Israelis Can Access Annual Credit Data Report For Free

Bank of Israel operates a central database, established in 2019, that compiles the financial obligations of every individual borrower in the country. This information, detailing contracts, balances, and payment dates, is accessible to loan applicants during mortgage discussions. Crucially, every customer is entitled to one free "Data Summary Report" annually, as stipulated by the Credit Data Law. This report can be obtained via the Credit Data System website using national identification or by calling *6194, with options to view data spanning three, five, or ten years.

The report, defaulting to Hebrew but available in Arabic, includes details on financial commitments, repayment terms, collection proceedings, defaults, information not shared with credit bureaus, and a list of all entities that have accessed the customer's data. The latter often surprises users, as it logs every financial inquiry made about them, including the date and the inquiring entity.

While the Bank of Israel manages the central database, credit scoring is handled by licensed credit bureaus. Each bureau employs its own statistical model, typically using three years of data, resulting in potentially different credit scores for the same individual across different bureaus. The number displayed on an app reflects that specific company's model, not a national score.

Information reported includes overdue payments exceeding NIS 200 for 30 days or more (or NIS 500 for 60 days for retail credit), returned checks, account restrictions, and insolvency proceedings. Guarantees are treated as credit transactions, with guarantors appearing on the report alongside the primary debtor. Data sources include banks, credit card issuers, non-bank lenders, the postal bank, and enforcement and insolvency authorities. Court data was excluded in 2023 due to minimal contribution to assessing payment behavior.

The law, enacted in 2016 to foster competition and credit accessibility, aims to centralize credit data, which was previously concentrated within a few major banking groups. Certain financial details, such as salaries, unencumbered assets, pension savings, and utility bills not yet in collection, are excluded from the database. Minor delays or small outstanding debts below reporting thresholds also remain unreported. The report also details closed accounts, forgotten credit lines, or outstanding guarantees, which can negatively impact a borrower's debt-to-income ratio calculation by banks.