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Now you have to get rid of credit cards that you do not use


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Total consumer loans from Norwegians increased from $ 39 billion in 2008 to $ 100 billion in 2017. Consumer debt continues to rise and surpassed 117 million US dollars, according to a recent report by Finanstilsynet.

On Monday, July 1, the debt record is scheduled, after several years of waiting.

Three players have allowed you to gather information about Norwegian consumer debt:

  1. Evry is behind the AS Register.
  2. Norway Finance is behind Norsk Gjeldsinformasjon AS.
  3. Experian is behind Experian Gjeldsregister AS.

– New debt information companies will provide better information about the customer's total customer debt and reinforce the bank credit assessment base, according to Morten Baltzersen's financial supervision authority.

All debt records are free for people and contain the same information.

Here are four consequences of the debt record, which may be important for you.

1. A better overview of unsecured debt

Individuals will now have greater control over their debt situation.

The registration can be seen all day a debt without a guarantee; credit cards, consumer loans, purchase credits and billing cards.

However, there are some types of loans and debts that are lacking in the general view and that you have to have control of yourselves:

  • Mortgages taken as mortgages.
  • Loans with mortgages on movable property, such as car loans.
  • Beginning of the loan to buy housing.
  • Loans for students.

The interest rate will continue: – Probably we hope to renew the bathroom, says Hanne Stokke Nørving.

2. Unused credit cards are counted as debts

Previously, unused credit cards have been of little importance. Now, however, the total credit limit of your credit cards will be counted as part of your debt.

While the cards are registered with you, they will count as credit to the debt record. This is because you can actually go and use a credit card at any time. Therefore, banks are required to take into account the credit line of all credit cards registered with individuals, according to Cecilie Tvetenstrand, Consumer Economics of Danske Bank.

For example, if you have a credit limit of NOK 11,000 on a credit card, we will now count as debts of 11,000 NOK, even if your balance is equal to zero.

She recommends getting rid of all credit cards that you do not use and think about the credit framework you need.

Magne Gundersen, Consumer Economist of Sparebank 1, believes that it is especially important for a group:

– Smaller home buyers, in particular, who want to settle for the first time in the home market, should think of demotivating their credit line with credit card and considering getting rid of it of credit cards if they have more than one. If you want to enter the market, every thousand euros can be decisive to get the house you want.

3. More difficult to get a mortgage

Previously, the banks did not have an overview of Norwegian consumer debt, unless the customer himself said so.

– Now it will be impossible to hide anything. This can make banks offer you a lower loan or, in the worst case scenario, they will reject your mortgage loan application, if you have quoted a lot on credit, says Tvetenstrand.

Credit ratings become more accurate. In other words, the new debt record may be aimed at obtaining the loan limit you want.

– For the vast majority, the debt record will have a minimal or no impact on the possibilities of the loan. But some of them probably find it more difficult to obtain a mortgage or that a lower level of the loan is achieved than expected when it was contacted by the bank for the first time, says Christian Vammervold Dreyer, general director of Real Estate Norway.

If the debt record causes you to grant a mortgage or receive a lower mortgage, can affects the housing market.

– The new debt record will contribute to better credit management to banks, and this will affect the real estate market. But, when the wet effect has been found, it is currently uncertain, says Dreyer.

Brokers fear that the rise in house prices will lead to an increase in the use of consumer loans

4. More difficult to enter the "luxury trap"

Debt registrations can prevent people with a significant amount of debts from ending up in a situation that is getting worse. They simply will not have the opportunity to generate new credits or credits to the consumer.

"Those who do not have to have more debts can not lie or give false information to the banks to raise a new loan to provide services to the old debt," says Gundersen.

We have previously written about Carina Aalykke, who was cheated by the former couple who obtained several loans on their behalf. With the new debt record, Tvetenstrand believes that it will be more difficult to implement this type of fraud in the future.

"In combination with the new stricter regulations for consumer loans, the debt record will largely prevent fraudsters from having many major loans simultaneously," he says.

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