Friday, February 12, 2010

Singapore Credit Bureau

Wondering whether you have any bad record in your past that may hurt you in your application for a loan or credit card?  You can check your own credit worthiness from the Singapore Credit Bureau.  It is essential to maintain a clean track record if you are thinking of making loans from banks for your business or house-purchase. 

I had recently had my credit card application rejected by HSBC(as mentioned in this post), which made me wonder what has been recorded by the credit bureau, especially I don't remember anything bad. 

Out of curiosity, I went to the Singapore Credit Bureau website, and paid S$5.35 to purchase a record of myself.  You will need to have your SingPass and a credit card ready for the purchase, as you can only purchase your own record for individuals.

After the payment was made, immediately I could access my own record online.  At the same time, they also sent me a copy in pdf format. 

There are many different sections in the report.  The first section is your personal details.

The second section is your account status history, which lists all your credit card and credit facilities such as EasiCredit, Creditline, etc, etc.  It shows your payment history, whether you have any outstanding bills, etc.

The 3rd section shows your history of balance transfer and cash advance, the 4th section shows your payment status, the 5th section shows overdue balances. 

The credit bureau sends you a copy in pdf format with password protection.  However, the problem is, they didn't tell me what that password is!  How am I supposed to open the file then?  You can email them to ask for the password.  :)

Ok, having looked at my own report.  Everything is pretty clean, nothing shows that I am not credit-worthy, the only thing is that I don't have any history of balance transfer, nor cash advance.  They should be pretty disappointed that I am not going to give them any business for their legal loan shark operation.

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