Dominican Republic — Banking: Credit History

Key facts

• Data holders may request their credit report at least four times a year free of charge, at three-month intervals, and may receive more when they show a legitimate interest.
• The credit information company (SIC) must deliver the report within 5 business days, on paper, in person, or digitally by email or a secure downloadable platform.
• Term and instalment credits of 48 months or less appear in reports for no more than 48 months from opening; overdue longer-term credits no more than 48 months from the last payment, and never beyond the original end date.
• Recurring credits such as credit cards and credit lines in default or overdue appear no more than 48 months from the last payment.
• Holders have a legal right to access, update, rectify and delete data; when a record is modified, the SIC gives a new report free within 5 business days.
• Lenders must answer a holder's claim in writing within 10 business days.

Steps

1. Obtaining a Credit Report — The exact process for obtaining a credit report in the Dominican Republic is uncertain, but it may involve contacting local credit bureaus directly.
2. Checking Credit Score — It is unclear how to access credit scores in the Dominican Republic, and whether they are calculated or reported by local credit bureaus or other entities.