Historical Background

Having a central repository of credit information is a common feature in many developed countries, as well as in emerging markets.

The concept of a credit information bureau is not unique to the Philippines. In fact, the earliest known in some countries were cooperative credit bureaus that started as early as the 1860s. Until the arrival of credit bureaus, the amount of credit granted was based only on the merchants' personal knowledge of their customers.

In the Philippines, the creation of the Credit Information Corporation took nearly two decades since the first initiative to establish a credit information bureau.