The Credit Score is a three-digit number that predicts the likelihood of an individual or a company to miss payments in the next 12 months.

It ranges from 300 to 900 and the higher your score the lower the level of risk. Your score is generated using statistical models that factor multiple data points from your credit profile.

The Credit Score is used by banks, finance companies, telecommunication companies and other institutions to assess their customers, clients and business partners’ credit worthiness and specifically how likely they are to miss their payment obligation in the next 12 months.

Thanks to the Credit Score these companies are able to process applications faster, provide preferential benefits in case of high score and take more informed decisions.

Your Credit Report is a document that includes your personal details, all your credit facilities, bounced cheque information and your payment history up to 5 years.

It also includes court-ordered financial obligations and balances and payments of monthly telecommunications, water and electricity bills are going to appear in credit reports.

The information in your Credit Report is provided by banks, finance companies, telecom/utility companies and courts.

The Credit Report is used by banks, finance companies, telecommunication companies and other institutions to analyse their customers, clients and business partners’ financial standing and detailed credit and payment history up to 5 years.

Thanks to the Credit Report these companies are able to obtain the information they need to evaluate credit or service applications, assess any related risk and ultimately decide whether to approve or reject them.