Chile Forum

Hello to all:

I was wondering if anyone new how to establish credit in Chile. I am a national with a RUT and have had a savings account in Chile but I have never officially been employed in Chile. What is the procedure and options? Anyone

Get a job you bum!!!

I am only sort of joking about that.

Most important single thing is consistent monthly tax declarations. At least a million pesos a month to the IRS for 6 months to a year to even be in the game. More is better. Everyone will want to see that.

Next checking accounts (which are credit in Chile as they come with credit cards). Savings accounts don't count, and in fact I have seen some banks start to eliminate them all together.

Having a house or car may help. Utility payments, and so on. Normal active credit sort of use.

Though I know little about how this works generally, there's obviously an element of Puelche's round room here (ie. getting your foot in the door). My case is atypical, but I was very quickly able to strike up a relationship with the bank on the strength of my job, as my company is well known to them, without filing any tax declarations (though the bank already had my salary details without consulting SII). No doubt Admin's advice will get most people there fastest though (and one way or another you need the job).

Cheers,

James.

jehturner wrote:Though I know little about how this works generally, there's obviously an element of Puelche's round room here (ie. getting your foot in the door). My case is atypical, but I was very quickly able to strike up a relationship with the bank on the strength of my job, as my company is well known to them, without filing any tax declarations (though the bank already had my salary details without consulting SII). No doubt Admin's advice will get most people there fastest though (and one way or another you need the job).

Cheers,

James.

I second this, i was in the exact same situation!,

In reality. I'm trying to figure out...how the system works. Is there a credit score? Is there an "Experian...Trans" type of system, and if not who documents activity. If it were the case in the States, and all of a sudden you have credit score tracked by ones social security number. If then the RUT number is the parameter then what would the effect be if is dormant for so long because one was in the states the whole time.

Digital:

Can someone explain it in more details

you have dicom.cl that gives you a score that no one can work out how it scores you, but if you get a bad debt listed on dicom, its all over! (it is traced by your rut)

what everyone else is saying, if you want to get money from a bank for a house, or a car, or a credit card.

the things that really matter are:

1. A job with over 1m pesos per month,
2. A perm contract with a company
3. Evidence of your income via payslips and tax returns (of course with your rut)
4. A good relationship with your bank manager
5. no bad debts registered with dicom (with your rut)

that will do it for you

Even if you do not have a job in chile or even residency yet (for new people), declare some monthly income to the irs to speed building a credit record.