Credit Rating Scorecard!
From January 1, 2021, the credit rating system disappeared and changed to a credit score system, and now you can only check your score by viewing your credit information.
However, many people are not familiar with the credit score system, so there are many people who do not know what grade my score corresponds to. Today, for those who want to check my credit rating, let’s learn how to check the score and credit rating for each section of the credit rating scorecard. 신용등급 점수
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order of writing
What is a Credit Rating Scorecard?
Credit score rating conversion
How to check my credit score
What is a Credit Rating Scorecard?
Credit Rating Score
The credit rating scorecard is a table that ranks credit ratings by grade based on credit scores. Credit scores are set from 1 point to 1000 points, and are evaluated based on various individual credit information.
The existing credit rating system was from grade 1 to grade 10, but now it has been converted into a score from 1 point to 1000 points and changed to an individual credit score.
The credit scoring system evaluates three indicators: credit score, top cumulative composition ratio, and long-term delinquency possibility, and financial institutions confirm the credit score required for a loan.
The credit score system is calculated by reflecting additional information that was not reflected in the existing credit rating system.
In the credit rating system, if you received a loan from a lending company, overdue information was not reflected, but it is reflected in the credit score system.
Credit score rating conversion
Currently, there are two credit rating agencies in Korea, KCB and NICE. The reason is that the credit rating standards of credit rating agencies are slightly different.
Evaluation Criteria KCB (All Credit) NICE (Nice Jikimi)
Repayment history 24% 37%
Debt level 28% 23%
Credit term 15% 12%
Type of credit transaction 33% 28%
In the case of KCB, the type of credit transaction is more important, and in the case of NICE, the repayment history is more important. So, rather than managing only one credit score, managing both is better for future financial transactions.
Credit Rating KCB (All Credit) NICE (Nice Keeper)
Level 1 942 ~ 1000 points 900 ~ 1000 points
2nd grade 891 ~ 941 points 870 ~ 899 points
3rd grade 832 ~ 890 points 840 ~ 869 points
4th grade 768 ~ 831 points 805 ~ 839 points
5th grade 698 ~ 767 points 750 ~ 804 points
6th grade 630 ~ 697 points 665 ~ 749 points
7th grade 530 ~ 629 points 600 ~ 664 points
8th grade 454 ~ 529 points 515 ~ 599 points
9th grade 335 ~ 453 points 445 ~ 514 points
10th grade 0 to 334 points 0 to 444 points
Credit Score Rating Conversion Table
If you actually look up your credit score, the scores from the two credit rating agencies are different.
How to check my credit score
In the case of credit scores, it may change from time to time according to changes in individual credit transactions.
It is recommended that you frequently view and manage your credit score because there is no additional cost or penalty for checking your credit score.
1. Nice Jikimi
Nice Jikimi is a credit information site operated by NICE, and you can inquire up to 3 times a year for free.
2. All Credits
All Credit is a credit information site operated by credit rating agency KCB, and you can inquire up to three times a year for free.
3. Financial application
Recently, several financial applications can check credit scores through partnerships with credit rating agencies.
Applications that can inquire KCB credit information: Toss, Kakao Bank, Kakao Pay, Payco, Finck, etc.
NICE credit information inquiry applications: Toss, PASS, Naver Pay, etc.
Among them, Toss can search both credit scores of two credit rating agencies, so you can manage them at once.