What is a Credit Score and How Can It Be Improved?
What is a Credit Score?
The scores that show the creditworthiness of individuals or institutions are called credit scores. Thanks to the developing computer technologies today, banks can access the financial information of individuals applying for credit through their TR identity numbers, and the credit score is the average of this information. Information such as the assets owned by the individual, their debts, monthly income, regular monthly payments, and if applicable, their spouse's income, is used in the calculation of the average.
How Can a Credit Score Be Improved?
In order to increase the credit score, it is necessary to increase the monthly income which positively affects the score or to increase assets. Simple measures can also be taken, such as paying off credit debts that negatively affect the credit score and making regular payments to banks. For individuals who are blacklisted, the only solution is seen as a blacklist amnesty.
