In most parts of the world, if you ever want to obtain a loan from a financial institution, a good credit score is crucial to your chances of applying successfully. This is also obtainable in Singapore. Therefore, It is best you prepare for rainy days.

A credit score is a number that shows the likelihood of you paying up a debt. No money lender will be willing to lend to anyone with a bad credit score. Let’s see ways in which you can keep a good credit score so you can be open to loans.

1.      Pay bills as at when due
Analyze your statements and pay them as at when due. If you leave bills unpaid even when you have the means to do so, it will be termed a “missed bill” on your credit card. If this happens for too long, it lowers your chance of obtaining a loan from lenders in Singapore

2. Always look out for mix-ups in your credit report
Checking your financial statement is something you should do at a regular interval. Little mix-ups could spoil your chance of obtaining a loan in Singapore. The banking system might be flawed by some irregularities at one time or the other, thereby bringing about some form of inconsistencies in your credit data. This is not good for your credit score.

3.      Don’t apply for multiple credits within a short period
Taking too many loans in a short period is not a good thing. It presents you to money lenders as an individual who is not financially stable. Whenever you apply for new credit funds, it puts up an enquiry against your credit report. This report lingers for two years. Hence, it would be best if you exercise caution when it comes to credit applications by spacing it over a long period, so it doesn’t affect your credit score negatively.

4. Use your credit card consistently.
If you are the type that remembers your credit card only when you want to obtain a loan or when you want to pay it back, you need to make a change today. Make use of your credit cards as much as you can.
A credit score is used to determine if you are a responsible user of the credit or not. This will not be discernable if you only use your card whenever you want to lend money credit scores; the actual situation of your credit score will not be discernable — thereby limiting your chances of obtaining a loan.

5.      Make long term commitments to improving your credit score.
Records of debt linger for long on your credit card. If you want a healthy credit score, you have to start being careful with your expenses today. By watching the services, you pay for and not taking unnecessary loans.


Improving your credit score is an excellent way to plan for the future. It opens you up to loan opportunities when you are financially distressed. Keep working at it, and it will get better with time.