What is a Credit Score?

A Credit Score is a financial analysis of how a specific person behaves in managing their financial products that requires credit such as loans and credit cards. It is used by financial institutions to deem whether or not you are able to be responsible with certain financial products.

Definition: https://www.investopedia.com/terms/c/credit_score.asp

Why Is It Important? A credit score is a clear snapshot at how a financial institution sees you based upon your behaviour. If it is bad then you won't be able to access loans needed to purchase a car or house but if it is good then the bank will be actively promoting their products to you.

I Don't Have A Credit Card, Does It Matter To Me? Although you might be just using a debit card, if you have any educational loans such as PTPTN then it can still contribute to your credit score. So please if you have any loans, be aware that the banks are monitoring your ability to repay those loans.

What Can I Do If I Have A Bad Credit Score? Firstly stopping ignoring the problem and commit to a clear plan that improves your financial behaviour and then start repaying your loans and your credit card bills. It is initially going to be painful but keep an eye on the long term goals of resurrecting your credit score so that you can access the necessary products to move your life forward.

How Can I Check My Credit Score?

You can visit a CTOS physical booth or register online to access an accurate picture of your credit score.

Visit here to regiser and get your credit score: https://ctosid.ctos.com.my/ctosid_new/NewSimpleRegister_Score?_ga=2.172686187.931770595.1583719765-1166018687.1583400143

Visit here to learn more about CTOS: https://ctoscredit.com.my/about-ctos/