Credit Information Bureau

Credit Information Bureau

• Collects

• It stores

• It processes

• Shares

banks and other institutions authorized to use BIK resources, comprehensive information on current liabilities and customer credit history.

Data collected in BIK concern both individual clients and entrepreneurs.

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Biuro Informacji Kredytowej (BIK) is an institution established in 1997 by banks and the Polish Bank Association under Art. 105 section 4 of the Banking Act of August 29, 1997 (Journal of Laws No. 140 item 939 as amended).

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When is the data transferred to BIK?

Data is transferred to BIK in two basic phases of examining a loan application: first when the customer submits a loan application, and then after taking a loan. Information on servicing this loan is updated by each institution cooperating with BIK at least once a month for the entire duration of the obligation. If the customer repays the loan on time, the customer's data will be processed in BIK from the moment they are transferred until the loan is fully repaid.

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What data is collected by BIK?

BIK receives identification data and information about credit obligations related to a given customer, indicating, among others, initial balance of liabilities, current debt status and credit history on a monthly basis. Banks, credit unions and credit institutions, through access to this information, can efficiently assess the customer's creditworthiness and creditworthiness before granting him a loan. Customers with a positive credit history have a chance to receive better than standard terms of using the offers. They are the most valuable clients, which in turn may translate into more favorable financial conditions, i.e. lower loan interest, shortening or simplifying procedures, lowering fees and commissions.

"Negative" data: information from the BIK database about unpaid, due liabilities of the consumer / entrepreneur within the banking sector.

"Positive" data: information from the BIK database about the timely fulfillment of financial obligations by the consumer / entrepreneur within the banking sector.

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History is the best recommendation

The most beneficial for the financial image of customers is the timely payment of all loans, which is tantamount to a positive credit history at BIK. A positive credit history therefore becomes a serious advantage when applying for further loans.

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Check your credit history

Contrary to the common opinion that BIK works only for banks, it should be emphasized that the data held by BIK can also be used by customers to whom the data relates.

If you want:

• get to know your BIK scoring score,

• find out your credit history,

• check if all your repaid liabilities have been properly closed in the system,

• whether there are any arrears in the serviced liabilities about which you have not been notified

go to the website bik.pl and download the report.