Query two credit rating scorecards (NICE, KCB)
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Today, let’s dig into how to find out my credit score with a credit rating scorecard. More people than you think are curious about this information.
Let’s find out the credit rating score below.
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What is a credit rating score system?
Credit Rating Scorecard
Tips to improve your credit score
What is a credit rating score system?
Credit Rating Scorecard
Since 2021, the credit rating has been abolished and there is a score system.
The credit rating was abolished and the credit score system was implemented. With the implementation of the credit scoring system, credit ratings are no longer available, and each financial institution can evaluate credit quality only with a credit score.
This was due to the so-called ‘loan threshold effect’, which was a problem with existing credit ratings, because credit ratings changed with a small score difference and disadvantages could be seen. For example, Cheol-su passed the screening with a credit score of 700 and grade 4, but Young-hee was rejected with a credit score of 695.
To improve this inconvenience, the credit score system was converted. To help consumers enjoy a healthy financial life, each credit rating agency will also upgrade their credit score evaluation system to match the new system. As a result, my credit score may have changed after 2021.
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Credit Rating Scorecard
Credit rating agencies include My Credit (NICE) and All Credit (KCB). KCB weighs card usage and credit transactions, while NICK weighs overdue and past repayment history.
NICE (My Credit) KCB (All Credit)
Grade 1 900~1000 points 942~1000 points
2nd grade 870-899 points 891-941 points
Grade 3 840-869 points 832-890 points
Grade 4 805-839 points 768-831 points
5th grade 705-804 points 698-767 points
6th grade 655-749 points 630-697 points
7th grade 600-654 points 530-629 points
Grade 8 515-599 points 454-529 points
9th grade 445~514 points 335~453 points
10th grade 0-444 points 0-334 points
View your credit rating score
Credit Rating Score
Credit rating score inquiry
credit rating
Tips to improve your credit score
Credit rating inquiry
Just because your credit rating has been lowered doesn’t mean it’s impossible to recover. If you manage it carefully, you can raise your credit rating again.
However, it takes 3 to 4 months on average to raise a credit rating once it has been lowered, and in the case of delinquency, which is the main cause of a credit rating drop, it depends on the amount, but up to 5 years of record can be reflected in the credit rating, so pay special attention. have to write
Today, I took the time to find out the credit rating scorecard. Just because you use a debit card doesn’t mean your credit score goes up. Please note that if you consistently prove your ability, your credit score will automatically go up. thank you