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Home FAQ PCB’s Credit Report


What is a credit report?

A credit report contains detailed information on borrower’s credit history, including identifying information, credit accounts and loans, bankruptcies and late payments, and recent inquiries.
Data relating to borrower’s loan payment performance is collated on his credit file and may be used by Banks and

Finance companies as part of the assessment process for any new loans the borrower may apply for, or for a review of his existing loans.


Under what circumstances are credit bureau checks on borrowers conducted?

Normally, credit report inquiries are conducted in the following contexts:

•    Before granting a new credit: credit card, over draft …;
•    Before granting a credit limit increase;
•    After receiving information that casts doubts on a borrower’s credit-worthiness;
•    When borrower makes a late payment.


Why does borrower need a credit report?

A credit report keeps the bank and borrower updated on borrower’s credit standing and support borrower’s application for a credit. When the borrower applies for a loan and credit facilities, credit institutions like banks, financial companies will usually grant him credit only after knowing his credit-worthiness.

Examples of application for credit/ loans are:

•    Car loan
•    Housing loan
•    Study loan
•    Credit card
•    Business loan


Why a credit report is important?

A credit report is a record of borrower’s credit payment history compiled from different credit providers. As most lenders will check borrower’s credit file to assess his credit worthiness prior to making a decision, a good credit repayment history will make it easier for him to obtain credit and to qualify for loans.

A credit report also helps credit providers to make faster and more objective lending decisions with more preferential interest rate.


Are these PCB’s credit reports only applicable to Vietnamese?

PCB’s credit reports are applicable to any individual with a credit facility in Vietnam, and the credit provider which they have relations is a member of PCB system.


Are only default credit facilities reported to PCB?

PCB collects both positive information and negative information. All credit facilities irrespective of the amount, type and status should be reported to PCB and updated to PCB database.


How are PCB’s credit reports used?

PCB’s credit reports are used by credit institutions to ascertain borrower’s credit status and history with other PCB members. These reports may also be used when credit institutions review borrower’s credit status.

Banks and financial companies will usually look out for:

•    Repayment status of borrower’s credit facilities;
•    Any default/ bankruptcy arising from these credit facilities;
•    Number of existing credit facilities;
•    Overdue amount…


Does PCB include any opinion or recommendation in credit reports to grant or not to grant credit?

PCB does not give any opinion or indicate or comment whether credit should or should not be granted to a prospective borrower. It is solely decided by the lending institutions. Moreover, when lending institutions approach borrowers, they also design their own criteria to determine risky borrowers.


Whether my loan application is rejected by credit report?

So many borrowers assume that sharing credit information might decrease their borrowing opportunity. This is an unfortunate misunderstanding. Typically, credit institutions base on so many factors to make lending decisions and determine interest rate, including: credit payment history, credit-worthiness, collateral, and credit policies of these credit institutions.

With credit reports on borrowers from PCB, credit institutions will have a comprehensive view on financial status, credit-worthiness, and reason of borrower’s late payment (if any). This is a foundation for credit institutions to assess credit-worthiness of each borrower in order to make a lending decision as well as determine a suitable interest rate. The more information in credit report is enough and detailed, the easier the credit institutions could assess the risk level of the loans and might make a lending decision even if the borrower has a loan with late payment. The information is little and lack of transparency will make the risk level increase and make credit institutions hesitate to lend.

Thus, for borrowers, besides having borrowing plans and paying on time, providing information to PCB is the best way to increase their borrowing opportunity.


If a lending institution rejects borrower’s loan application, will all other lending institutions do the same?

Different lending institution may have different credit policies and evaluation criteria. Therefore, borrower’s loan application could be rejected by one institution and accepted by another lending institution. If one lending institution denied, the borrower should find his credit report before applying another loan application.


How does borrower improve his credit standing?

Borrower can improve his credit standing by observing these few simple pointers:

•    Repay outstanding/ overdue credit on time;

•    Keep the number of credit facilities manageable;

•    Clear bankruptcy/ litigation;

•    Check own credit report regularly (at least one time per year) to ensure that there is no error appeared on credit report. It is very important when the borrower intends to apply for a new credit.


How long does bad debt information remain on PCB credit report?

PCB credit report shows maximum 24 months since the nearest month receiving data contribution. This means that if the borrower has paid all overdue debt to credit institution, non-performing loan will continue to appear in the next 24 months from the date of full payment. However, current status has to be updated and reported regularly. In addition to payment history information, spending information of each contract loan, PCB credit report also provides more information on maximum level of default of entire contract history.


How does borrower know who has seen his information?

When one institution checks or makes inquiry on borrower information at PCB database, it will be stored in PCB system. These records represent any institution looking for borrower information, for what purpose and when.


Whether the borrower knows who has made inquiry on him?

Yes, when the borrower requests for his own credit report, this information is reflected on his credit report.


How borrowers can check their information which stored in PCB’s database?

If the borrowers want to check their information in PCB’s system, to ensure confidentiality and their right, they have to bring ID card (passport, military card…) for individual borrowers or business registration or ID card of Representative or authorization document for SMEs/ Sole Traders to PCB’s headquarter to request to obtain their credit reports at the address:

Suite 1303B, Vietcombank Tower, 198 Tran Quang Khai Street, Hoan Kiem District, Hanoi.

Borrowers are entitled to get credit report for free once a year


What should borrowers do when their information stored in PCB’s database is wrong?

Borrowers have right to request for considering and correcting their credit information if they find any error. In this case, borrowers could contact credit institutions or PCB to request for checking and editing their information. PCB and credit institutions will have responsibility to solve complaints of borrower. During this process, borrowers have obligation to provide fully and honestly their credit information to PCB and credit institutions, and they absolutely do not benefit by untruthful complaints which could harm to PCB and credit institutions.

end faq


Contact PCB
Vietnam Credit Information Joint Stock Company

Address: Room 1303B, Vietcombank Tower, 198 Tran Quang Khai Street, Hoan Kiem District, Hanoi.
Phone: (+84) 24 3936 9558
Services desk: ext 1
IT: ext 2
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Fax: (+84) 24 3939 3143

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