What do deferred payments have in common with a mortgage?

Creditworthiness is like a financial barometer – it shows how banks assess your ability to repay a loan. It’s not just about what you’re doing now – it’s your entire financial history, built from the moment you start earning and spending money. But what if youthful mistakes – like buying an iPhone on installment or using Klarna, Allegro Pay – have affected your credibility? Can it be fixed? The answer is yes.

Understanding creditworthiness: more than just numbers

Creditworthiness is your financial rating in the eyes of a bank. Income, expenses, credit history, and obligations are taken into account. Each bank has its own criteria, so it’s worth knowing what specifically affects your borrowing ability. Creditworthiness means the ability to repay a loan in agreed installments and on time. Banks consider:

• Income (regularity and source),

• Current obligations,

• Credit history,

• Fixed expenses,

• Number of people in the household.

Every financial decision you make can affect this rating – both positively and negatively. That’s why it’s worth building your creditworthiness as early as possible.

Deferred payments and installments: friends or foes of creditworthiness?

“Holidays are over, but you’re left with installments from deferred payments.” Sounds familiar? Deferred payments offered by platforms like PayPo, Klarna, or Allegro Pay are convenient but don’t go unnoticed by banks. Even if you pay them on time, they’re treated as obligations that reduce your creditworthiness.

How do these payments work?

You buy now, pay later. Sounds great, right? But banks see it differently. Even if you pay deferred payments on time, banks treat them as current obligations. Each installment, no matter how small, lowers your creditworthiness.

Example:

Ms. Joanna regularly used Allegro Pay, paying for electronics in installments. Although her installments were only 100 PLN per month, the bank considered them when calculating her creditworthiness. As a result, her maximum mortgage amount was reduced by 20,000 PLN.

Tip:

Before applying for a mortgage, pay off all small obligations, like installments or deferred payments. This will significantly improve your rating in the bank’s eyes.

Credit cards – friend or foe?

Credit cards: how to use them wisely?

Credit cards can be helpful tools if used responsibly. The problem arises when you have high limits you don’t use – banks treat them as potential liabilities.

Example:

Mr. Marek had a card with a 20,000 PLN limit that he used occasionally. The bank, analyzing his application, considered the card a burden on his creditworthiness. After lowering the limit to 5,000 PLN, Marek secured better mortgage terms.

Tip:

Cancel cards with high limits if you don’t use them. If you plan to take out a larger loan, it’s worth closing unused cards.

Holiday shopping, loans, and creditworthiness

Do you know the feeling of reaching for deferred payments or buying gifts on installments during the holiday rush? Then comes the surprise: “Why did my creditworthiness drop?” Banks consider every obligation – even the smallest ones.

Do youthful mistakes ruin your chances for a loan?

Don’t worry if you’ve ever missed a payment or faced temporary financial difficulties. Banks analyze your credit history over the long term. What’s important is to pay off your obligations on time now and avoid new debts before applying for a loan.

What can you do?

Before applying for a mortgage, pay off all small obligations, like installments or deferred payments. These simple steps can significantly improve your chances of getting a favorable loan.