Poles do not want their data to be in the BIK , but often they are not aware when they actually get there. It turns out that consumer awareness of this register is low. Let’s look at what information the Credit Information Bureau has and how it affects the granting of the loan. Is a loan possible without BIK ?
When do consumer data go to BIK?
Information about the consumer is sent to BIK not only when he concludes a loan agreement or stops repaying the liability. Information begins to be collected when a consumer applies for a loan to a financial institution, bank or loan company. This is done irrespective of whether the application is successful or negative.
The data from the Credit Information Bureau goes to a financial institution so that it can decide on the application received. Any change in the data, e.g. repayment of the installment, is recorded in the register. The bank provides information there within 7 days. Not only the borrowers (borrowers) but also persons who become guarantors (guarantors) reach the Credit Information Bureau. The commitment not paid within 60 days results in information in BIK about being late. This kind of data is stored in this register for 5 years!
How to increase the chance of granting a loan?
Everyone who repays a loan or loan in accordance with the agreement and schedule, contributes to building a positive credit history. This mechanism can be compared to building with blocks. If the borrower (borrower) agrees, once the loan (s) has been settled, the information will remain in the register and will be used to assess creditworthiness in the future. If not, the good story will disappear as soon as the entire commitment is repaid.
For this reason, when taking a loan or credit, it is worth agreeing to the processing of data by the Credit Information Bureau after repayment of the liability. You can gain a lot from it. The BIK report can be used to control your own credit history. It is worth using this solution, especially after repayment of the last loan installment. Downloading the report will determine whether the financial institution has provided all data to this register. In this way, the consumer can also check his scoring, i.e. scoring. Its amount depends on:
- timeliness in repayment of liabilities (the faster any possible arrears are settled, the greater the chance for an increase in the score),
- using loans or credit cards (maximum use of credit limits and credit card funds reduces scoring),
- the frequency of applying for a loan or a loan (the more often a consumer applies for a loan and at the same time gets refusal decisions, the worse he or she gets)
- experience in repayment of liabilities (the longer the history of repayable loans, the higher the score). 1
A good credit history gives you more opportunities to get a loan or a loan. Ensuring that only positive data is found in BIK is very important, because it makes it easier to get a loan. Lack of experience in regulating loans or credits means that people who have only recently reached the age of majority have difficulties in obtaining additional cash.
Financial institutions perceive this group of consumers as risky in providing financial services. The Credit Information Bureau has no data on such young people who could not have used loans before. Such people should try to get a stable income, take out a loan and pay it back regularly, and in this way they will shape a positive credit history.
How to check the BIK report? Does it cost
To download the report, you must register on the BIK website. When setting up an account, provide data provided on your ID card, and confirm your identity by sending a scan of that document.
It will not do without a verification transfer. After receiving the activation link and authorization code, log in to the website. Then you can download the report about yourself. A single BIK report costs PLN 39. You can also buy a report package for PLN 99. By downloading the report, the consumer may:
- make sure that no one took a loan for his data,
- check whether he is in default of payment,
- assess the chance of receiving a loan.
Negative entries in the register of debtors. Is a loan possible without BIK?
Infamous information in BIK is something that the consumer does not want to brag. Indebted persons seeking a solution from a difficult situation in the form of a new loan usually face a negative decision in both a banking and non-bank financial institution.
Currently, almost all loan companies check the data stored in the Credit Information Bureau. For this reason, a loan without BIK is only available from selected lenders. However, it should be borne in mind that the assessment of creditworthiness will probably be made on the basis of other registers. Otherwise, the financial institution will require additional security for the loan, e.g. in the form of a guarantor or assets, to limit the loan risk.