Your Grade, Your Fate
Your Grade,
Your Fate
High Credit Score
- Life Has More
In Store
A good credit score can open more doors for you, helping you easily achieve your dreams.
People with an unfavourable credit score may encounter numerous hurdles at various stages of their lives:
Planning to buy a home?
You work hard every day to have a place of your own, but did you know that your credit score could affect your dream of homeownership? When you apply for a mortgage, your credit score is one of the factors taken into account during the approval process. A high or low credit score may influence your chances of a successful application and the interest rate you'll be offered.
So, if you're thinking about buying a property, it's a good idea to start monitoring and improving your credit score 6 to 12 months in advance to prepare for your mortgage application. Start improving your credit score today to pave the way for your future.
Planning to start your own business?
On the path to entrepreneurship, funding is an important first step. Government grants and private investments can be sources of capital, but applying for a bank loan is another option. To increase your chances of approval and keep interest rates and startup costs as low as possible, your credit score is one of the key factors. If you're serious about starting a business, remember to maintain good credit habits for at least six months so your credit score can gradually improve. It's also important to regularly monitor your credit report to understand your financial standing and be well-prepared for your entrepreneurial journey.
Planning to emigrate and start a new chapter in your life?
Your credit score in Hong Kong could potentially affect your plans abroad. In some countries that place great importance on personal credit scores, such as the UK, Australia, Canada, and the US, a good credit score might be a key factor for everything from buying or renting a home to getting a car loan, applying for a credit card, or even handling day-to-day arrangements. If you want your life as an immigrant to go more smoothly, start by preparing your credit score.
Planning to apply for a credit card?
When banks review credit card applications, your credit score could be one of the key factors. Your credit score reflects your repayment ability and creditworthiness. If your score is in the "red," your credit card application might be declined. Don't want your application to be denied because of your score? Then you need to start by improving your credit rating.
Planning to boost your job application?
You might think your credit score has nothing to do with finding a job, but some companies — especially in banking, insurance, and law enforcement — may request to review your credit score as part of their assessment. Maintaining a good credit score could help reduce a negative factor that might affect your chances of a successful interview.
Stay on top of your Credit Health
Just as your physical health depends on your lifestyle choices, your credit rating is a reflection of your credit habits. To keep your credit score in good shape, it is important to check your credit report on a regular basis. However, improving your credit rating is not something that happens overnight, and requires commitment and perseverance.
In addition to breaking bad credit habits, regularly checking your credit report is essential if you are looking to improve your credit rating.
According to data from TransUnion 1 collected over a 12-month period, less than 15% of people who did not check their credit report saw an improvement in their credit rating, versus 30% of people who continuously monitored their credit report over a 12-month period.
Among people with Near Prime rating (Grade D, E and F), 43% saw an improvement in their credit score.
To stay on top of your credit report and identify steps for improving your credit rating, TransUnion recommends monitoring your credit report for at least 6-12 months.
Improving your credit score requires patience and perseverance – just like your physical health, regular check-ups are required to monitor changes in your score. TransUnion’s credit report calculates your credit score based on your previous credit habits, and determines your creditworthiness using big data analytics.
| Suggestions | |
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Good credit rating
(Grade A, B or C) 
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Unfavourable credit rating
(Grade D or below) 
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We recommend that you monitor your credit score for a period of 6-12 months in order to keep track of your credit health and identify areas for improvement. Specifically, you may:
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1
Check your credit report at the same time each month
To find out how your spending and credit habits affect your credit score, suggest to check your credit report at the same time each month and compare it with your report from the previous month. If your score is unfavourable or there is a downward trend, check for recent changes in credit activity and identify areas for improvement.
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2
Avoid maxing out your credit card
If you are planning to make a big purchase with your credit card, such as paying for tuition fees or purchasing an annual membership, it is a good idea to ask your bank to increase your credit limit.
To keep your credit score in good shape, try not to exceed 30-50% of your credit limit per credit product and your total credit limit. -
3
Use TransUnion’s credit monitoring tools
TransUnion also offers a range of useful tools to help you keep track of your credit health:
- Log in your TransUnion account and go to “Score Trending” to monitor monthly changes in your credit score.
- Use the Debt Analysis function to ascertain your borrowing and repayment ability and plan your finances.
- Before applying for or cancelling a credit product, use the Credit Score Calculator to find out how your decision will affect your credit score.
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4
Check and verify your credit history and public records on a regular basis
- Credit history: The information which you apply for a credit facility, you authorise financial institutions to send to TransUnion.
- Public records: Information related to debt recovery litigation or bankruptcy proceedings, which may concern you. Public records are usually held by the courts, and may have an impact on your credit rating.
Both your credit history and public records may contain errors. To prevent a negative impact on your credit score, remember to check on a regular basis and request any errors to be corrected.
How to request the correction of credit report?
As a TransUnion credit report user, you can request the correction of errors in your credit report or public records for free,
click here for more details.
Act Now to Improve your Credit Health!
Improving your credit score takes time and requires perseverance. The earlier you start, the better, so subscribe TransUnion’s Credit Monitoring Service now and plan your path to a better financial future!
Learn more now to seize this opportunity and enjoy a limited-time double discount offer to protect your credit health.
1Remarks: From 1 August 2024 to 31 July 2025.
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.
