Q1：Why is it necessary for you to know your own credit status?
A：Many of us would have credit dealings with other people besides banks. If every party to a private-party transaction can show their personal credit report, it will enhance the reliability of the credit dealing and better ensure the interests of the parties involved. Joining a private money co-op is the most common scenario. Some people need to check their credit record for reasons of suspecting that their name has been used to open a bank account, worrying that they might have bad record in their personal credit file, or because they have been turned down in a loan or credit card application. After obtaining a copy of his personal credit report, a person should make careful evaluation before deciding whether to give it to others.
Q2：Can I inquire personal or business credit information by phone?
A：If you make an inquiry about personal credit information by phone, we will not be able to ensure that you are the principal. In compliance with the Computer Processed Personal Data Protection Act that stresses data security and protection of principals, currently we only accept inquiry applications in person and in writing. You have the options to visit our counter in person, mail in your application, or fill out an authorization form, asking somebody else to turn in your application at our counter.
Q3：Can I inquire the credit record of other people?
A：According to the prevailing regulations, only the person himself or herself (the principal) can make an inquiry about his or her credit data. Member institutions of JCIC also need to have a written consent of the principal, or a contractual or like-kind relationship with the principal when inquiring the credit record of a customer. In addition, member institutions are allowed to use the credit records they obtain from JCIC for internal purposes only; they may not make such records public or transfer them to others. Restricted by law, JCIC cannot provide the credit record inquiry service to non-financial institutions.
Q4：Can I make a request to alter my own credit record?
A：JCIC compiles or processes personal data in compliance with the Computer Processed Personal Data Protection Act to assist financial institutions in credit risk assessment and credit management. Neither JCIC nor you have the right to alter data reported by financial institutions. If you discover any error in your personal credit record by a bank or contradicts a final court judgment, you can present support documents to the reporting financial institution and ask for correction. JCIC will then modify your record according to the information submitted by the financial institution. Credit information, regardless whether it is positive or negative, will not be provided to financial institutions once its disclosure period expires.
Q5：Why is that when we deal with a bank, we are asked to sign a computer-processed data access consent form or there is a principal consent clause in the contract?
A：When banks consider granting a customer a home mortgage, revolving fund, or credit card, it is necessary for them to check the credit record of the customer and use it as a reference in decision making. The banks will ask the customer to provide some information and might check with JCIC for other information. To make sure your privacy is well protected, banks must follow the legal guidelines and procedure when inquiring or reporting the credit information of customers, and obtaining a written consent of the customer is least dispute-prone. The procedure of acquiring a written consent of customer is more discreet and clear, and you can take the opportunity to learn about your personal credit status. You can request correction if you find any error in your credit report, and make sure your credit data or your identity have not been used without your knowledge.
Q6：If I don’t sign the consent form, will it affect my credit standing with the bank?
A：The current practice in Taiwan is that the credit worthiness of a person with a blank credit record is rated at medium level. Having a substantial, accurate and complete personal credit file is absolutely a positive factor when a bank considers your credit line, interest rate, term of credit, or whether to issue you a credit card. Your credit record is without a doubt a critical intangible asset of yours. Imagine how will a bank consider your credit worthy if it does not know much about your credit record. On the other hand, banks will be hesitant to deal with people who deliberately conceal their credit records. Thus from the perspective of protecting your own personal interests, it is necessary to sign a consent form giving the bank the right to access your credit record when you wish to obtain a credit service from the bank.
Q7：Will my personal credit information be arbitrarily revealed?
A：According to law, the credit information collected by JCIC may not be made public arbitrarily. Pursuant to the Computer Processed Personal Data Protection Act, financial institutions that make credit inquiries must have a specific purpose and a consent form of the principal, or a contractual or like-kind relationship with the principal. JCIC sets fort the same criteria for credit inquiries by members in the membership rules. To put into effect the information security control system, JCIC’s membership rules also require members to draw up guidelines for its credit information inquiry operation to make sure the information members obtain from JCIC is not inadvertently disclosed or improperly used.
Q8：Are credit records provided by JCIC being used by banks as principal reference in their decisions to issue credit cards or approve loans?
A：JCIC is only a credit information provider, not a credit policy decision maker. Information provided by JCIC is for the reference of member institutions in their lending decision making or for other specific purposes as provided for by law. It is not the only basis for approving or rejecting a financial dealing. In the loan approval process, a financial institution also needs to gather and review other credit data of the applicant, and makes its decision based on its internal policy.
Q9：If JCIC has stopped to provide bad credit information after the expiry of its disclosure period, why does such bad record still show up when a person applies for service with the bank?
A：On account of business strategy and risk management needs, banks usually set up their own database for credit business. Thus it is possible that a person is free of any bad record according to the credit report provided by JCIC (when such bad record is past its disclosure period), but is told by the bank that he or she has bad credit record on file.
Q10：How do I make correction if I find out that I and another person have the same ID No.
A：If your ID No. is identical to that of another person, it is very likely that credit data will be misplaced. If it happens, not only banks get the wrong credit information, more seriously, your interests will be adversely affected. Thus if you discover that you and another person have the same ID No., you are strongly advised to contact JCIC. We have a standard application form for you to fill out. After we receive your application and support documents evidencing the duplicate ID No., we will check the attribute of each and every credit data under the same ID No. and send the correction to relevant financial institutions.
※ Foreigners who have been issued a uniform ID No. should attach a copy of the residence permit and passport; foreigners