Cadastro Positivo is a kind of database of good payers that securely gathers all payment information that the individual has already made or is making. Financial institutions authorized by the Central Bank (BC) can operate it and use this history to facilitate the granting of credit.
It is a fact that being negative or with significant debts is a serious problem for those who need credit. Accounts paid on time or responsible payment of debts seem to have little relevance, right?
Wrong! There is a national system that takes into account all financial conducts to guide and facilitate these decisions: the Cadastro Positivo.
If you want to know more about credit policies in the country, their advantages and disadvantages, we recommend reading the article: ‘What is credit policy?”
To understand what Cadastro Positivo is and how it works, keep following this post. We have separated the main information to help you activate your Positive Registration efficiently. Good reading!
What is Positive Registration?
As we said, the Cadastro Positivo is a database that gathers the history of credit behavior of UK citizens.
All information about how the individual settles his accounts is computed by the system. It is worth noting that the items or services purchased are not registered to preserve privacy and respect the consumer.
The Positive Register it is a financial curriculum in which the quality of the payer is presented to influence decisions in the credit market. This history is one of the factors responsible for scoring the credit score, so it is directly linked to concession.
Banks and financial institutions authorized by the Central Bank can operate this data and use it as a reference to calculate interest rates, increase the amount granted, facilitate credit operations. discharge, and so on.
What type of data does the Positive Registry store?
To facilitate the understanding of what is a Positive Register, see below the nature of the information that the Positive Register records:
- consumer registration data;
- total purchase price;
- total value of the parcels;
- number of installments;
- due date;
- total value of payments;
- punctuality of recurring payments.
This data is accounted for the following types of accounts that the consumer may have:
- credit purchases;
- bills for water, electricity, gas, telephone (except postpaid);
- medical and odontologic assistence;
- internet and pay TV;
- administrators of cards and financial institutions.
How does the Positive Register work?
Now that you know what Cadastro Positivo is, see at a glance how it works in Brazil.
Created in 2011 and sanctioned by law, the Positive Registry was modified by Complementary Law No. 166/19 in July 2021.
Until then, banks and financial institutions could only feed the payment history of customers who gave their consent to the operation. With the change, consumers can be registered automatically, without prior authorization.
Since then, financial institutions and the country's five largest banks (Itaú Unibanco, Bank of Brazil, Bradesco, Federal Savings Bank and Santander) began to register their consumers with the Cadastro Positivo.
As indicated by the law, whoever is automatically registered must be notified at up to 30 days via email, text message, or correspondence.
Management is carried out by four credit bureaus: Serasa, SPC Brazil, Quod and Good view. The registration in the system is carried out using the CPF (Individual Taxpayer Register) and is automatically updated to classify the individual as a good or bad payer.
In this way, lending companies will be able to analyze the profile of the consumer as a whole and not just by the status of his name in the credit market. The requesting client can obtain capital at more affordable interest rates and with less bureaucracy.
Positive Registration: main advantages
Advantage defines what is a Positive Register, after all, the system was created with a clear objective of facilitating the granting of credit to UK residents consumers and optimize your financial life.
Follow now, the main benefits of this payment history for consumers.
Easy to track your payments
One of the great advantages of the Cadastro Positivo is the ease of tracking your own payments. With all the data recorded in an organized and accessible way, all the effective settlements and their procedural qualities can be presented in case of need. In other words, everything that has been done in the consumer's financial life can be used to his advantage.
Easy to track and optimize your credit score
Credit Score it is the score that measures the market's confidence in the consumer's ability to honor its financial commitments in the next twelve months and that helps banks and companies to approve monetary concessions.
The Positive Registry also facilitates the monitoring and optimization of the credit score. The status of this fundamental score, which ranges from zero to one thousand, can be easily accessed by accessing the Cadastro platform.
That is, before any attempt, the consumer can assess his own situation with practicality and without difficulty.
More trust between business and the consumer
Another significant advantage that defines what is a Positive Register is trust. The system allows tenants and financial institutions to analyze their customers' payment history and not just the possible restrictions on your behalf, making access to credit less bureaucratic.
As consumption and discharge behavior is carefully analyzed, trust between companies and consumers is renewed.
Furthermore, if the individual is a self-employed and you need a loan or financing, for example, even if you don't have proof of formal income, you can get the extra capital thanks to your registration with the Cadastro Positivo.
Ease of getting credit
This is perhaps the greatest advantage of the Positive Register. The expectation is that this payment database will significantly improve the financial inclusion of UK residents consumers. That is, obtaining credit is made easier in every country.
According to SPC Brasil calculations, more than 22 million consumers will benefit from the Positive Register.
Decrease in interest rates
As we said, advantage defines what is a Positive Register. In addition to facilitating access, the system can also reduce the interest rate linked to the credit loan. Especially for those who already have access, it is very likely that the offer will increase and the fees decrease significantly.
Decrease in defaults
Another advantage of the payment database is the reduction in defaults. Following a simple logic, with more consumers having access to emergency capital, competition between credit operators will increase. With that, the default decreases as a consequence.
How to activate the Positive Register?
Understanding what is a Positive Register, how it works and what are the main advantages of this intelligent system for your financial life, check below some alternatives on how to activate your registration without difficulties.
Through the Positive Registry website
This is the quickest and easiest way to activate the Positive Registration. Just access the website of any institution authorized by the BC, that is, the four bureaus mentioned above, and follow the step by step indicated on the page itself.
The process is intuitive and quite simple. To help you, briefly see the registration steps:
- Access the website of one of the financial institutions;
- Search for “Positive Registration”;
- Click on “Open Positive Registration”;
- If you are already a customer of the company, enter your login / password already registered on the site. If not, click on the “register” option and start the process from scratch. Some companies also allow you to log in to the system through a Facebook, Google (G +) account, among others.
- Send a clear picture of yourself and a copy of the RG with CPF (front and back) in the fields requested;
- Fill in your registration data with complete and updated information;
- Click on “I agree to open my positive registration”;
- Once your registration is validated, you will receive a confirmation email.
- Once validation is received, simply access the website and check all the financial data you need.
By an authorized agency
Another way to do the Positive Registration is by going to a branch of a Bank or authorized financial institution.
You will need to present your basic documents, such as original RG with CPF or other legal identification document or a certified copy thereof.
It is worth mentioning that each company has its own service policy, so the access rules may vary.
For a company that has a credit partnership
It is possible to do the Positive Registration also in a company that you already have a credit relationship. In other words, a bank in which you have an account, a creditor financial institution, a credit union credit, stores where you have made a credit, and so on.
By letter of opening letter
Finally, the last way to start the registration that we will explore in this post is by sending an opening letter.
To do this, make sure that you understand what a Positive Register is, read all the terms of openness presented on the website of the chosen company and study its ways of accessing the database.
Once this is done, fill out the membership form with your personal data, print, sign, acknowledge the document's signature in the notary's office, attach a certified copy of your RG with CPF and send it by mail.
Did you understand what is a Positive Register?
Did you see? Understanding what is a Positive Register is essential to optimize your chances of obtaining credit concessions more easily, more accessible settlement conditions, improve the financial profile in the face of the market and, thus, reinvigorate the situation of your financial life.
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