How big is yours?
A few weeks ago, a reader posted some information about checking your credit in Japan, so of course I decided to check it out for RetireJapan.
There are three credit bureaus in Japan: CIC, JICC, and the snappily named 全国銀行個人信用情報センター. Today we’ll be looking at the JICC process and what the results can reveal about your financial standing.
The steps to check your credit score
Checking your credit score with JICC is a bit involved, but not overly difficult. Here’s a step-by-step guide to the process:
- Download the JICC app and use it to make your application and upload necessary documents.
- Pay the application fee of 1,000 yen using a credit card.
- Sign for the letter containing your results in person.
The entire process took me four days, from making the application on Sunday night to receiving the documents by registered mail on Wednesday.
What does a JICC credit score show?
So what was my score? I was a bit disappointed to find that they didn’t provide one. No number I can humble-brag about 😉 What the report does show is an extensive list of your financial activities:
- All the loans you currently have open and recently closed ones
- All contracts in your name
- All credit cards you currently use and recently closed ones
- Available and used credit
- Late payments or defaults (if any)
For me, it found my mortgage and current credit cards, my old Softbank installments (so buying a phone over two years seems to count as a loan), and several closed credit cards. I was pleased not to find any unfamiliar cards or loans.
Is it worth getting your credit report from JICC?
Probably not. It is useful to check for unusual activity. It might be worth doing before an important mortgage application, just to make sure everything is okay, but probably not essential. It might also be worth doing if you are getting turned down for credit cards and aren’t sure why. (You can also follow our tips for getting your first credit card in Japan.)
I also found a full-service law firm that will do all the paperwork to check your credit report with all three bureaus and then explain the results to you. They charge 10,000 yen though, just over three times what it would cost you to do yourself (and you probably don’t need to check all three so maybe even a bigger saving). Given how easy it was to check JICC, this probably isn’t necessary.
So what’s the final verdict? Well based on my experience, a credit score check could be useful for you in the following situations:
| Situation | Explanation |
|---|---|
| Suspected unusual account activity | The JICC credit report can be useful to check for any unusual or unexpected financial activity in your name. |
| Prior to a mortgage application | It might be worth checking before an important mortgage application to ensure your financial records are in order. |
| Frequent credit card rejections | If you are getting turned down for credit cards and aren’t sure why, this report can shed light on possible reasons. |
How about you? Have you ever checked your credit in Japan? Are the other two bureaus any different from JICC? Share your experience and ask for advice on the RetireJapan Forum.
As far as I know JICC actually uses the CIC record as well as enriching it with personal loan data.
CIC is the Japanese Government approved bureau and all banks/institutions are required to use CIC. I am not sure about the third provider you mentioned. So in CIC you won’t find anything different from your JICC record and I wouldn’t bother looking up the third.
Best,
I want to know about my credits records what I have to do please tell me
That information is in the blog post! Good luck 🙂
Great to know. That means I can save myself the hassle of getting the other two reports…
(Curses! Now I will have to think of content for two extra blog posts…)
I found a list online though of which credit card companies pull which report -they all pulled two of the three, but not the same two (ie all get used).
Even for someone who works within the FinTech industry, the process surrounding how Japanese financial institutions calculate a final credit score is still one huge black box. Like some sort of closely guarded commercial secret 😉
What I do know for certain is that for us expatriates intending to stay long term in Japan, the easiest way to build credit history here is to sign up for those (overpriced) 2 years smartphone contracts.
That all said, it might be good to check your credit history at least once a year. Especially since there have been precedents of companies providing inaccurate data to the credit unions, and thus severely damaging the credit history of many innocent individuals (looking at you Softbank).
I was a Softbank customer for about ten years (from before they were SB) but happily they don’t seem to have messed up my credit.
Having said that I applied for an Amazon CC a couple of weeks ago, and am still waiting to hear back…
It took me 2 months to get my Costco Orico CC. I applied at the beginning of December last year, got it a few days ago. And if I check the link orico sent me to see how my application is doing, it still says it’s being processed ….
Ha, ha, that’s what my link says! I was assuming it would take less than a week (like all the other cards I applied for) but nothing doing. Kind of strange as I already have a couple of cards issued by the same bank…
Softbank is a piece of shit company. they have many tricky deals for customers to steal money and get them to hidden payments. I had it for 7 years and I was so happy when I closed the contract.
its a Mafia company
I was an unhappy customer for over ten years! Finally got rid of them though: http://www.retirejapan.info/blog/mobile-phones-in-japan-2
Did you have luck getting a credit card with shinsei? I have never been able to. Wanted the new flash ones they have as well but was unable to get that either. I missed paying my credit card(amex) a couple of times so that may be the reason.
Does Shinsei have any credit cards worth having? Never noticed 🙂
Yeah. A metalic one that encourages you to spend more. Limousine service to a high cost restaurant etc
Oooh. Do you have a link?
Hello, Is there a possibility to get this document in english for previous foreign residents in Japan?. I need this document.
Thank you
I don’t think so. One option might be to get it in Japanese and have it translated, I guess.
Hello,
Is the information from the credit history directly related to loans or credit cards?
What about contracts paid in cash or by debit card? Are these the same thing or considered differently?
I am currently searching for an apartment in japan and have been turned down and I have never had a credit card or loan in japan and have been turned down due to failing a credit check, granted Im not sure if this is true or because I am a foreigner. Never the less, I have had some trouble with a share house in the past, it was a cash contract and they accused me for not making payments that had been made. Honestly, I should of taken legal action at the time but didnt…
Anyway, Im a bit worried that they might have effected my credit history and if they have what can I do about it?
Hi Megan
Sorry to hear you are having trouble. In my experience, landlords that don’t want to rent to foreigners are quite happy to say so, so you may have some problem with your credit report.
The easiest solution is probably to order a copy as described in the blog post. That way you can see what kind of information they have about you.
Wonderful Article! Thank you!!! I have recently applied for a home mortgage and the bank (Shinsei) said they could not proceed with my application because of negative credit reporting.
I was shocked.
I’ve had another mortgage which I’ve paid on for 13 years, and I can’t think of any other possible credit accounts which would be considered negative, with the exception of an AU mobile wifi device which had the bill going to the wrong address during a promortional campaign. I understood I was paying the charge as part of my cell phone bill, and instead they were billing me separately and eventually terminated that part of the service.
I will attempt to find out through these agencies where the negative report is coming from. Thank you again!
I advise you to call directly to AU customer servcie and find out your personal data. They will tell you that you have a credit history problem because you delayed AU payment. It happened to me as well but with SoftBank. They sent my last bill to my old adress and that’s why I wasn’t able to pay it, so they black listed me. It’s unfair, I told them, but nothing they can do it now. Your credit history will be clean only after 5 years.
Really informative!! I have issues to apply new credit cards in Japan and had been rejected several times from JCB so for me Amex is the easiest card I can get.
I was told that it could be possible that my delayed of card payment leave negative record on my personal credit history…. Does anyone know how long the negative record remain on credit report?
Thank you.
Not sure, but I have been late with several payments (over five years ago) and don’t have any problems.
I am also going through the no credit history, no credit card, no bank loan nightmare. Is there any alternative way to creating a credit history that does not involve a credit card? For example, would one be allowed to buy a laptop in instalments without a credit history?
By no means an expert, but the following may help:
-pay all your utility bills on time. Make sure your name is on them.
-get a smartphone on a contract with a payment plan.
-get a car or motorbike with a loan from the dealer.
Then apply for a credit card and pay it on time every month.