Creditworthiness & Credit Score Why Credit Score is important? How to improve Credit Score? Stay on top of your Credit Health Creditworthiness Mini Quiz

Why is credit score important to me?

When do I need a credit score?

“Credit score? It’s none of my business because I don’t need any loan.” This is a common misconception held by many people, but it is totally wrong! In fact, credit score is closely related to our daily life!

1 Credit Products Application Applying for credit card Applying for personal loan Getting a mortgage
2 Relocation/ Overseas Investment Applying for immigration Investing overseas, such as buying properties and cars
3 Career Development Employment background check

What are the benefits of having a good credit score?

On many everyday occasions, getting assessed by TransUnion and having a good credit score gives us a helping hand and makes our lives easier.

Occasions	Benefits	Daily examples
Credit products application	Get loan from banks / creditors more easily Get a better Annual Percentage Rate (APR) & lower the cost of borrowing	Applying for a credit card to collect mileage or to get cashback rewards Attaining personal loan for investment for setting up your own business with a lower APR which helps to reduce the cost of investment Getting the mortgage you need for your dream house
Relocation / Overseas investment	Show your creditworthiness in foreign country / overseas	Applying for immigration to start anew Investing overseas, such as buying properties and cars
Career development	Pass employment background check, especially for the finance, banking, security and hotel industries	Passing employee background check to get your desired job with great prospect in a multinational company, especially in banking and finance sector

Check My Credit Score

Real Life Stories

HR asks to check my credit rating!?

Sandy recently took a job interview at a 4A advertising firm.

“Once you pass the final round of interviews, we’ll need your consent to let us review your report from TransUnion,” said the HR lady.

It was only after the interview when Sandy wondered: she’s simply applying for a designer job at an advertising firm, not a financial institution. Why would they ever need to check her credit report? Isn’t that crossing the line of personal privacy?

How low can you sink?

Sandy, who works at a beauty parlour, is one of the many who’ve been severely impacted by the pandemic. Seeing no light at the end of the tunnel, she decided to take out a bank loan.

With a bad record of maxing out her credit cards and not being able to pay them off, Sandy knew her credit history wasn’t stellar. But she’s turned over a new leaf, so the bank might approve her loan now, right?

Not. A. Chance. She got rejected.

If you were Sandy, what would you do to learn from this failure and improve on your credit score?

Should I be my husband's guarantor?

In this story, a married couple was planning to buy an apartment to build their dream life together.

However, the husband was in debt and he had late repayment records previously. He’s well aware that with his bad credit score, there's only a grim chance for him to take out a mortgage without a guarantor.

He then asked his wife to be the guarantor so that they could apply for a mortgage successfully. Although she trusted her husband with all her heart, she's concerned about the potential effects on her credit score if she agreed to be a guarantor...