Most Singaporeans who use credit sparingly may easily believe that knowing the information that their credit report carries isn't necessary. But if they try to consider looking at the bigger picture, they'll discover that credit history doesn't only come into play when a person needs to apply for a loan
There are instances when insurance companies, landlords, and other businesses will need to take a look at the information that your credit report carries. Even some employers in Singapore (like in other parts of the world) look for their applicants' credit history and use the information they find as one basis in making their decisions. So if you want to get higher approval rating, it's important that you keep your credit record clean.
A credit report contains facts and details of the financial transactions a person has made. Companies that provide credit reports to businesses often use different formats. But this shouldn't be a big deal since most credit reports are easy to read and understand. What should concern you is the kind of impression you are giving with the information that your credit report carries.
Aside from your personal identification information which includes your date of birth, address, name, Social Security Number, and previous and current employers, other information that can be found in your credit record are the following:
public records: Examples of these are child-support orders, bankruptcies, judgments, and other official information.
collection activity: this pertains to accounts sent to collection agencies for handling.
information about each credit account: this pertains to the account type, the amount of money borrowed, who you owe, payment method, payment history, and credit limits.
list of companies that have requested your credit profile.
Whether you are considering to apply for a foreigner loan Singapore moneylenders offer or a payday loan, remember that the information businesses will see in your credit report is important. Your credit report tells about your credit behavior and gives insights to your character as well.
There are instances when insurance companies, landlords, and other businesses will need to take a look at the information that your credit report carries. Even some employers in Singapore (like in other parts of the world) look for their applicants' credit history and use the information they find as one basis in making their decisions. So if you want to get higher approval rating, it's important that you keep your credit record clean.
A credit report contains facts and details of the financial transactions a person has made. Companies that provide credit reports to businesses often use different formats. But this shouldn't be a big deal since most credit reports are easy to read and understand. What should concern you is the kind of impression you are giving with the information that your credit report carries.
Aside from your personal identification information which includes your date of birth, address, name, Social Security Number, and previous and current employers, other information that can be found in your credit record are the following:
public records: Examples of these are child-support orders, bankruptcies, judgments, and other official information.
collection activity: this pertains to accounts sent to collection agencies for handling.
information about each credit account: this pertains to the account type, the amount of money borrowed, who you owe, payment method, payment history, and credit limits.
list of companies that have requested your credit profile.
Whether you are considering to apply for a foreigner loan Singapore moneylenders offer or a payday loan, remember that the information businesses will see in your credit report is important. Your credit report tells about your credit behavior and gives insights to your character as well.