Credit Reporting

[jukung11]

Does anyone know what the credit reporting process is in Indonesia?

I have not needed to deal with that yet, but there have been a lot of different policies and experiences from the credit card thread. Over the years I have read questions about other banking services such as lines of credit or loans.

I am familiar with the major reporting agencies and how to monitor and build my credit from my home country (which I have done), but I do not know if there is any overlap to Indonesia. Does anyone know how to transfer credibility through different financial systems?

 

[Vanuatu]

As far as I know the individual banks keep track of your credit on, I believe, a 1 to 5 basis. If you have a loan or credit card and get a monthly statement you may be able to find your credit rating with that individual bank printed on your statement. Often when applying for a new CC or loan the new bank will ask you for your statements so they can see your ranking at the bank in which you have an existing relationship. I don't believe there is a central credit reporting agency that keeps track of your overall score as found in many other countries.

 

[jstar]

For about ten years now, there is a Credit Bureau in place. It is created by BI and called BIK (Biro Informasi Kredit). They have the IDI (Individual Debtor History) but as so often, that system does not function so well. There were plans to roll out further than the banks a couple of years ago but as far as I know, that never really happened.

Some more info from BI: http://www.bi.go.id/en/perbankan/biro-informasi-kredit/idi-historis/Contents/Default.aspx

 

[jukung11]

Thanks Jstar. That was what I needed. I got the impression from many threads that once you got some credit from someone, you got more offers from other financial institutions, so I assumed there had to be some centralized credit agency.

 

[Vanuatu]

That's good to know, I used to deal with the banks all the time, even helping on some mortgage loans for clients and no one ever mentioned the BIK.