Compare: Credit rating

2023: Launch of Credit History and Personal Finance Management Service

On July 18, 2023, the financial marketplace Compare announced the launch of a free service for managing credit history and personal finances - "Credit Rating."

As reported, the main task of the service is not just to show the user his chance to approve a loan, but to give useful advice on maintaining credit history at the required level, as well as provide an opportunity to protect himself from fraudsters.

Credit rating

Credit Rating users will be able to:

• Monitor the credit rating indicator and its changes. The credit rating is calculated on the basis of the credit history - current and closed loans of the user, and also allows you to assess the chances of obtaining a loan;
• Understand your "Financial Potential." Model the situation on obtaining a loan. For example, find out how much credit you can get if you refuse a high credit card limit;
• Get tips on how to fix your credit history and improve your chances of getting credit. The recommendations are based on the accumulated experience of analysts and experts. Compare and written in simple language. They will tell you which user actions positively or negatively affect the rating;
• Protect yourself from scammers and mistakes. It's easy to check for delays or errors in your credit history to make sure scammers haven't taken out a loan in your username;
• See active credits. Loan data is updated online once every 30 days, the service is available for the user for free unlimited number of times per month.

noted Sergey Leonidov, General Director of Compare'Our service will allow people to understand how to properly manage their loans and how to put personal finances in order. In developing the product, we thought over different situations where our expertise can be useful.

The service is available for residents from all regions of Russia. To become its user, you do not need to fill out a detailed questionnaire. The system automatically loads all data using a confirmed account in the Public services.

Compare product will help you better understand how credit history affects the amount of credit and how to increase the chances of obtaining it. And also control the absence of delays and make sure that scammers do not take out a loan in your name. We paid attention to disclosing information on the client's credit burden. We did the research and realized that many people don't know how, for example, a credit card affects credit load and the likelihood of credit approval. shared Igor Korchagin, product manager

The development of the product took the team six months. To provide up-to-date user data, Compare uses data from several credit bureaus (BKIs). These are organizations that, according to Russian law, process and store data on the credit histories of citizens. For this reason, the product stores the most detailed credit information for each user. In the future, the company plans to increase the number of BKIs for the most accurate assessment of the credit burden.

According to Compare, in 2023, the average credit rating of Russians was 602 points. Among the cities with a population of one million in 2023, St. Petersburg is in first place with an average credit rating of 610 points, at the second - Nizhny Novgorod (600) and Krasnodar (600), on the third - Samara (598).

In 2022, Moscow was in first place with 636 points. IN 2023 in Moscow, the average credit rating has decreased - it is at the level of 596 points, this is the fourth place in the overall ranking of large cities. The minimum credit rating among millionaires was recorded in Omsk (561), Perm (585) and Novosibirsk (586).