🏦 BanksWhat is a credit report and credit score in Singapore?
When you apply for a bank loan, a credit card, or a car or renovation loan in Singapore, the lender pulls your report from Credit Bureau Singapore (CBS) — the main bureau, a joint venture between the Association of Banks in Singapore and a bureau operator, overseen by the Monetary Authority of Singapore. CBS turns your borrowing history into a four-digit score from 1000 to 2000 and a risk grade from AA (best) to HH. There is also DP Credit Bureau, used more for some non-bank lenders. Understanding what feeds the score helps you protect your access to credit.
What the report and score show
Your CBS report lists your credit accounts (credit cards, personal loans, car loans, home loans, overdrafts), the limits and balances, and 12 months of payment conduct on each. It also shows recent applications ('enquiries'), any accounts in default, and public records such as bankruptcy. It does not show your income, savings, race or religion.
The 1000–2000 score is a probability of default over the next 12 months: 1911–2000 (grade AA) is the lowest risk, 1000–1723 (grades FF–HH) the highest. Paying every bill in full and on time, keeping your card balances low relative to the limit, and not making many applications close together are what keep the score high.
Defaults, and how long things stay
Account status and payment history are retained for 12 months after the account is closed. Default records stay for 3 years after the default is settled. A bankruptcy stays for 5 years after discharge (or longer if not discharged). So a past problem fades, but only if you clear it.
If you are falling behind, contact the lender before the account is classified as delinquent — a restructured repayment plan agreed early is far better for your record than a default. Credit Counselling Singapore (CCS) runs a Debt Management Programme for people with multiple unsecured debts.
Getting your own CBS report
You can buy your CBS report and score any time from the CBS website or app for a small fee (around S$8), or get it free within 30 days of applying for credit with a CBS member bank. Check it before any big application so you can dispute errors first.
If something is wrong — an account that is not yours, or a settled debt still showing as outstanding — file a dispute with CBS, which must investigate with the lender that reported it. Keep your settlement letters and statements.
Frequently Asked Questions
- What is a good credit score in Singapore?
- On the CBS scale of 1000–2000, anything from about 1844 up (grades BB and AA) is considered low risk and rarely a problem for a loan. Below roughly 1723 (grades DD–HH) lenders start to hesitate or decline. The score reflects the last 12 months of conduct most heavily.
- Does checking my own credit report lower my score?
- No. Buying your own CBS report is not a credit application and is not visible to lenders as an enquiry. It is applications for actual credit that are recorded — several in a short span can count against you.
- How long does a default stay on my CBS record?
- A default record stays for 3 years after you settle it. Account and payment history stay 12 months after closure. A bankruptcy stays 5 years after discharge. Clearing the debt starts that clock; leaving it unpaid keeps it visible indefinitely.
Informational content, not financial, tax or legal advice. Check amounts, limits and current rules directly with the official sources (CPF, the Monetary Authority of Singapore, IRAS, and the SDIC) before making a decision.
