Money Talks Podcast: How your credit score makes a difference when applying for loans

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In: South-East Asia

Here’s an extract from the radio: &nbsp,

Wong Sok Quan: &nbsp,
So I’m taking a credit record with me. The first page is just your personal data ( and ) details. We’ll concentrate more on this account rank history. So for the first row, we’ll show the type of credit facilities ( that ) you have, such as bank loans, credit cards and unsecured credit. Therefore, any mortgages will also surface in this area. &nbsp,

Andrea Heng: &nbsp,
I’ve also seen HDB loans it. But certainly, each quarter that you pay your debts, your credit tickets- that number is going to transform every month, right? What else does this record report include, then? &nbsp,

Sok Quan:
Yeah, you will see that there is this part under past investigation. You will see that fine, the lender is reviewing… you, on your existing credit service, or if there is any fresh software. We may refrain from applying for too many new credit facilities in a short amount of time in light of this new program.

Andrea:
How small is quick? &nbsp,

Sok Quan:
It depends on the ( bank’s risk appetite. ) Therefore, a person applying for 10 record features in a month demonstrates that they are looking for a lot of credit. If you submit too many programs in this part, it will have a more or less negative impact on your credit score. &nbsp,

Andrea:
Do n’t apply for too many credit facilities in a row.