Credit Information Bureau – friend or foe?
You go to the bank in the hope of getting financial support for a specific purpose. You fill out the application and forward it to a bank employee … and you receive a negative answer. It turns out that your credit history at the Credit Information Bureau is negative and that is why you will not receive the money you were hoping for. Is popular BIK really your enemy? Should you be afraid of verification in BIK? When does the Credit Information Bureau become your friend?
It is an enterprise that cooperates with all banks and financial institutions
Its task is primarily to collect, integrate and further share data related to the credit history of consumers, banks or other institutions. The purpose of its activity is to analyze the credit risk associated with granting a loan to a specific person or company. This allows us to limit the extortion of credit by economic criminals and to monitor the current debt of consumers.
BIK not only provides negative information to interested parties, but also collects positive information about credit history. Please note that all information processed and transferred to banks and financial institutions is strictly protected. They can be downloaded only as a result of submitting a loan application by a specific person. What does it mean? No one can check our credit history without our consent.
Is BIK a necessary institution or not?
Of course it’s a helpful institution! It allows you to objectively determine whether you as a potential borrower are a reliable customer. This determines whether the bank can trust you by entrusting you with its money.
After all, it’s their own fair money! What’s more, you as a customer have the opportunity to verify whether the bank where you intend to take out a loan has a stable financial situation and will allow you to sleep peacefully.
Some think that the Credit Information Bureau is negative
After all, the granting of credit is often discussed by this institution. However, it is often a very good decision in the long run. In a situation where our financial situation is uncertain, BIK will give us a honest answer to the question of whether we are able to repay the liability. It may seem to us that we can manage, but the truth is quite different.
This is the basic task of BIK. For many years, BIK has protected the portfolios of all consumers in Poland by pointing to persons and institutions that should not be granted credit. We all make up the losses associated with unreliable borrowers!