Credit report analysis

A ring need most local banks or financial institutions issued a joint information limited personal credit report as a reference, score by A (the best) to J (worst).The SME loan (SME Loan), banks generally require the borrowing company responsible person / guarantee / shareholders of personal credit score must be in A to F, customers can obtain bank. us your free credit report for analysis, make youKnow your debt situation, repayment records and credit scoring.

TransUnion Information Co. Ltd.

Q&A

• Repayment records: in the account timely repayment records are regarded as valuable assets, help to enhance the credit score.
• Outstanding debt: higher credit rate will reduce the credit score. Please keep the reasonable credit balance in the range of available credit.
• Past credit account records: have a good credit record past, shows you are a dependable borrower.
• The recent record of inquiry: if credit agencies have access to your credit record, that you may add new. This will be slightly lower your credit score, so apply for new credit should not overdo sth..
• The public record : public records (including bankruptcy and legal action) may score negatively on credit. All public records are retained for seven years in your credit report, the bankruptcy record for eight years.

Hongkong adopted the credit scoring is based on: the credit account information, overdue repayment account information, credit record, query past repayment data and public records.
Please note that, if the TransUnion members review the account information or your access to their credit, will not affect your score.

Ask:How to use the credit score?
Answer:Credit providers in making credit decisions, credit scoring is only part of the reference. In addition to the credit score and credit providers, or will consider the risk in borrowing acceptance, internal credit scoring, the general data and financial information, and the relationship between the applicant, collateral, and whether factors such as the guarantor.

Possible credit institutions or choose not to use a credit score. TransUnion provides the evaluation purpose, in order to provide reference for making credit decisions to credit institutions, and does not participate in the decision making process. Have the same score same applicant may provide institutions approved credit in a credit, but was refused another credit providers. It depends on the credit institution's internal policy and other data available.
Hongkong adopted the credit scoring is based on: the credit account information, overdue repayment account information, credit record, query past repayment data and public records.
Please note that, if the TransUnion members review the account information or your access to their credit, will not affect your score.

Ask:My credit score will change?
Answer:Credit scoring is a mobile digital, which will change with the credit report content and change. Credit report content consumers, will the new information provided with credit mechanism to update. Credit scoring is required to obtain the latest information of the credit rating report contains the calculation, therefore the past and present the score may be different.

Ask: how can I improve the credit score?
Answer:Through increasing credit score, you can increase the possibility of approved loans, and can get more preferential interest rate. It is not difficult to improve the credit score. The following are the five basic steps:

1. Pay the bill on time. The monthly pay all your bills. Overdue repayment, was to recover arrears and bankruptcy will cause great negative impact on your credit score.
2. Regular audit credit report. Don't let the inaccurate information affect your credit steady state. If you find any inaccurate information in a credit report, should immediately contact the relevant credit providers to repair is. TransUnion also will contact the credit institutions, assist you revise inaccurate information.
3. Proper management of your debt. Keep your credit card balances low on available credit. Financial management properly, the steady finance plays the role of Guan Jian.
4. Establish a robust credit record. To improve the credit score, time is one of the most important factors. Through the pay bills on time and make the best use of credit, to establish a good record.
5. Avoid applying too much credit. If a credit provider application in a short time due loans query your record, it may reflect the following two kinds of circumstances, show your credit has the high risk. Are you because of financial difficulties and to open a bank account? Your debt is beyond the scope of can easy to pay? Therefore, to apply for new credit should not overdo sth.. Please note, many times of individual queries (i.e., requirements for his credit report) will not affect your credit score. 

Ask: how to maintain a good credit score?
Answer:Before opening any credit account, you should first understand how to operate the credit system, and help you to maintain a good factor of credit scores. The following methods can help you establish a good credit record and credit scoring.

Understand your position. Prior to the determination of establish credit required elements, to assess your current financial situation. Check whether there is any sign of credit report identity theft. In addition, when your credit report any important information, credit will inform you that that is. If you find any suspicious, immediately orderedCredit reportFor enquiries, and provides a mechanism to report suspicious data or error to the relevant credit.

Study of your choice. Careful inspection of each credit invited, about interest rates, fees and potential. Please note, if your financial situation is not stable, unable to properly handle the credit, then the account before, it is best to improve the financial situation.

Open an account. When you choose the credit category, submit an application to the credit agencies. If the approval, assuming the credit provider to TransUnion provides information, new accounts will be reported in a short period of time.
To fulfill the responsibility. Monthly appropriate use of new credit, will help you get a good credit score. The best for example, through the credit card to obtain good credit scoring method, is careful to use credit cards, the monthly repayment. In six to twelve months will be able to improve your credit score.
Review of progress. If you keep a stable financial situation, your credit score will gradually increase , make you have enough to qualify for extra credit. When you decide to open new credit accounts, please check carefully the terms, determine whether or not suitable for you.
Regular access to credit reports and credit rating, credit conditions to the inspector is a good habit can visit the following linkHttp://www.transunion.hk/