What is the Circle of Credit and what does it consist of? – All the information

The delivery of credits depends directly on some requirements, among which is the report issued by the Círculo de Crédito. This tool provides a level of confidence to companies to provide the service to those who request it. Have you asked yourself What is and what does the Credit Circle consist of? – All the information.

What is the Circle of Credit and what does it consist of? – All the information

Banks and other financial institutions issue reports that contemplate the payment behavior of credit applicants. This information is collected by the Credit Circles which serve as a mandatory reference for banks to proceed to grant a loan or not.

Next, we present all the information you need to know about the Credit Circles, its operation, usefulness and the way to access this tool through the internet.

Credit circle

What is the Circle of Credit?

The Círculo de Crédito is a private entity that collects financial information from taxpayers who have requested some form of credit in any bank. The Círculo de Crédito safeguards the credit history that is mandatory when requesting a new loan.

What is the Circle of Credit?

The Círculo de Crédito consists of a database that stores information on the payment behavior of taxpayers in the financial loans and commercial of people and companies. In this way, credit companies know the risks they may have when granting a loan.

Therefore, the Circle of Credit integrates the information provided by financial and service institutions. Then, a file is created with the personal data and the loans and credits that the client has had are added.

What is the Circle of Credit for?

The Circle of Credit serves to give certainty to the granting companies at the time of making the decision to grant a loan or not. In addition, it allows credits to be authorized more quickly and facilitates the creation of a good credit profile.

The Credit Circle favors and encourages credit subjects and they measure the taxpayer’s ability to pay so that it does not exceed the level of debts.


How can I request the Special Credit Report in the Credit Circle online?

If you are on the Credit Circle list and you want to know your credit history, you must enter the Credit History website. On the other hand, to obtain a special report you must access the financer website.

How much does the Special Credit Report cost in the Circle of Credit?

The Special Credit Report in the Credit Circle can be requested free of charge once each year through the official website. It is important to note that the document is free as long as delivery is made via email or in the Customer Service Unit.

What information does the Círculo de Crédito provide credit companies?

Through the Credit Circle, creditors can access the number of loans that the applicant has had, their payment behavior, the time of delays (if any), the last timely payment date, the amount of credit granted, the debt balance and the amount of the last payment. Also, you can get your score in the Credit Circle either via the internet or through a phone call.

How can I start building my credit history at Círculo de Crédito?

If you want to be included in the Circle of Credit list, it is recommended that you start building your credit history with a credit card. In order for you to achieve your short and long-term purposes, it is necessary that you maintain a good profile as a financial services client by paying the established amounts on time.

As you can see, there is not a big difference between the Círculo de Crédito and the Buró de Crédito since both institutions are in charge of storing financial information of those people who request loans.

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