Luottohistoria

Luottohistoria, or credit history, is a record of an individual’s borrowing and repayment activity that lenders use to assess creditworthiness. It typically aggregates information about loans and credit cards, including account status, payment punctuality, outstanding balances, credit limits, and the number and type of credit inquiries. The history can also reflect public records such as collections and the age of different accounts.

Credit histories are compiled by credit information agencies or bureaus that collect data from banks, lenders, and service providers. In Finland and many other countries, consumers have the right to access their luottohistoria and to dispute errors. Lenders consult this information when deciding whether to approve new credit, set interest rates, determine credit limits, or assess loan terms. A strong, clean history often leads to better terms, while missed payments or high credit utilization can lower a score or rating.

Building and maintaining a positive luottohistoria involves paying on time, keeping credit card balances well below limits, avoiding unnecessary new credit, and maintaining longstanding accounts. Regularly reviewing your report helps detect mistakes, signs of identity theft, or outdated information. Information in a credit history is generally retained for several years, and its visibility and use are subject to data protection laws, such as GDPR in the European Union.

Limitations include that a credit history is a snapshot of past behavior and may not fully reflect current finances, income, or repayment capacity. Differences exist between countries in how data is reported, what factors are weighed, and how scores are calculated.