Empower Your Finances: Your Guide to Checking Your Credit Bureau
You might be familiar with the concept of a credit bureau, which acts as a repository for our financial history, documenting various credit-related transactions we've been involved in. When we contemplate important financial endeavors such as applying for a home loan, purchasing a car, or obtaining a credit card, financial institutions delve into this data to assess our financial track record. They particularly check for any negative financial history. In this article, PropertyScout is ready to guide you through the straightforward process of checking your own credit bureau. Let's discover how easily you can do it on your own.
What is Credit Bureau?
A Credit Bureau is the 'National Credit Data Company Limited,' which is responsible for collecting data on all your financial transactions, including credit card usage, cash advance loans, home loans, car installments, and more. It records and stores your entire financial history, whether it's good or bad. In simple terms, it serves as an intermediary that provides financial transaction data to various institutions for assessing credit approvals or loan applications.
The process involves examining this data to evaluate spending habits and debt repayment discipline each month. This ensures that when financial institutions or banks approve credit for individuals, the borrowers can adhere to the loan terms and repay debts accordingly. Hence, being 'listed in the Credit Bureau' or 'blacklisted' simply refers to those individuals with a history of poor debt repayment or failure to comply with loan agreements. It does not involve being listed in any specific system.
Checking Credit Bureau
Credit Bureau Monitoring Centers
According to the Credit Information Business Act of 2002, Section 25, for the benefit of data owners and to ensure fairness, data owners have the right to access and review their own information. Credit Bureau Public Company Limited (Credit Bureau) is pleased to provide you with the opportunity to check whether you are listed in the Credit Bureau. The procedures conducted by the company (Credit Bureau Monitoring Center) are as follows:
The 9th Towers Grand Rama 9 2nd Floor (Plaza Zone)
- Opening hours: Mon-Fri 9am-4:30pm (closed on public holidays).
- Available for individual customers and authorized credit scoring (both individuals and legal entities/corporations/legal entities with power of attorney/foreigners). For legal entities, service can also be accessed via registered mail.
Pearl Bangkok 3rd Floor (Bank Zone) (BTS Ari Exit 1)
- Opening hours: Mon-Fri 9am-6pm (closed on public holidays).
- Specifically for individual customers and authorized credit scoring (individuals)/foreigners.
BTS Saladaeng Station
- Opening hours: Mon-Fri 9am-6pm (closed on public holidays).
- Specifically for individual customers and authorized credit scoring (individuals)/foreigners.
Tha Wang Lang, located at the entrance-exit area of the pier, near Gate 8 of Siriraj Hospital
- Opening hours: Mon-Fri 9am-6pm (closed on public holidays).
- Specifically for individual customers and authorized credit scoring (individuals)/foreigners.
BTS Mo Chit Station
- Opening hours: Mon-Fri 9am-6pm (closed on public holidays).
- Specifically for individual customers and authorized credit scoring (individuals)/foreigners.
J-Venue (Nava Nakhon) 3rd floor, adjacent to the Social Security Office
- Opening hours: Mon-Fri 9am-6pm (closed on public holidays).
- Specifically for individual customers and authorized credit scoring (individuals)/foreigners.
The Steps to Take in Checking your Credit Bureau at monitoring centers
Required Documents:
- For Individuals
- Please present your valid national identification card, passport, or original foreigner identification card for verification.
- For Legal Entities
- Please provide a copy of the certified document certifying the legal entity, not older than 3 months, and signed by an authorized director.
- Include a copy of the national identification card or passport of the authorized director and their signature for verification, along with the original documents for inspection.
- If available, provide the official seal or stamp of the legal entity for the credit information verification application.
The data owner authorizes another person to act on their behalf and provides the following supporting documents:
- For Individuals
- Prepare the letter of authorization for an individual person, fill in all the required details, and ensure that the signature is complete and accurate.
- Provide a copy of the national identification card of the authorizing person, along with their signed certification of accuracy, and present the original document for verification.
- Provide a copy of the recipient's national identification card, along with their signed certification of accuracy, and present the original document for verification.
- For Legal Entities
- Letter of Authorization for a Legal Entity. Please complete and sign the letter of authorization with all the required details accurately.
- A copy of the certified document certifying the legal entity, not older than 3 months, and signed by an authorized director, with the official seal or stamp of the legal entity (if available).
- A copy of the national identification card or passport of the authorized director, with their signature and certification of accuracy, along with the original document for verification.
*Data owners can request to receive the credit report on the same day of application or submit a written request for delivery via registered mail (registered mail delivery costs 20 Baht per copy).
Check Your Credit Bureau Yourself Through the Kiosk
Credit Bureau Public Company Limited (Credit Bureau) provides a self-service Credit Bureau Checking Kiosk (Kiosk) that allows customers to receive various credit reports, including Credit Bureau reports, credit scoring reports, summarized Credit Bureau reports, and Electronic Credit Reports (E-Credit report) via email instantly. Additionally, customers can also obtain printed reports at the counter.
Check Your Credit Bureau Online
The following are ways to check your credit bureau online:
Email Report
- KKP Mobile app, instant credit and credit scoring information via email. For more information, call 02-165-5555.
- TTB Touch app. For more information, call 1558.
- Krungthai Next app, receive credit and credit scoring information via email within 24 hours (subject to Credit Bureau's conditions). For more information, call 02-111-1111.
*Sending the NCB e-Credit Report electronically allows you to receive the information within 3 business days. The service fee is 150 Baht.
Report delivery through Registered Mail
- Option 1: Bank Counters (all branches) of Krungsri, Krung Thai, TMB, Land and House, and GSB. Notify the staff at the counter and present your national identification card.
- Option 2: Use your ATM card from Krung Thai or SCB. If you have a card from another bank, use the ATM of that bank and select the "Credit Bureau Check" menu.
- Option 3: Use the mobile applications for Krung Thai, TTB, and Kiatnakin. Perform the transaction through the bank's mobile app on your smartphone.
- Option 4: Use the online service via the websites of Krungsri and Krung Thai.
- Option 5: At any Thailand Post office counter and Post Office service counter nationwide.
*Once you check your Credit Bureau through these channels, you will receive the registered mail report within 7 business days. The service fee is 150 Baht. For further inquiries, please contact Thailand Post at 1545.
Legal Protection for Data Owners in Case of Loan Denial Due to Credit Bureau Listing
If a financial institution denies or declines your credit application, citing the Credit Bureau under the Credit Information Business Act of 2545, which safeguards data owners, you have the right to inquire about the reasons for the decision. You can easily check your Credit Bureau for free at the mentioned service points by providing your valid national identification card and the credit rejection letter (within 30 days from the date of rejection).
It's worth noting that the Credit Bureau retains payment history for up to 24 months. Therefore, all payment data from the past 24 months will be visible. If you have a history of making timely payments without any delays or defaults, you need not worry about being blacklisted.
Closing Comments
Having a history of late or missed payments, even for a single installment, can result in a negative credit history, being listed on the Credit Bureau, or being blacklisted, a topic commonly discussed. Such payment defaults can create obstacles when seeking loans or pursuing financial goals. It may take around three years to clear the blacklist, leading to missed opportunities for significant investments like buying a house or a condominium. Prioritizing financial discipline before getting into debt is highly recommended for a more favorable financial outlook.
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