Credit history is the sum of data collected at BIK regarding our loans that we currently pay back or have already paid off. One of the most important information is whether repayments were regulated in a timely manner.
This applies to any credit product, and therefore also installment or credit card purchases. If the loans are repaid on time, then we will have a good credit history. If, however, we were delayed in repayment of any liabilities, it will be visible in BIK, and thus we may have a problem with, for example, taking out a loan. The only solution in this case may be a loan for indebted people, which is not always granted on favorable conditions for us.
Where does our credit history in BIK come from?
Our data is sent to BIK whenever we are trying to get a loan from a bank or another financial institution that works with BIK. Then, when the loan is granted to us, information about how we pay off the debt is sent to BIK.
Why are such data collected at BIK?
Before granting credit, banks must estimate the risk with which we will be lending money to us. The data collected at BIK are helpful in this case. When we submit an application to a bank or other financial institution, it sends a request to BIK for the course of our credit history. If the existing liabilities were repaid on time, our application will be considered positively.
The information collected at BIK also shows the number of loans taken out, as well as the total amount to be repaid. These are very important information, which to a large extent determine whether the loan will be granted to us.
How long are the data in BIK stored on our subject?
Data on the credits we take are visible at BIK, as long as we have not agreed to the full repayment of the data. It is worth doing, because thanks to this we have the opportunity to build your own credit history. Without granting the aforementioned consent, the repaid loan will “disappear” from our history, and it would be a pity to lose such an advantage, especially if we repaid it on time.
We can consent to the processing of our credit data at the time of signing the contract. If we do, data on loans granted to us will be made available for checking to other financial institutions. The credit history will, however, be made available only for a period which will be indicated on the signed consent, no longer than 5 years, or until we have canceled it ourselves.