More than once we have heard about the Credit Bureau, but we are not always sure what it is. Surely we only associate it with the debt, that is, if we do not pay, we run the risk of going to the famous Credit Bureau.

But its implications go beyond that, since we are talking about our credit rating, the viability of loans and credits to which we will have access in the future, among other topics that we will see throughout this note.

What is the Credit Bureau and how does it work?


Being in the Credit Bureau is not necessarily something negative. What it means is that you have had a credit service or loan that reports to this entity. What is important is to be aware of our activity in the Credit Bureau, keeping an eye on our rating and being able to take advantage of our results.

You should, then, know that the Credit Bureau is not a blacklist at all. For years, many people believe that being in the Credit Bureau implies that they are in it because they do not pay or owe a loan but, as we mentioned, this is not necessarily the case.

The Credit Bureau is a Credit Information company, and another that operates in Nigeria is known as the Credit Bureau Limited. Known as a formal private company, to which other banking or financial entities report information about the loans granted and the credit histories of the users, this in order to be able to keep an eye on the risk of the credit grantors themselves.


Being in the Credit Bureau is not always something negative, since everything will depend on your behavior to pay the requested credits.

Lending financial entities use the records of natural and legal persons that are reported to the Credit Bureau, this allows them to evaluate and determine whether the loan can be granted or not, always considering other important factors such as your monthly income, other credits, age and other personal data.

Your credit information appears in the Credit Bureau for both business, automotive or mortgage consumer loans, even some departmental card, postpaid telephone service, pay television, among others. It is important to keep payments for this type of service up to date, since your behavior will be reflected in your credit history.

Consider that the institutions that grant you the credit, report month after month the punctuality with which the credits are paid by the users, so in case of delays, we will be affecting our rating and therefore our credit history.

Keep in mind that a good rating opens the doors to future credits with lower rates and commissions, on the other hand, if you have a negative behavior, you run the risk of not being able to request another one in the short or medium term.


What is My Score in the Credit Bureau


It is recommended to request a report of your credit history periodically, so you can even detect if there are loans under your name that you have not requested, other misreported payments or inquiries to your history to which you did not give authorization.

By law, you are allowed to request your credit report at no cost once a year. There are other services of the Credit Bureau such as “My Score”, where your credit history is summarized where your behavior is evaluated under a score that ranges from 400 to 850 points, which will give you a better view of your behavior and the possibility of accessing future credit products in finance companies and banking institutions. 

If for your part, you have not applied for a loan and you still do not appear in the bureau, you can request an immediate personal loan, with the possibility of being able to acquire other financial products in other banks in the future and start a financial activity in a good way, starting with the punctual payments of your loan.