Creditworthiness Mini Quiz

How well do you know Creditworthiness?

1 What is the range of credit rating you can get in Hong Kong?
What is the range of credit rating you can get in Hong Kong?
Wrong!
Credit rating ranges from A to J, with A being the highest score.
2 Which of the following are key score factors?
(you can select more than one)
Which of the following are key score factors?
										<br/>
										<span>(you can select more than one)</span>
Wrong!
Apart from "Salary", all the other options are contributing factors of your credit score, click here to learn more about how your credit score is calculated.
3 How many years has TransUnion been serving in Hong Kong?
How many years has TransUnion been serving in Hong Kong?
Wrong!
Established in Hong Kong for more than 40 years, TransUnion provides reliable, data-driven credit rating services based on your credit history.
4 What is the recommended credit utilisation rate?
What is the recommended credit utilisation rate?
Wrong!
You are recommended to maintain your credit usage at around 30 – 50% of your credit limit per credit product and total credit limit. Moderation is key! Click here for more details.
5 When may you need a credit report?
(you can select more than one)
When may you need a credit report?
											<br/>
											<span>(you can select more than one)</span>
Wrong!
You may need to show your credit report on many occasions. That's why a good credit score helps to map your success.
6 "A good credit score may help you to get a better Annual Percentage Rate (APR)", is it TRUE or FALSE?
Wrong!
Yes, a better credit score may get you a better APR when you apply for a loan, in turn lowering your cost of borrowing.
7 What are the ways to improve your credit score?
(you can select more than one)
What are the ways to improve your credit score?
												<br/>
												<span>(you can select more than one)</span>
Wrong!
"Use cash only" does not demonstrate how you practice a good credit habits but the others do. To learn more tips, click here to read more details.
8 Which of the following is NOT how TransUnion collects your information?
Which of the following is NOT how TransUnion collects your information?
Wrong!
At TransUnion, we value personal data privacy. We only collect personal information with your consent. Going around your back to ask your employer about your personal information is absolutely NOT something we would do.

Click here to learn more about how we collect personal credit data.
9 "My friend and I both have never paid a credit card bill back late, our credit rating MUST be the same", is this TRUE or FALSE?
Wrong!
Credit score is calculated based on various personal financial habits, payment history is only a part of the calculation. Even if both of you don’t have a late payment record, your credit score vary since the calculation is complex and multi-layered, done by intricate formulas and algorithms.
10 How long do you think your late payment record would stay in your credit report after you have paid it off?
How long do you think your late payment record would stay in your credit report after you have paid it off?
Wrong!
Negative record will stay for at least 5 years on your credit report even if you had paid it off. That's why you should be careful and avoid late payment at all costs!

Transunion’s credit scoring takes into account a comprehensive set of credit and public record data to ensure that consumers are reliably and fairly represented with statistic support, while helping financial institutions manage risk appropriately. Financial institutions’ risk appetites may vary, and credit scores are among many factors that lenders take into account when it comes to extending credit. Transunion’s proprietary scoring algorithms, containing dozens of data attributes, is an analysis built upon decades of market experience, industry insights and expertise in Hong Kong and around the globe. The credit-related behaviours it analyses can trigger multiple attributes that affect a person’s credit score, subject to different situations. While building credit health is always attainable, it generally takes time and consistent healthy credit habits to see an improvement.