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Clement

26 Dec 2019

SeedlyAMA

What affects the credit score and how does credit score affects me?

How do banks determine your credit score? What's the criteria to raise your credit rating? Do you necessarily need a good credit rating?

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Pang Zhe Liang

26 Dec 2019

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

Credit score affects your credibility in obtaining a loan.

Factors that affect the score include:

  • Immature credit history

  • Credit exposure

  • Delinquency Presence

  • Not enough clean history

  • Adverse credit history

  • Too many enquiries

All in all, you should cultivate a good habit to keep your credit score as clean as possible.

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