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More credit. Better credit terms. More objective assessment of the creditworthiness. These are just few of the benefits of a good credit report to you, the borrower. For the first time in Armenia, credit reports are available on borrowers, containing factual records of their credit history. Armenian banks and other financial institutions can now request credit reports from ACRA Credit Bureau for making faster and more objective credit decisions.

When you approach a credit grantor or insuring company for credit or an insurance policy, your application will be evaluated on the basis of your past payment history, credit lines and other factors (e.g. income) etc. In this case, a good credit report is one of the best indicators of your basic credit-worthiness. If the Credit Bureau reflects a good past payment history of the borrower that may lead to credit being granted on better terms. On the other hand, a credit report, which indicates that a borrower has been delinquent on several occasions, could lead to denial of credit.

To ensure a good credit history, it is important to re-pay your loans on time. The "buy now, pay later" approach has left borrowers fighting a battle that is difficult to manage. In this scenario, it is extremely important for you to maintain appropriate, reasonable and affordable levels of credit and ensure regular and timely re-payment of loans.

Ways to improve your credit history:

• Establish a budget immediately to control your spending habits.


• Study on how you can cut interest and other credit related costs.


• Set goals and limits.


• Use some of your savings to repay some of your debt, which may save you higher interest costs.


• Resolve to repay your debt in good time. Either pay off a high balance account, or pay off two or three of your smaller balances.


• Always pay on time.

If you have any further questions, please feel free to e-mail us and a customer service representative will contact you shortly.