When making a decision to grant a bank, banks pay more than just the amount and regularity of a client’s earnings. The second very important parameter is the so-called credit history. It consists of data from the BIK and KRD databases, which the bank thoroughly analyzes before issuing a loan decision. What impact do we have on our credit history and can it be improved?
Information related to the credit history is contained in the register kept by the Credit Information Bureau. They are obtained from banks and loan companies that cooperate with such an office. So if someone wants to improve their credit history, they must regularly pay their liabilities and check their reports. Therefore, using the service known as BIK will allow the report to check the information collected in the database about the regularity of payments made, or any arrears or regulated bank payments.
So let’s check what are the most important rules for cash loan repayment.
Can you improve your credit history?
BIK keeps data on unpaid liabilities, for 5 years after their settlement. However, it is worth getting rid of debts quickly. Unpaid liabilities create a negative credit history. This, in turn, is a serious burden if we apply for another loan or loan. Many people wonder how to clean BIK. The simplest option is to pay your debts on time. Even delays in repayment of liabilities are recorded in BIK and transferred to the bank during credit analysis. Repayment with a delay has a negative effect on history, but on the other hand, the bank takes into account that the customer, however, finally repaid the liability. See how you can solve the problem of loan repayment.
Unfortunately, there is no other solution for clearing data in BIK, but to settle overdue obligations and wait 5 years. There are three situations in which you can submit a request for deletion or correction of data in the Credit Information Bureau:
- withdrawal of consent to the processing of data regarding a loan that has been repaid on time.
- application for deletion of data on a problematic loan after 5 years (the entry should be deleted automatically, but it is worth submitting such an application for certainty).
- correction of false information about yourself.
How to check if I am in BIK?
Everyone has the opportunity to check their data in BIK and take appropriate steps to improve creditworthiness. It is worth verifying your data and applying to the Credit Information Bureau for a report about yourself. Regularly checking such information will avoid unpleasant surprises.
Can I get a BIK report for free?
The good news is that once every 6 months, every customer is entitled to a BIK report for free. The application may be submitted in person at the Credit Information Bureau, by post or via the Internet, in a convenient way without leaving home. Checking contractors or more often requesting your own report is associated with the need to pay the appropriate fee.