Frequently Asked Questions

By obtaining Mi Score you will have the following benefits:

• Receive the rating of your credit performance in a single number.
• Compare your results with the rest of the population in Mexico.
• Obtain the factors that influence your results and how you can improve your score.
• Learn more about your credit status.

The credit score you obtain changes according to your credit management behavior. It calculates the risk or chance of default that a lender assumes when granting you financing. A pattern of on-time payments is one of the factors that can help you improve your score. My Score is a dynamic score, and will change with respect to your behavior whether you are late in making payments or paying off your loans on time each month.

For the calculation of your score is NOT considered:

• Occupation
• Salary
• Employment history
• Gender
• Marital status
• Age
• Place of residence

Improving your score is in your hands. Here are some tips:

Punctuality in your payments

• Pay each loan on time, when you miss a payment you affect your payment history and therefore your score.
• If you are behind on your payments, make sure you catch up as soon as you can and continue to pay on time.
• Contact your credit grantors. Some of them may offer you a scheme that allows you to modify your payment plan so as not to affect your credit history.
• Keep under control the amount of debt in your credits.
• Always consider your debt capacity, based on the income you receive and additional payment commitments, such as: payment of tuition, rent, electricity, and other recurring expenses.
• Use credit responsibly. Don't forget that when you use credit, you acquire the obligation to pay it back in the future, use it to your advantage by keeping proper control of what you owe and make sure you pay more than the minimum whenever you can.

New loans

• Do not acquire credits you do not need. A larger number of credits could put you at risk of losing control of your debts. If you only have the credits you use, you will be able to have control of the dates and amounts of payment in each one of them.
• When you have a significant number of new accounts opened in your credit history in a short period of time, it could affect your score.

To calculate My Score it is necessary to obtain your Special Credit Report. In order to obtain My Score, please have the following information about your credits:

• Official identification (Voter's card or valid passport. Permanent resident card, if you are a foreigner).

If you have this information:

• YOUR CREDIT CARD INFORMATION: Last statement of an open credit card account
• AUTOMOTIVE CREDIT: Credit number and institution with which you have or have had an automobile loan in the last 6 years (open or closed)
• MORTGAGE CREDIT: Number of credit and institution with which you have or have had a mortgage loan in the last 6 years (open or closed)

* If you do not have credits, select the option “I do not have”.

The information on the registered credits is removed from the Credit Bureau database at different times according to the amount of debt they have.

Your credits with debts less than:

• 25 UDIS or less, but more than $0.00, are removed after one year.
• 500 UDIS, approximately $2,260, are removed after two years.
• 1000 UDIS, approximately $4,520, are removed after four years.

These terms start from the first time the Grantor reported the credits with a delay or from the last time they updated the Credit Bureau information. The data on your credits with debts greater than 1000 UDIS will be removed after six years in the Credit Bureau database as long as:

• They are less than 400,000 UDIS, approximately $1.7 million pesos.
• The credit is not in judicial process.
• You have not committed any fraud on your credits.

These timeframes for deleting information have been established by the Law for the Regulation of Credit Information Companies and the General Rules issued by the Bank of Mexico. If you have had delays or defaults, you do not have to wait for the information to be deleted for your credit history to improve. If you catch up, this will be reflected in your credit history and show that you are complying.

In Credit Bureau are all those who have obtained a credit card, car loan, mortgage, telephone service or pay TV. Being in Credit Bureau means having a credit history that shows both timely and adequate payments as well as late payments. It is convenient that your history shows your timely payments because this way you will have a reliable way of guaranteeing that you are compliant with your debts. Remaining on time with your credit payments will help you maintain a healthy credit history that will give you a better chance of obtaining new financing.

Credit Bureau serves to integrate the credit history of individuals and companies. You start to be in Credit Bureau from the moment you apply for credit and not when you have problems to pay. If you have been compliant with your payments, your history in Credit Bureau is useful for the companies that grant financing to appreciate your good payment performance. Your history is updated once a month, so if you catch up on your payments after a delay, this information will show up in your history. It is not a problem to be in Credit Bureau, the problem is not taking advantage of the information to improve your chances of obtaining new financing or extending your current line of credit.

Only you and the Credit Grantors to whom you expressly authorize may consult your Credit Bureau history.

Credit Bureau supports you in processing your claim with the Financial Institution with which you have a disagreement.

• Credit Bureau will send the claim submitted by the Client to the Grantors, and they will respond.
• Once the Company notifies the respective User of the claim in writing, it must include the legend "disputed record" in the relevant record, which will be removed once the process is concluded.
• If the Grantor(s) do not provide a response to the Credit Bureau, the information will be modified or deleted from the database as requested by the Client.
• If the Grantor(s) fully or partially accept the statements in the claim submitted by the Client, the corresponding modifications will be made.
• In cases where a modification is made to the Client's information contained in the Credit Bureau database as a result of a claim, a new Special Credit Report will be sent to the Client, and an updated Credit Report will be sent to the Grantor(s) who received information about the Client in the last six months.

There is no blacklist, if you have or had any credit, surely there will be a history recorded in the Credit Bureau. The credit history remains in the database for a period of 72 months from the settlement date, as long as the Credit Grantor has reported the closing date or the last time it reported to Credit Bureau.

Those who believe Credit Bureau is a blacklist are looking for a way to get off quickly. But what would happen if they got their wish? Perhaps they would think that now they would be able to get the credit they want. But upon submitting their application they would find that the Grantors have no information about their credit history, nor can they corroborate the information on their application, since there is no history to back it up. Surely these people would be very disappointed, since not being in Credit Bureau would cause setbacks that they did not imagine when they were anxious to be deleted. The objective is not to get out of Credit Bureau but to make sure that our Credit Bureau history shows a good management of our financings.

Credit Bureau does not decide whether an application should be approved or not. Its job is only to deliver your credit report to the Otorgantes that you authorize. The Grantors, in addition to reviewing your Credit Bureau history, take into account factors such as your current income, your age, recurring payment commitments (such as tuition payments, number of dependents, etc.) and certain other factors to calculate whether you will pay well if your application is approved.