What is creditworthiness?

Your estimated ability to pay back a loan is called creditworthiness. When applying for a loan several factors are taken into account, and your chances of being granted a loan depends on your creditworthiness. Summarized as a credit score, your ability to pay back decides what interest the lender can offer and if you’ll be granted a loan.

What is a UC?

Upplysningscentralen, or UC, is a company performing credit checks, owned by several Swedish big banks. A credit check from UC lets the lender see your:

• Current loans and active credits
• Payment notices and debt with Kronofogden
• Previous credit checks
• Your personal information, name, personal number, income and marriage status

Why does the bank take a uc of me?

Every lender is required to keep good customs when giving out credit. Good credit costumes implies that a loan can only be granted if the lender believes you can pay it back. The uc is a way of assessing your ability to repay, but it can also be seen as a protection for you against taking a loan your finances can’t handle.

How to improve your credit score

If you want to improve your chances of getting a loan, it’s important to have employment. When the bank assesses you they’ll check if your economy can handle a loan with interest and fees accompanied. 

The main things to keep in mind are:

• Get a regular income
• Try to raise your salary (either by switching jobs or negotiating your current salary)
• Pay of your debts in time
• Take a break from shopping on credit*

*Previous credit checks are visible on your credit checks. Credit checks used to compare offers from different lenders is generally not seen as a bad sign. However, declined credits can be seen as bad.