This is a guest contribution by Credit Bureau Singapore, as part of a partnership between CBS and AMTD PolicyPal Group , in line with our mission to empower people with financial knowledge and help them attain financial wellness.
Through this report, lenders can assess how well an individual can repay their debts based on a variety of factors including your credit score, total credit limit granted, number of credit facilities, total outstanding balances. Your credit score is also presented in a credit report that summarises your credit payment history and other data in your credit report.
Your credit report reflects your ability to fulfil your debt obligations. Credit providers thus use this information to decide whether to approve a loan or extend a new credit facility to you.
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