What is BI Checking & How to Check Your Bank Indonesia Credit Score

Did you know that the loan history you’ve applied for is recorded in a system? This system is called BI Checking, or now more commonly known as the Financial Information Service System or SLIK BI. In the process of applying for bank loans or pawning services in Indonesia, BI Checking is crucial. Why is that? Read this article in full to learn not only what BI Checking is but also how to check your personal credit score!

‍

What is BI Checking?

BI Checking is an online system that records all credit transactions held by the entire population of Indonesia. The data entered into this system includes the customer's identity, collateral provided by the customer, and the customer's payment history or collectability.

As a customer, you can do your own BI Checking online and check your Bank Indonesia credit score. It's not just customers who can access this system. Banks and other financial institutions can also view the BI Checking of prospective borrowers to determine loan limits, assess credit scores, and ensure the borrower's ability to repay credit. If the borrower has a good payment history, it will be easier for them to access new credit.

For example, if you frequently use a credit card for shopping and always pay the bills on time, it means you have a good collectability status, and you're more likely to be eligible for other credit programs. On the other hand, if you keep delaying payments on your credit card or pay later services, your collectability could be considered poor.

‍

How to Use BI Checking Online (Latest from OJK)

‍

‍

You might be wondering how to perform a self BI check. Well, there are two ways: first, you can visit the nearest OJK office in person with the required documents from Monday to Friday between 09:00 AM - 03:00 PM. The second way is to check BI Checking online from home by opening the idebku.ojk.go.id website. Here is the latest way to check BI Checking online:

• Prepare the required documents. If you're checking BI Checking yourself, you only need your e-ID card (e-KTP). But if someone else is representing you, you will need to provide a power of attorney letter.
• Open the idebku.ojk.go.id website.
• Click on the "Registration" menu.
• Enter your personal data and the captcha code correctly.‍
• Click next.
• If the service quota is still available in that session, you will be asked to input your personal data again. However, if the service quota for that session is full, you will receive a notification with the next available schedule.
• After filling in your details correctly, you will be asked to upload the required documents and take a selfie as per the instructions.
• Check the statement column to confirm data accuracy.
• After that, you will receive an email from OJK containing your registration number.
• The registration process is complete. You will receive an email from OJK with the BI Checking result the following day (approximately 1 day).

That's it! This is how you check BI Checking with OJK. You can also track the progress of your registration by visiting idebku.ojk.go.id and selecting the "Service Status" menu.

‍

Credit Score Criteria in BI Checking

‍

‍

When a bank is checking your Bank Indonesia credit score, it will show whether you are consistent in paying your credit based on your credit score. This score is divided into 5 categories:

1. Score 1 = Credit is good. This means you always pay your credit installments on time.
2. Score 2 = Credit under special attention (DPK). This means you have missed several installments within 1-90 days.
3. Score 3 = Credit is not good. This means you have missed payments for 91-121 days.
4. Score 4 = Credit is questionable. This means you have missed payments for 121-180 days.
5. Score 5 = Credit is bad. This means you have missed payments for over 180 days.

The higher your credit score (3-5), the harder it is for you to get a new loan, because it means the bank has to bear higher risk in lending money to you.

‍

How to Maintain a Good Credit Score

After you know how to check your credit score, you should strive to keep it in good standing to make it easier for you to apply for loans.

1. Pay Your Credit Bills on Time

One way to maintain a good credit score is by paying off credit installments on time, whether it’s paylater, a credit card, or a bank loan. To keep your credit status smooth, make sure to set aside money for paying off credit or debts when you receive your salary or income. For example, if your monthly salary is Rp3,000,000, allocate at least Rp900,000 to pay off debt installments.

If you're an Honest credit card user and pay your bills on time, you can also save more. Honest credit card offers a 0% interest & fee program if your bill is paid in full and on time.

2. Avoid Using Credit Recklessly

Another way to keep your credit score safe is by ensuring that you use credit cards or pay later services mindfully. Ideally, a credit card should be a tool to help manage cash flow. In addition to emergency needs, you can use a credit card for daily expenses, as long as it has been budgeted for beforehand. For example, using a credit card to pay for an online ride when commuting to the office from the station. Make sure to estimate the cost of the ride for a one-way trip and try to keep the expenses within reason.

3. Control Your Credit Spending

If you're using a credit card or pay later as one of your payment methods, it's advisable to keep track of your credit spending. The goal is to prevent overspending so your credit bill doesn't become too high.

For more convenience, you can use the Honest App. With both the card and app, you can easily track your credit spending and stop it once you’ve reached the limit.

Want to get credit or a bank loan easily? Make sure you know how to check your own BI Checking and keep your credit score safe.

‍