Considering applying for a loan or obtaining another credit card? It's crucial to examine your credit score or obtain your credit report to gauge how banks might view you as a potential customer. A higher credit score increases the likelihood of loan approval. This three-digit number plays a pivotal role in your financial well-being, affecting everything from interest rates to processing times. Here's what you need to know about your credit score.
The Al Etihad Credit Bureau is responsible for generating credit reports in the country, considering factors such as payment history, credit usage, debit card numbers, and bounced cheques. The cost to generate a credit report varies: A credit score costs Dh10.50, while a credit report with the score is Dh84.50.
Checking your credit score or obtaining a credit report is straightforward: Visit the Al Etihad Credit Bureau website, log in, and select either the credit score or the credit report with the score. Then, proceed to purchase and generate the report.
To enhance your credit score, aim for a range between 400 and 700; above 700 is excellent. If your score is below 400, consider making timely payments, avoiding bounced cheques, reducing credit cards and loans, and managing outstanding balances and credit limit utilization. If you notice any errors in your credit report, use the Data Correction Request form on the Al Etihad Credit Bureau website to report discrepancies, ensuring you provide necessary documents like your Emirates ID and credit report.
