A credit score is a number that shows how well you manage your finances and debt. The higher your credit score, the more likely you will get approved for credit or loans. Credit scores typically range from 150 to 659, with the following breakdown:
Excellent: 597 - 659
Good: 562 - 596
Fair: 520 - 561
Poor: 320 - 519
Very Poor: 150 - 319
What is the difference between SLIK (formerly known as BI Checking) and a credit score?
SLIK (Sistem Layanan Informasi Keuangan) is a report that contains your loan and credit history, including payment records, debts, and any late payments. Banks and financial institutions use SLIK to review all your credit activities before approving new loan applications.
On the other hand, a credit score is a number calculated based on the data from SLIK. This number indicates how risky you are as a borrower. The better your credit history in SLIK, the higher your credit score, and the more likely you will get approved for loans or credit.
In simple terms:
SLIK is a detailed record of your credit history.
Credit score is a summary number derived from the SLIK data to assess your creditworthiness.
Why is a credit score important for me?
A good credit score can unlock many opportunities. It makes it easier for you to get loans with lower interest rates, access premium credit cards, and get quicker approvals from banks or financial institutions.
How do I improve my credit score?
To improve your credit score, pay your bills on time, avoid excessive debt, and keep your credit usage within recommended limits. The better you manage your debt, the higher your credit score will be.
How do I check my credit score through Honest?
Checking your credit score is super easy! Download the Honest app, apply for the Honest Card, and your credit score will be sent directly to your WhatsApp in as fast as 2 hours.
How do I check BI Checking on my own?
To check BI Checking on your own, visit the OJK website or the bank branch that provides SLIK services. Honest currently does not offer the feature to check BI Checking within its app. See here for the complete guide to check BI Checking.
