Your credit report is a snapshot of your financial history that helps financial institution assess your creditworthiness. It includes your personal information, credit history, current debts, and inquiries from lenders. While it doesn’t show your salary or purchases, it’s a crucial tool for understanding your creditworthiness.
Regularly checking your credit report can help you spot errors, detect identity theft and improve your chances of securing loans.
In the Philippines, companies like TransUnion provide this information to help both lenders and consumers make informed financial decisions. Keep your credit score strong by maintaining good financial habits and reviewing your report at least once a year.
Learn more how you can understand your Credit Report by visiting the the below article: