What Lenders See When They Check Your Credit Profile in Nigeria

Credit Score and Risk Rating

The first thing most lenders see is your credit score. This number gives a snapshot of your borrowing behaviour. A high score means you’ve paid back loans responsibly. A low score signals risk, maybe you've defaulted on a loan or paid late multiple times.

Lenders also see a risk rating or classification. These ratings group borrowers into categories like low-risk, medium-risk, or high-risk. The higher your risk level, the less likely you are to get approved or get good terms.

Account History

Lenders look at your credit account history, how many loans you’ve taken, how much you borrowed, and how consistently you paid. If you’ve paid on time, that helps your chances. If you've missed payments or defaulted, it raises red flags.

They can also see the type of credit you've used: short-term loans, digital loans, bank loans, credit cards, or store financing. A healthy mix of well-managed credit can improve your profile.

Current Debts

Your credit profile also shows your current debt obligations. Lenders check how many active loans you’re still paying off. Too many open loans may suggest that you're overextended, which can lower your chances of getting new credit.

Negative Events

Late payments, defaulted loans, court judgments, and accounts written off as bad debt are visible in your report. These can damage your chances significantly. Some lenders will reject applications if these issues appear, even if they happened years ago.

Personal and Identity Data

Your BVN, phone number, address, and employment information may also be visible. This helps lenders confirm your identity and cross-check your financial activity across different platforms.

Download the Scorewise app on the App Store or Play Store to check your credit score, track your credit health, and make informed financial decisions.