Scoring is … credit scoring

There is probably no such person today who did not use the loan at least once in my life. Sometimes a bank can decide whether to grant a loan within 15 to 20 minutes of your appeal.

 How do you do it – such a short time to estimate the borrower? You don’t do it yourself – the decision is made by an impartial computer program – the rating system. It is the customer who uses the data entered to assess the trustworthiness of the customer.

What a strange world


This not very clear name comes from the English word Score, which means “Score”. Scoring is a computer program that represents a kind of questionnaire that characterizes the borrower. Before making a decision to grant a loan, a bank employee will ask you to answer a few questions.

The answers are entered into a computer. The program then evaluates the results and assigns a specific number of points to each point. As a result of all evaluations, you will receive a specific general indicator, which is defined as a scoring score. The higher this score, the more likely the decision to grant a loan is.

Most of the time, one type of assessment is used at a time, with a client being evaluated in different directions, or a complex multi-level system is used.

Types of assessment


The most important and most common of these is application evaluation. This is a validation method that evaluates the solvency of customers. If you have not received enough points for this type of rating, it is very difficult to get a loan. Alternatively, you can offer other loan terms – a higher interest rate or a smaller loan amount.

The next level of evaluation is determining a potential borrower’s predisposition to fraud. It is evaluated by the system. Fraud assessment. The criteria for calculating this parameter are every bank’s trade secret.

Behavior assessment is a type of review that allows predicting the customer’s solvency in the future. With this analysis system, you can also identify some “behavioral factors”: how the customer manages the loan, whether you want to make payments accurately and on time, choose the credit card limit immediately or use the money in parts and much more.

There is another, more uncomfortable type of review: borrower collection evaluation, the development of which is very important; arrangements for working with customers with arrears. It is necessary for an adequate assessment of the risk of credit default and for the timely application of preventive measures.

Can you “fool”?

Since the credit rating is done by a machine, it seems that it is not difficult to fool the system – it is enough to give only the answers that are “correct” from the bank’s point of view. However, this is not the case, because such an attempt can only be successful if the program is structured so that some data about you cannot be checked immediately. If only documented information needs to be entered for the assessment, it is almost impossible to deceive the system.

 Check that the data in the questionnaire is genuine. The situation for security officers is not difficult since the vast majority are former employees of the Ministry of the Interior, the Federal Security Service and other similar departments and like to use the “old connections”. In addition, it is sometimes sufficient to simply call the work or the neighbors of the future customer.

Trying to outsmart the program is still not worth it as it initially contains all the known schemes and signs of fraud. If such an attempt is discovered, you will never be granted a loan in that bank.

So let’s consider what benefits a potential borrower should have if they want to borrow easily.

Personal information – who is lucky?

  1. Sex – Women are believed to be more responsible in fulfilling their financial obligations.
  2. Age – Here excessive youth or maturity games can prank you. The age from 25 to 45 years is preferred. Customers who fall into this area can count on additional points for this article.
  3. Education: – If you have a higher education, the bank will trust you more. Such customers are considered to be more successful, more responsible and more financially stable.
  4. Family ties – Lonely people are not a priority. So if you can boast at least one marriage under the general law, you get an extra point.
  5. Dependent – having children is of course not an obstacle to granting a loan. However, the more there is, the lower the score for this item you receive.

Student loan – what is it?

When you are looking for interesting texts on the topic: “student loan”, use our short guide that will help you navigate the maze of financial products available on the market for the student’s pocket. We invite you to read!

For many people, studying time is undoubtedly the most beautiful period in their lives. Meeting friends, broadening horizons, and great new experiences are at its heart. But the student’s life is not a bed of roses! These are constant challenges and difficulties to overcome, especially when financial issues are involved. How to handle it when a student needs money?

Student loan with the help of the state

Student loan with the help of the state

Probably not everyone knows that student loans are currently available on preferential terms, in which the repayment is assisted by the state. However, only students whose per capita income in the family does not exceed a certain ceiling can apply for money for education and all kinds of needs.

Therefore, it is necessary to provide the bank servicing student loans with relevant documents specifying the family’s property status, as well as certificates on the basis of which it is possible to assess the creditworthiness and possibilities of securing loan repayment. It will also be necessary to establish a guarantor. And how are students who do not meet these conditions to cope? Student loans are also available in banks outside the state program. But this is not the only solution.

Common sense above all

Common sense above all

How to deal with living in large cities, which are also university centers? Student expenses may turn out to be higher than you might think.

Studies in the country are admittedly free, but it is necessary to buy scientific support from your own funds, pay for additional language courses or professional development workshops. In a situation where there is a shortage of funds, an ideal solution may be a student loan taken in companies that are not banks. However, deciding on this type of financial products, it is worth assessing whether we can afford to pay them back.

Are you looking for a quick student loan that offers the money you need to survive college? We hope we provided you all the information you need on what is a student loan and how to get a student loan. It is time to focus on what is really important this education for you or your children. Apply now!