What is a credit bureau?
Credit Bureau History
credit bureau blacklist
- Normal (010) :Pay debt in full, on time, with no outstanding balance, suspended payments, and overdue payments.
- Close account (011) :Pay debt in full. Ready to close the account.
- Not in arrears (012-014) : The creditor submits a request to suspend payment of debt.
- Considered bad debt (020) : Overdue for more than 90 days.
- Debtors affected by special circumstances (021): Overdue for more than 90 days.
- In legal process (030)
- In the process of repaying the debt according to the judgment (031)
- The court dismissed the case. Due to the expiration of the statute of limitations (032)
- Account closed due to write-off as bad debt (033)
- In the process of paying the loan to close the account (040)
- The owner of the information requests to check the item (041)
- Transfer or sell debt that is overdue for more than 90 days (042)
- Transfer or sell debt and complete debt repayment (043)
- Transfer or sell debt that is in normal account status (044)
The role of credit bureaus
Credit bureaus in Thailand
Benefits for consumers
- Access to credit: A good credit history and high score increases your chances of getting credit from a financial institution. Whether it's a personal loan, credit card or mortgage.
- Bargaining power: A strong credit history allows one to negotiate better terms, such as lower interest rates. Higher credit limit and appropriate repayment conditions
- Financial planning: A credit report provides a comprehensive overview of a person's financial obligations. Makes it possible to manage finances efficiently and make informed decisions
- Fraud Protection: Regularly checking credit reports helps individuals detect suspicious activity or unauthorized accounts. Reduce the risk of identity theft and fraud.
Impact on business
How to check credit bureaus and credit scores