When I was a child, I had no interest in the credit score, credit score, etc., but when I opened my eyes to the financial and tech economy, I felt the need to manage without neglecting any of them.
The fact that managing my credit immediately affects the issuance of credit cards and loans, so it is necessary to manage it with some interest.
Today, I will summarize how to check and inquire about the credit rating score sheet, tips for raising your credit score, and more. 토스 신용등급 조회
Rating system → Point system change
Credit rating refers to a rating that classifies a person’s credit status by synthesizing various credit information of an individual. 이베이스매뉴얼
The type and size of credit transactions, period and loan status, overdue history and current debt status are combined to determine how good the credit rating is. .
From 2021, the rating system has been changed to a point system!
It was changed to a method of giving points from 1 to 1000 points, but in the existing rating system, even if you were at the top of the rating section, you could suffer a disadvantage due to the difference in rating.
For example, even if a score of 664 belongs to the 7th grade (600 to 664 points) in the rating system and is similar to the lowest level of the 6th grade, the 7 grade is applied during the loan review, so it will be difficult to borrow from the first financial sector.
A point system was introduced to improve the difficulty of moving between grades and the large disadvantages, and since the evaluation is made in units of one point, it is possible to receive a more detailed loan review.
Credit Score Calculation Criteria
As the rating system was changed from the rating system to the point system, individual credit rating agencies KCB and NICE partially reorganized the evaluation items.
For non-financial items, such as telecommunication charges and health insurance, if you have a history of payment, you can get good grades even if you do not have an existing financial history. Conversely, even if the loan is repaid well, if the telecommunication fee or health insurance is overdue, the score will drop.
Another criterion is card consumption. KCB increased the share of card consumption to 38%, and Nice also increased it to 29.7%.
In the past, credit card usage was reflected, but you can see whether credit and debit cards are being used at an appropriate level. If the credit card payment amount increases and leads to delinquency, the score will be lowered.
The loan amount is also an influencing factor, and reducing the remaining loan amount is one of the ways to raise your credit score.
In the past, only the type and amount of loan products were reflected, but the ratio and repayment ratio and the interest rate range of existing loans also have an effect.
The current delinquency and past debt repayment history conditions were reduced from 40.3% to 30.6% in Nice and from 24% to 21% in KCB.
One thing to note is that credit card issuance and low-income financial products also reflect the criteria for credit rating scorecards.
Credit cards are provided to those with a Nice Pyeongro score of 680 or higher and KCB score of 576 or higher. Support for low-income financial products is available at Nice 744 points or less, KCB 700 points or less, and Nice 859 points and KCB 820 points or less based on preferential medium-interest loans do.
Credit Rating Scorecard
existing
Rating
KCB
NICE
One
942~1000
900~1000
2
891 to 941
870-899
3
832~890
840-869
4
768~831
805-839
5
698-767
750~804
6
630-697
665-749
7
530-629
600-664
8
454-529
515~599
9
335-453
445-514
10
0-334
0-444
Occasionally, if you check my score, you can see that the results are different for each app. Why is it different?!
Credit rating agencies provide it. In Korea, there are two places, KCB and NICE, and the scores of the two places are different because the method and weight of rating are different.
KCB views card usage behavior and credit transactions heavily, while NICE views delinquency and past repayment history.
From an individual point of view, it is also the reason why it is necessary to manage all these conditions!
It should also be noted that the inquiry score varies depending on which appraiser’s score is used for each bank or platform.
Toss and Kakao Bank use the KCB score, and Naver Pay uses the Nice evaluation information score.
Credit score inquiry
K bank
These days, it is convenient to check your credit score.
If you tap the three lines at the bottom of the K-Bank app, which I use frequently, and tap Manage My Credit in the menu, your score can be viewed immediately.
K-Bank shows the KCB score, and you can check the history of recent inquiry changes.
If you are in the top 24% with a score of 900 or more, and click “Raise your credit score”, you will be connected to the payment history inquiry service.
By the way, the lucky box event where you can receive up to 100,000 won when you open a K-bank account is still in progress, so please participate.
Kakao Bank
Kakao Bank also uses the KCB score, so the score came out the same. Easy to search.
Toss Bank
Toss Bank shows both KCB and NICE scores.
NICE score is searched one point lower.
In the past, there were cases where the credit rating was lowered by just checking the credit rating.
In addition to inquiry, recently it became possible to object to my score. You can ask the credit inquiry company customer center to confirm the basis for calculation and get an explanation.
8 Ways to Boost Your Credit Score
How do I manage to raise my credit score?
The basic principle is to repay the borrowed money well, and to manage it consistently without risking debt.
① Set the maximum credit card limit / Use a lump sum payment
Rather than reducing the limit and filling it up, it is helpful to set the limit to the maximum and then use about 30-50% of the limit.
It is advantageous to use a lump-sum payment rather than installment when using it. Using installments does not necessarily mean that your score will drop, but as the number of installments increases, the amount you have to pay off increases, so it is advantageous to use it as a lump sum payment. If you need to use installments for circumstances, it is best to keep the period as short as possible.
② Cancellation of credit card from the latest issued
When canceling, it is best to remove the most recently issued card if possible, and it is better to leave the card that has been used for a long time without canceling it because it has a history of repaying it well.
③ Consistently use the check card
If you use more than 300,000 won per month for more than 6 months, or if you use it consistently for 6 to 12 months, you can receive a minimum of 4 points and a maximum of 40 points.
④ Negative bankbook limit
If the credit limit of the negative bankbook is high for three months, it is judged that there is a possibility of delinquency and the score may be lowered. Set the limit on the negative bank account to the maximum and use only 3040% of the limit. If you spend more than that, pay it back within 3 months to keep the burnout rate at 30-40%.
If you need cash urgently, it is more effective to raise your credit score by taking it out of a negative account rather than cash advance.
⑤ A lot of credit card loans or cash advances at once
Credit card loans or cash advances are bad for your credit, but if you need to use them urgently, it’s better to get a lot at once than a little bit often. Because if you take it a little bit often, you may be suspicious of blocking.
⑥ Payment details such as national pension, health insurance, telecommunication fees, electricity bills, etc.
As discussed above, as non-financial items are added to the calculation criteria, additional points can be obtained by submitting payment history for national pension, health insurance, and telecommunication expenses.
How to manage these payments without delay.
⑦ ** Refrain from using Pay
Recently, each company has made a ** pay, and it has really diversified. Please note that credit card transactions are reduced because it is a simple payment method that is used by charging with cash, and if the amount of transactions maintained in the past decreases, it may affect your score.
⑧ Repayment of student loan
If you repay a loan from the Korea Scholarship Foundation without arrears for one year, you can receive a minimum of 5 to a maximum of 45 additional points. This is automatically reflected without the need to submit repayment records.
However, if you are currently in arrears or have received loans from three or more financial companies, please note that additional points are excluded or the range of additional points is limited.