Credit Score Basics

What is a credit score?

If you have taken at least one loan, if you are a guarantor or a co-borrower, you will definitely have a Credit Report. Your Credit Report is a document on your credit behavior. Report data are processed statistically and the credit score is calculated this way. The credit score allows evaluating the likelihood of non-fulfillment of commitments and the risk of non-payment. The credit score is expressed in numbers and may range from 0 to 400. The credit score facilitates credit institutions to define how expectable timely repayment is in case of financing the loan. The credit score will help you to improve receipt of the credit services because the higher the score, the less is the likelihood of non-fulfillment of commitments by you.

What influences the credit score most of all?

The credit score is defined by significant factors such as volume of liabilities, length of credit history, frequency of use of bank products etc., however, the payment history influences your credit score and rating most of all because it shows how well you fulfill your commitments. In addition, credit history is a significant factor which shows how much time it took you to fulfill the commitments, when you had overdue loan or when a penalty was accrued on you.

Credit Rating

Credit rating is a simple interpretation of the risk level evaluation – likelihood of non-fulfillment of financial commitments from level A to level E

Level A corresponds to a low risk level; levels B and C corresponds to the average risk level, while levels D and E are high risk levels. Currently, there are 11 levels:

Credit Rating Score
  • A
  • 334-400
  • B
  • 321-333
  • C1
  • 308 – 320
  • C2
  • 296-307
  • C3
  • 285- 295
  • D1
  • 273- 284
  • D2
  • 260-272
  • D3
  • 235-259
  • E1
  • 210-234
  • E2
  • 190- 209
  • E3
  • 0-189
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