# Building financial credit in Spain



## AllHeart

I understand that my credit starts at zero here in Spain. Could someone please tell me how to build my credit here in Spain? All my apartment bills (rental) are in the landlord's name. The only bill in my name is my mobile.


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## snikpoh

AllHeart said:


> I understand that my credit starts at zero here in Spain. Could someone please tell me how to build my credit here in Spain? All my apartment bills (rental) are in the landlord's name. The only bill in my name is my mobile.


.. use Spanish credit cards and/or store cards.

Also, I would strongly insist that the bills should be in your name.


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## AllHeart

Thanks, Snikpoh. I didn't know I could ask for the bills to be in my name. I will ask. I pay five bills through my landlord - rent, Movistar, water, electricity and community fees.

I'll ask my bank for a credit card. Don't know if I'll get one with no credit.

Is there a central company that keeps track of credit rating? We have two in Canada and you can ask for your credit rating. Is there a similar credit rating company here in Spain?


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## Alcalaina

I'm not sure the concept of a credit rating applies in Spain, at least not in the same way it does in the USA. Lots of people get mortgages from Spanish banks to buy property when they aren't even resident. Why not just ask your bank manager?

We were offered credit cards when we first opened a bank account here but we turned them down. They have quite a high annual charge, unlike UK ones which are free.


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## Alcalaina

According to this article Spain only records "negative credit information" (i.e. bad debts).

How Do Credit Scores Work in Other Countries? | Credit.com


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## snikpoh

Alcalaina said:


> According to this article Spain only records "negative credit information" (i.e. bad debts).
> 
> How Do Credit Scores Work in Other Countries?Â*|Â*Credit.com


Thanks for that - how can one check ones own situation?

My wife had a run-in with Vodafone who actually owe her money but they think otherwise. We think this was the reason that Carrefour refused her one of their credit cards - but how do we know and how can we find out to rectify the situation?


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## Williams2

Alcalaina said:


> I'm not sure the concept of a credit rating applies in Spain, at least not in the same way it does in the USA. Lots of people get mortgages from Spanish banks to buy property when they aren't even resident. Why not just ask your bank manager?
> 
> We were offered credit cards when we first opened a bank account here but we turned them down. They have quite a high annual charge, unlike UK ones which are free.


It's a good question because having a good credit rating is equally important in the
UK and the Brits can check their Credit Score for a free one month trial period with
the any of the 2 majors, Experian and Equifax.

As previous posters say, I've heard nothing of Credit Reference Agencies in Spain,
although Experian does have an office in Madrid.

Of course that's not to say that there's not some form of Credit Reference Agency
operating in Spain - as I'm sure, just like in the USA or the UK. The banks and
other lenders, refer to some ratings agency before granting loans and credit cards
and I've even come across some Apartment lettings Agencies who refer to a Credit
reference agency - when checking out prospective tenants for Landlords.

With the 2 majors in the UK, those loan applicants who feel they have been adversely
affected by association with bad creditors & those on CCJ's - like ex girlfriend, wife
or partner. Can appeal to the UK Credit Reference Agencies to get their Credit
History put straight.

Not sure theres the same service with the Spanish Credit reference agency or
agencies, whoever they may be ??


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## Alcalaina

snikpoh said:


> Thanks for that - how can one check ones own situation?
> 
> My wife had a run-in with Vodafone who actually owe her money but they think otherwise. We think this was the reason that Carrefour refused her one of their credit cards - but how do we know and how can we find out to rectify the situation?


That's the sort of thing I would go to my friendly neighbourhood bank manager to find out. (Something you can't do with online-only accounts!)


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## AllHeart

Alcalaina, I took your advice to see my friendly bank manager to figure out how the credit system works in Spain. Here it is...

There is no company an individual can call to find out your credit score. Only businesses and banks can access this information. If you want to know your credit score, you have to go to the bank and ask them.

The Spanish word for credit rating is solvencia (solvency).

The amount of credit you get will depend on two things: The amount of income you have deposited in your bank account and how good you are at paying your bills. I'll use my case as an example... 

INCOME - AMOUNT OF CREDIT: They only look at the income that is deposited in your Spanish bank account. I have two sources of income - an annuity and a pension. My pension is deposited in my Spanish bank account, and my annuity in my Canadian bank account. They only consider what is deposited in my Spanish bank account as income, and how much they lend me depends on this income. 

BILLS: The bills they look at are only the ones that are paid through you bank account - rent, Netflix and mobile for me. If all of these are paid on time, you have good credit. The banks says my bills are sufficient to show that I pay bills on time, and putting the other apt bills in my name is not necessary. 

Thanks all for your help. I hope this info helps someone else out.


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## mrypg9

AllHeart said:


> Alcalaina, I took your advice to see my friendly bank manager to figure out how the credit system works in Spain. Here it is...
> 
> There is no company an individual can call to find out your credit score. Only businesses and banks can access this information. If you want to know your credit score, you have to go to the bank and ask them.
> 
> The Spanish word for credit rating is solvencia (solvency).
> 
> The amount of credit you get will depend on two things: The amount of income you have deposited in your bank account and how good you are at paying your bills. I'll use my case as an example...
> 
> INCOME - AMOUNT OF CREDIT: They only look at the income that is deposited in your Spanish bank account. I have two sources of income - an annuity and a pension. My pension is deposited in my Spanish bank account, and my annuity in my Canadian bank account. They only consider what is deposited in my Spanish bank account as income, and how much they lend me depends on this income.
> 
> BILLS: The bills they look at are only the ones that are paid through you bank account - rent, Netflix and mobile for me. If all of these are paid on time, you have good credit. The banks says my bills are sufficient to show that I pay bills on time, and putting the other apt bills in my name is not necessary.
> 
> Thanks all for your help. I hope this info helps someone else out.


I shan't be needing credit but that information is useful and informative. for everyone, not just those that do


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## baldilocks

We went to our bank recently to transfer a largish (for us) sum to the company who supplied the stairlift. Because the teller was at breakfast the manager served us and offered to lend us all or part of the cost of the stairlift without our asking (obviously gets commission on loans taken out) but we didn't need/want it.


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