Have you ever been rejected from an application for a loan or a credit card because of your poor credit score? This is the best time for you to get to the bottom of your credit rating issues by getting a credit report. Banks and companies refer to your credit report when you apply for credit or facilities with them, so it makes sense that you find out what is in your credit report too.

One of the ways you can get your credit report is through a licensed credit reporting agency (“CRA”) such as RAM Credit Information Sdn Bhd (“RAMCI”). RAMCI offers a range of credit information at your disposal, with one of them being a personal credit report service. Here’s what to expect when you receive a personal credit report from RAMCI and how to read it.

Now that you know what a credit report looks like and how to understand the various information displayed on it, you can use this knowledge for the better. Identify the areas of your finances that are affecting your credit score as shown in your report and see if there any lifestyle or financial changes you can make to fix them. For instance, avoid maxing out your credit card when you can only afford a small percentage of the amount. Paying your bills and loan repayments on time will also go a long way towards improving your credit score.

Remember, you should also check through your credit report carefully to make sure everything is accurate, so you can raise any disputes or update your information if necessary.

You can find out more about RAMCI and the Personal Credit Report Plus (PCRP) here.

 

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