Latest Modification Date: 1/11/24
Credit history comprises the details presented to entities offering credit, encapsulating information about your punctuality in complying with financial obligations, both from banking and non-banking sources, registered under your name. This credit history in Mexico is compiled by specialized entities in credit information, such as the Credit Bureau and the Credit Circle. Here, you can identify the financial institution, the credit line, the current balance, the status of your payments, and the detailed record of your payment history throughout each month.
It is of utmost importance that you establish and maintain a robust credit history as it enhances the likelihood of obtaining more substantial amounts and more favorable conditions in future credit lines.
How to maintain a good credit history?
It is essential to consider these three questions if you aim to generate an outstanding credit history.
Can I afford it?
Before making purchases or undertaking new financial commitments, it is crucial to define the capacity to pay. It is recommended that debts do not exceed 30% of income.
Do the payment terms benefit me?
Responsibility extends to the financial sector, as it reflects financial strength for banks and contributes to maintaining a positive credit history.
Are my finances in order?
Financial well-being relies on a balance between debts and income, making it essential to have clarity about what we want, need, and must do.
At Xpats, we prioritize your comfort and security; therefore, we offer you the opportunity to travel the world while building a credit history with low-interest rates and the possibility of accessing a diverse range of financial products.
Contact us for more information!
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XPATS is a cross border embedded finance platform designed to provide access to borderless financial and non financial products for Expatriates and Global Remote Workers.
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XPATS is a cross border embedded finance platform designed to provide access to borderless financial and non financial products for Expatriates and Global Remote Workers.
Keep updated. Get Priority Access
Excellent credit history?
January 11, 2024
Adriana B. Castrejón
Excellent credit history?
January 11, 2024
Adriana B. Castrejón
Credit history comprises the details presented to entities offering credit, encapsulating information about your punctuality in complying with financial obligations, both from banking and non-banking sources, registered under your name. This credit history in Mexico is compiled by specialized entities in credit information, such as the Credit Bureau and the Credit Circle. Here, you can identify the financial institution, the credit line, the current balance, the status of your payments, and the detailed record of your payment history throughout each month.
It is of utmost importance that you establish and maintain a robust credit history as it enhances the likelihood of obtaining more substantial amounts and more favorable conditions in future credit lines.
How to maintain a good credit history?
It is essential to consider these three questions if you aim to generate an outstanding credit history.
Latest Modification Date: 1/11/24
Can I afford it?
Before making purchases or undertaking new financial commitments, it is crucial to define the capacity to pay. It is recommended that debts do not exceed 30% of income.
Do the payment terms benefit me?
Responsibility extends to the financial sector, as it reflects financial strength for banks and contributes to maintaining a positive credit history.
Are my finances in order?
Financial well-being relies on a balance between debts and income, making it essential to have clarity about what we want, need, and must do.
At Xpats, we prioritize your comfort and security; therefore, we offer you the opportunity to travel the world while building a credit history with low-interest rates and the possibility of accessing a diverse range of financial products.
Contact us for more information!
