Facts about the Credit Information Bureau
People applying for a loan or those who are just about to tackle this topic have probably met with the name Credit Information Bureau, or BIK for short. What does this institution do and how does it affect whether a person applying for a loan or credit will receive a positive response? Below are some facts about BIK?
In a nutshell, it can be written that BIK is the largest data collection in Poland about individual clients and entrepreneurs, and more precisely about their financial commitments. There is information about loans and bank loans as well as non-bank loans.
What do the numbers say about BIK?
At present, the Credit Information Bureau has a huge amount of information in its database, in total 140.1 million bills, which belong to 24 million individual clients, as well as 1.1 million information about the credit histories of companies, of which up to 760 thousand active credit liabilities . entities.
Date of creation and legal provisions
The Credit Information Bureau is over 20 years old, so it is not a new institution. It was precisely created in 1997 by banks and the Polish Bank Association, and it happened on the basis of art. 105 paragraph 4 of the Act of 29 August 1997 Banking Law.
BIK does not decide to grant a loan
There is a misconception that BIK depends on whether we receive a loan or a loan. This is not true, because BIK does not decide to grant a loan to an applicant. The task of BIK is only to provide information about the credit history of a given person or company. This information is used by banks and loan companies in the process of assessing creditworthiness and creditworthiness.
Information contained in the BIK
BIK is a collection of particularly valuable information for lenders, including information that is divided into positive and negative information. The former include all loans and credits repaid in a timely manner, while the latter are unpaid loans or those with late repayment. Information processed in BIK includes, among others: loans for the purchase of goods, housing loans, employee debit cards, retail cards and many others.
BIK not only for banks
BIK collects information that may also be useful to potential borrowers and all those who want to control their finances. It is in BIK that you can check whether someone has impersonated our data and has not taken out a loan or credit. Thanks to the BIK Alert functionality, you can receive SMS notifications about any attempts to extort credit on our data and feel secure.