credit score calculator

What is a Credit Scoring and How Does it Affect Your Loan Application?

Credit scoring is a computer program based on algorithms that helps entities make decisions based on the evaluation of financial and personal data collected from a specific client. Through the result or score obtained, the approval of a financing operation will be recommended or not.

loan With this artificial intelligence system, risks are analyzed, and responses are homogenized without having any subjective or emotional biases that distort the information to avoid making wrong decisions and, ultimately, that the operation leads to a default situation. In this way, artificial intelligence replaces the traditional risk assessment formula once carried out by bank employees themselves.

A credit score consists of studying the percentage of income that the user receives in relation to pending payments or the indebtedness rate based on equity or working life, among other variables. Once these variables are entered, the system concludes whether there is a real risk and the user’s ability to pay.

Advantages of Having a Positive Score

If banks detect a customer withgood credit score a positive score, they will soon knock on your door to offer you credit cards and even pre-granted loans. Also, suppose it is the citizen who goes to the entity to request a mortgage or liquidity for other purposes, he will have no problems accessing the money. The conditions will be better with lower interest rates, and the possibility of signing longer terms will be higher than in the profiles with more risk. Having positive solvency data will also benefit you when renting a house, a policy, or insurance covering future rental defaults.

Risks of a Negative Credit Score

If your scoring is low, the entity will always apply higher interests than in the opposite case. In the case of having an adverse credit history, the bank can also increase the requirements to grant the loan or require a guarantee of protection in case of default. The bank can also choose to directly deny you the money, although there are credit platforms that do lend to clients even if they have a negative score.

Improving Your Credit Score

If you have a negative financialcredit score scoring or have been blacklisted, you will always have the option to try to move forward and improve your credit history. Setting a monthly budget for expenses and income, paying your debts on time, and not exceeding your debt capacity are basic rules to keep your credit history at bay. But if your credit reputation is “tainted,” you can always try to erase the past and start from scratch.…


The Basics of Tax Rebate

Taxes can be quite challenging and confusing when you don’t know a whole lot about them. It may also be tricky if you don’t know how to balance it out. When you don’t know the tricks as well as the ins and outs of tax, it can also be quite expensive. To save you from spending a lot of money on taxes, you can utilize this thing called a tax rebate.

Some people refer a tax rebate as a tax refund. It is the amount of cash that the HM Revenue and Customs give back to someone who has overpaid their taxes. Here are some things that you should know about tax rebate:


calculatingSometimes, tax rebate tends to happen automatically when HM Revenue and Customs recalculate your taxes. However, most of the times, you will have to apply for a refund yourself. It will give you an estimate of how much money you can be entitled to.


To know whether or not you are due a refund, you should assess your circumstances. Some circumstances that make you eligible for a tax rebate include starting a new business, washing your own work uniform, or using a personal vehicle to travel to workplaces that are temporary. You are also eligible when you work under CIS or when your employer took too much tax away from your salary. The refund will depend on your personal situation and circumstances, and claims can be backdated back up to around four tax years.


doing taxesYou can actually claim back quite a lot of things on tax. However, the HM Revenue and Customs must know your circumstances as well as all the expenses that you paid so that they know if you have any tax that is overpaid. Some items that you are able to claim tax back include traveling expenses, mileage costs, rail season tickets, uniform cleaning costs, payments for professional subscription, other supporting expenses, and in certain circumstances, you can claim a tax rebate for food. You can also claim other expenses according to your circumstances.


When you want a hassle-free tax rebate, you can utilize or ask services for help. They have tax experts that can prepare the claims and follow through on your behalf. When you want to do it yourself, it can be a lengthy and complicated process. You will have to ensure that you have taxes that are overpaid because if HM Revenue and Customs do not know about it, you won’t be eligible for a tax rebate. After that, you file a claim properly, and then they will recalculate your income tax. After that, your account shall be credited and you can apply to credit your account with the overpayment.…