Personal Finance
Why Is A Credit Report Important And How Can It Impact You?
By ValueChampion  •  September 18, 2023
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This is a guest contribution by Credit Bureau Singapore, as part of a partnership between CBS and AMTD PolicyPal Group (PolicyPal and ValueChampion), in line with our mission to empower people with financial knowledge and help them attain financial wellness. Not many people can afford to pay for big-ticket expenses in cash; most people apply for loans. However, your ability to get a loan can be affected by your credit report, which is derived from your credit history based on data from a range of factors, such as your payment performance on existing loans, outstanding balances and number of loan applications, etc.

Related: Why Is a Healthy Credit Score Important in Singapore and What Are the Benefits?

what is a credit report
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What Is A Credit Report?

A credit report is basically a record of all your personal credit facilities and total credit...
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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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