Fix Bad Credit, Build Good Credit—Start at "Tidlor"
Rejected because of the bureau? Blacklisted? Common myths we want to clear up. Today Tidlor will help you get to know the "Credit Bureau"—a term that worries many, but the situation can be fixed if you choose the right place! The Credit Bureau is also a key tool for anyone planning to apply for credit.
What is the Credit Bureau?
The Credit Bureau isn't as scary as you think
What credit data is stored?
- Identifying information such as name, address, date of birth, marital status, occupation, ID number; for legal entities, company name, registered address and registration number, etc.
- Approved credit and repayment history: e.g. home loans, car loans, how many credit cards, total number of accounts, total debt, and the status of each account, plus repayment history—on time, late, or how long overdue. The credit bureau arranges repayment history by month in tiers, up to 36 tiers (3 years).
Who can view our credit bureau data?
Only you and the financial institutions you authorise can access your credit bureau data! Those institutions must be credit bureau members to view your credit information, and they can see data going back 3 years.
But wait! Even though the credit bureau doesn't approve loans, when you plan to borrow in the future, lenders will use your credit bureau data in their decision. So if you pay on time, pay in full, and avoid arrears, the better your record, the easier it is to get approved and the better the interest rate you may get.
Bad credit for real, or just in your head?
How do you know what your credit bureau status is? What if you've been late a few times?
Tidlor has put together sample account statuses from credit reports so you can do a basic check of your credit health before applying for a loan.
- Never missed a payment—pay on time, pay in full, no defaults. Lenders love this profile.
- You may have been late or missed a few instalments in the past, but if it wasn't more than 3 instalments, don't worry. Your credit history can still look good.
Why was my loan rejected?
Rejection can have many causes: not meeting the lender's criteria, income below their threshold, or credit data that doesn't meet their requirements—often due to late or overdue payments in the past. Some lenders look at the last 6, 9, 12, or 18 months of repayment history to assess your discipline and ability to pay, whether debt exceeds income, and how often you pay on time. If you have a history of arrears in several places or overdue more than 3 instalments, you may be rejected, or get a smaller loan or higher interest. Best to clear old debt, close those accounts, then wait until 3 years have passed for the arrears to drop off. If you can't close them yet, keep paying—pay in full, on time, including every fee, and do it consistently for at least 1 year; your next application has a better chance of approval.
- Borrow jointly with someone who has a good credit history to show stronger repayment ability and credibility.
- Find a guarantor to strengthen your application. Guarantors are not recorded in the credit bureau because they are not the borrower. If the guarantor is also a co-borrower, then they are treated as a borrower and the credit bureau will record them as a co-borrower, not as a guarantor.
If you can't find a co-borrower or guarantor, a vehicle-secured loan company can help. When you do borrow, choose a car registration loan company that is a credit bureau member—they report data every month, so you get both the money and a chance to repair and build your credit. If you borrow from a non-member, your repayment history won't be reported.
Bad creditFix it at Tidlor
If you've made mistakes, had setbacks, or have late or missed payments and a poor credit history—Tidlor can help! These "Do it now!" tips will help improve your record.
Contact the lenders you owe and clear the arrears. If the amount is large, negotiate with them for debt reduction or restructuring.
If you owe several lenders and can't keep up, we recommend consolidating into one. It's easier to manage and control monthly payments. "Tidlor" vehicle-secured loans as a credit bureau member can help you consolidate and pay off other debts for a fresh start. Repay on time until the end of the contract or for at least 1 year, and your history will improve.
When consolidating with Tidlor, take a moment to think. Borrow only what you need, in an amount you can repay, and consider a longer term to lower monthly instalments. Tidlor car and pickup registration loans offer up to 60 months; motorcycle registration loans up to 24 months.
At TidlorGood credit can be builtJust remember 3 things
No credit history isn't necessarily good—how will lenders know you're disciplined and can repay? Start building good credit at Tidlor with these 3 simple steps. Do them and your credit will improve.
Don't skip or delay repayments. Choose a due date you can stick to and pay the full amount on that date every time.
Paying in full and on time, consistently, shows discipline and improves your repayment history.
When you have spare cash, consider making extra payments. Tidlor vehicle loans use reducing-balance interest in line with policy—the more principal you pay, the lower the interest. But don't rush to close the account: repaying on time for the full term or at least 1 year shows discipline and can improve your credit and chances of better rates. If you need cash in an emergency, the Tidlor card lets you withdraw at ATMs nationwide, 24 hours.
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