Did you get a minKreditkoll notification on Feb 1st? It’s important to keep your credit score monitored and up to date, and that’s why we talked about checking your credit score regularly (for free) in these guides for Sweden and Norway. In those articles we covered platforms such as minKreditkoll, and Defero, both of them offer a free notification service each time your credit score changes.
Let’s have a look at it in more detail.
You might also be interested in…
- Credit Score in Sweden: What is it and how to improve it? (Credit Check 2023)
- How To Check Your Credit Score In Norway FOR FREE (2023)
minKreditkoll Notification (Defero Notification)
minKreditkoll updates their credit core information periodically. Every time they do, if your score has changed, they automatically send you an email notification encouraging you to have a look at your new score. Your score might have changed for many reasons, for example, they got new information from Skatteverket (the tax office), you got new loans, mortgages or credit cards, etc.
The email looks like this.
Notice that sometimes they also share how the average score of all their users changed. For example, during January 2023, the member’s average score dropped from 60.4 to 60.2 out of 100.
Once you click on see your credit check, you will be taken to their website. If you log in with BankID, you will be able to see your updated credit score right on the landing page.
In my case, my score increased from 92 to 94.
You can also expand your score explanation for more detail. When you do, you will get a prompt like the follwing that includes the probability that you will not pay your bills, your payment history, your statistical age risk and if you own properties.
minKreditkoll: What does your credit score mean?
Remember that minKreditkoll
- 70-100: Very high solvency. Excellent chances of getting the loan application approved with the best loan terms and lowest interest.
- 40-69: High solvency. Very good chances of getting the loan application approved with good loan terms and low interest.
- 20-39 Average ability to pay. Chance to grant a loan but manual assessment may be needed. Possibility of good loan terms and low interest.
- 1-19: Low ability to pay. Little chance of a loan being granted. Manual assessment is usually needed. Less chance of good loan terms and interest.
minKreditkoll collaborates with the credit information company Creditsafe which calculates and provide a credit score between 1-100.
minKreditkoll and Defero are free solutions that you can use to check your credit score before applying for credit cards or negotiating mortgages or loans. They also offer free notifications each time your credit score changes, which is useful to have when you want to forget to check periodically.