Personal Finance
Why Is a Healthy Credit Score Important in Singapore and What Are the Benefits?
By ValueChampion  •  August 5, 2022
Credit score is often a rarely talked about topic in personal finance. Interestingly, the Monetary Authority of Singapore (MAS) has authorised only two credit bureaus to issue credit reports and credit scores. These are the Credit Bureau of Singapore, and DP Credit Bureau. From the table below, we can see the range of credit scores assigned to an individual:
Credit scoreRisk gradeProbability of default
1911 to 2000AA≤ 0.27%
1844 to 1910BB0.27% to 0.67%
1825 to 1843CC0.67% to 0.88%
1813 to 1824BB0.88% to 1.03%
1782 to 1812EE1.03% to 1.58%
1755 to 1781FF1.58% to 2.28%
1724 to 1754GG2.28% to 3.48%
1000 to 1723HH3.48%
If your score is nearer to 2000, you’re in the pink of financial health, with a low risk of default. If your credit score is closer to 1000, it means that you might be at higher risk of defaulting. But what benefits does a good credit score provide you?


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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?

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