Credit Report


What is a credit report and who issues the report?

A credit report contains records of an individual's credit payment history. It is issued by a credit bureau to its members when they make enquiries about an individual. Individuals may also request for their own report from the bureau. The credit report includes information such as:

  • Basic personal profile data (excluding contact addresses and telephone numbers)
  • Records of all credit checks made on the consumer
  • Credit repayment trend for the past 12 months
  • Default records, if any, will be displayed from the date it was uploaded at the credit bureau.
  • Bankruptcy records, if any, will be displayed for 5 years from the date of discharge
  • Closed or terminated credit accounts will be displayed for 3 years from the date the account was reported closed or terminated
  • Aggregated outstanding balances
  • Aggregated credit limits 

Who provides the information in the credit report?

Only credit bureaus gazetted by MAS are allowed to collect credit information on individuals from financial institutions. The two gazetted bureaus are Credit Bureau (Singapore) Pte Ltd and DP Credit Bureau Pte Ltd. The information in the credit report is provided by members of the credit bureau such as banks, finance companies and credit card companies. Information is also obtained from publicly available sources such as bankruptcy data.

What is the role of a credit bureau?

As credit bureau is a repository of credit information. The information assists its members in their credit risk assessment of borrowers and to make better lending decisions. Credit decisions are made by these banks, finance companies and credit card companies based on their own credit evaluation criteria. The credit bureau does not grant or deny credit.

Who can see your credit information?

Only members of a credit bureau are permitted to access the information from the bureau for the sole purpose of credit assessment. The access to such information is governed by a Code of Conduct, which lays down strict privacy principles that all members must abide by. Individuals may also request for their own report from credit bureaus.

How important is the credit report to you?

Your credit report gives a snapshot of your credit repayment capability. The credit report will enable banks, finance companies and credit card companies to make better lending decisions when you apply for credit such as home or mortgage loans, personal loans, car loans and credit cards.

It is therefore important that you maintain a good repayment record. Non-repayment(s) or overdue repayment(s) will be reflected in your credit report and could negatively affect you when you apply for a new loan.

You may approach the credit bureaus for a copy of your credit report, so you are aware of the information contained in your report.

How do you obtain a copy of your credit report?

Please contact:

Credit Bureau (Singapore) Pte Ltd
2 Shenton Way
#20-02 SGX Centre 1
Singapore 068804
Email: consumer_services@creditbureau.com.sg
Fax: (65) 6538 4326
Telephone: (65) 6565 6363

DP Credit Bureau Pte Ltd
10 Kallang Avenue
#14-18 Aperia Tower 2
Singapore 339510
Tel: (65) 6320 1900
Fax: (65) 6298 2310
Email: cs@dpcreditbureau.com.sg  
Website: http://www.dpcreditbureau.com.sg  

What if you disagree with the information in your credit report?

If you spot an error or disagree with some information in your credit report, you should write to the credit bureau with your clarifications. The credit bureau will:

  • Consult with the member of the credit bureau that provided the data;
  • Post a notice in your credit file with the credit bureau that the credit data is being disputed and is under investigation; and
  • Inform you of the progress and outcome of their investigation.
  • If any amendment is made to your credit report, the revised report will be sent to all credit bureau members who have made enquiries on you in the past three months.

For more information on Credit Bureau (Singapore) Pte Ltd, visit their website or contact them at:

Credit Bureau (Singapore) Pte Ltd
72 Anson Road #11-03 Anson House, Singapore 079911
Tel: (65) 6565 6363
Fax: (65) 6538 4326
Email: consumer_services@creditbureau.com.sg

For more information on DP Credit Bureau Pte Ltd, visit their website or contact them at: 

DP Credit Bureau Pte Ltd
10 Kallang Avenue
#14-18 Aperia Tower 2
Singapore 339510
Tel: (65) 6320 1900
Fax: (65) 6298 2310
Email: cs@dpcreditbureau.com.sg  
Website: http://www.dpcreditbureau.com.sg  
  

Tips on how to maintain a good credit report:

  • Always keep track of the payment due dates for your credit facilities and remember to pay by then.
  • Avoid multiple sources of credit. It is easier to keep track of your repayments when you have fewer credit facilities.
  • As far as possible, pay all your monthly outstanding credit in full.
  • Inform your financial institution if you are unable to meet the payment deadlines, and explain why.

The above information is prepared in collaboration with the Credit Bureau Singapore and DP Credit Bureau.