Your credit record influences whether — and how much — a bank will lend. Here's how it works in Singapore and how to put your best foot forward.
Credit Bureau Singapore (CBS) is the main consumer credit bureau. It compiles your borrowing and repayment history from banks and financial institutions into a credit report and a credit score — a number that lenders use, alongside TDSR and LTV, to gauge risk. A stronger record can smooth your loan approval; a weak one can reduce the amount offered or raise scrutiny.
On-time payments build a strong record; late or missed payments and defaults hurt it.
How much of your available credit you use. Lower, consistent usage reads well.
A flurry of new credit applications in a short window can be a red flag to lenders.
You can buy your credit report directly from Credit Bureau Singapore, and you're entitled to a free report after certain events (such as a new credit facility). Reviewing it before you apply for a mortgage lets you spot errors and clear issues early.
Clearing a car or personal loan does double duty: it can lift your credit standing and unlock a bigger mortgage under TDSR. See which debts to clear first.