Clydez

OT
No credit rating in finland?

Then what do they check when you take a loan or renting apartment? Was always being told need to check my credit history so what do they actually check?

Jainzar

Credit ratings often contain way more than your credit history. E.g. living in a poor area can already give you bad rating even if you paid all your debt in time.

cistavoda

Banks etc. can have their own internal systems but there's no score system. I'm sure there is some kind of hidden system in use, however, by law there's the naughty list and you need to be something like 2 months behind payments to be put on it... And with taxable income being public information in Finland they can always check your income level. Someone else here probably knows better?

Clydez

no idea what they check, since i never had problem with it.

But i take your answer as in finland as long as you paid all debts in time and you will have no problem?

kauppias

generally YES, but there are exceptions as someone said banks have their own systems too. For example a customer can easily get 40000€ unsecured credit linffrom Nordea oror Handlesbanken but be denied for a 2000€ from Sampo bank or Danske or whatever its called these days. They do not lwt you know why they deny you so go figure. I prefer the US system where its quite clear.

I wish EU would open up the credit markets too, one should be free to bank where one wants to...

loimu

Typically the granting of loans and credit cards is based on the lenders' internal scoring system which takes into account the factors they ask about in the application (income, amount of existing loans/monthly payments related to those loans, whether you own or rent your home, marital status, age, duration and type of your employment contract, gender, postal code etc.) which is turned into a numeric score. If the score is above the specified threshold, you will get what you applied for and in case you are below, the application will be rejected or you may end up getting a lower credit limit.

The only external checks ordinarily performed are the negative payment remarks. In addition to that, there's also a positive credit register, which is a workaround to cover for the lack of a general and statutorily-backed-up credit rating system, which we frequently hear about in the public discussion.The use of the positive credit register is based on the customers' consent, allowing the lenders to a) check for their data from the register and b) to enter information about their loans into the register (more information in Finnish: https://www.asiakastieto.fi/web/fi/a...estelmaan.html).

cistavoda

I GDPR'd all my data out from that. Let's see how it affects me in the future...

kauppias

Intresting 😂👍

Personally I have very little intrest in credit from Finnish banks anymore but I would be very intrested in cards from quite a few EU banks 😍

Im a new user

He remains the chairman of the board until the annual general meeting on the 28th of March.

Clydez

Couple of years ago, i applied a credit increase from Sampo/Dansk from 8k to 15k. They declined and gave me 10k instead.
The reason is that they see i have few tens thousands in the debit account and tell me use the debit.

I was speechless. thought credit card generate more revenue for them?

intuition

That makes Finland one of the easiest countries to start over in. So i just take silja line across the pond, get settled and get creditcard without any trackrecord?

Must consider this if I default on my mortgace

Flying Yazata

The expression "across the pond" usually refers to crossing the Atlantic, so your ferry would be pretty off its course.

cistavoda

Atlantic, Baltic, what's the difference? Only one letter... :P

intuition

In an anglo-american dichotomy it surely is, but there are more ways to slice the earth!

Anyway, Leif Eriksson took Silja westwards on the inaugural tour, came back after one hell of a boys-trip and told us there was nothing there worth the trip. After that we concentrated on the east sea pond.

jakas

Thats good, I could get one after this DC goes