{"id":713,"date":"2012-07-01T08:29:14","date_gmt":"2012-07-01T00:29:14","guid":{"rendered":"http:\/\/www.imoney.my\/?p=713"},"modified":"2017-07-21T11:18:56","modified_gmt":"2017-07-21T03:18:56","slug":"5-ways-to-improve-your-credit-score","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score","title":{"rendered":"5 Ways To Improve Your Credit Score"},"content":{"rendered":"

\"Credit<\/p>\n

Many people underestimate the importance of having a good credit score, or rating<\/a>. Credit ratings are like report cards for borrowers. Without a good rating, it can cost you a lot more to take out a loan from the bank, for instance, you might be charged a higher interest rate compared to others who have a better rating.<\/p>\n

The good news is, it\u2019s not difficult to improve your score, although like losing weight, it doesn\u2019t happen overnight. Below are some tips to help you do just that:<\/p>\n

<\/span>Pay your bills on time<\/strong><\/span><\/h2>\n

Banks love people who pay their bills on time. If you have a history of late repayment, it will show up in your credit report generated by the Central Credit Reference Information System (CCRIS)<\/a> under Bank Negara Malaysia (BNM), and this report is accessible to all banks. Banks can easily request for your credit history through the Credit Bureau under BNM, and are known to be unforgiving with bad records.<\/p>\n

<\/span>Have a steady job<\/strong><\/span><\/h2>\n

Having a job with a steady income would significantly improve your credit score. A steady source of income signifies that you are less likely to miss your loan repayment, which means you\u2019re a less risky borrower to the bank. A less risky borrower typically has a better credit score.<\/p>\n

<\/span>Own some assets<\/strong><\/span><\/h2>\n

If you own some assets, your credit score would improve. Banks view assets such as investment properties and saving deposits as a signal of your financial well-being.<\/p>\n

Read more to understand about other asset classes<\/a> that you can invest in to improve your credit rating.<\/p>\n

<\/span>Reduce your debt<\/strong><\/span><\/h2>\n

In order to have a better credit rating, you should not only ensure that you consistently meet the repayment of your debt, but where possible, pay in full the outstanding balances on your debt. One good idea is to reduce the number of credit cards and debt accounts you own. You can utilise a credit card balance transfer facility<\/a> to consolidate your credit card account or a personal loan<\/a> to merge your debt accounts. Banks are well aware of your borrowings elsewhere, and having many different debt obligations when you try to take out another loan is never a good idea!<\/p>\n

<\/span>Be a loyal customer<\/strong><\/span><\/h2>\n

Banks normally treat loyal customers better. Having a long credit history with a particular bank will generally enhance your credit rating with the bank. However, if you can save significant amount of money by switching banks, you should probably do so!<\/p>\n

<\/span>It’s really not that difficult to improve your credit score. However, before you rush out and start applying for a new credit card, make sure you ask yourself these 3 important questions<\/a>!<\/strong><\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"

Many people underestimate the importance of having a good credit score, or rating. Credit ratings are like report cards for borrowers. Without a good rating, it can cost you a lot more to take out a loan from the bank, for instance, you might be charged a higher interest rate compared to others who have… View Article<\/a><\/p>\n","protected":false},"author":1,"featured_media":8917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[309,218],"tags":[305],"class_list":["post-713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-creditscore","category-money-management","tag-fb"],"acf":[],"yoast_head":"\n5 Ways To Improve Your Credit Score<\/title>\n<meta name=\"description\" content=\"Having a good credit score is important if you want to take out a loan from the bank. Here are 5 things you could do to improve your credit score.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways To Improve Your Credit Score\" \/>\n<meta property=\"og:description\" content=\"Having a good credit score is important if you want to take out a loan from the bank. Here are 5 things you could do to improve your credit score.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-01T00:29:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-07-21T03:18:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/credit-score.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"506\" \/>\n\t<meta property=\"og:image:height\" content=\"337\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"iMoney Editorial\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"iMoney Editorial\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score\",\"url\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score\",\"name\":\"5 Ways To Improve Your Credit Score\",\"isPartOf\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#primaryimage\"},\"thumbnailUrl\":\"\/articles\/wp-content\/uploads\/credit-score.jpg\",\"datePublished\":\"2012-07-01T00:29:14+00:00\",\"dateModified\":\"2017-07-21T03:18:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb\"},\"description\":\"Having a good credit score is important if you want to take out a loan from the bank. Here are 5 things you could do to improve your credit score.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#primaryimage\",\"url\":\"\/articles\/wp-content\/uploads\/credit-score.jpg\",\"contentUrl\":\"\/articles\/wp-content\/uploads\/credit-score.jpg\",\"width\":506,\"height\":337,\"caption\":\"Credit Score\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.imoney.my\/articles\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CreditScore\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/creditscore\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"5 Ways To Improve Your Credit Score\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\",\"url\":\"https:\/\/www.imoney.my\/articles\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.imoney.my\/articles\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb\",\"name\":\"iMoney Editorial\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g\",\"caption\":\"iMoney Editorial\"},\"description\":\"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.\",\"sameAs\":[\"http:\/\/www.imoney.my\"],\"url\":\"https:\/\/www.imoney.my\/articles\/author\/chinglee\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"5 Ways To Improve Your Credit Score","description":"Having a good credit score is important if you want to take out a loan from the bank. Here are 5 things you could do to improve your credit score.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score","og_locale":"en_US","og_type":"article","og_title":"5 Ways To Improve Your Credit Score","og_description":"Having a good credit score is important if you want to take out a loan from the bank. Here are 5 things you could do to improve your credit score.","og_url":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score","og_site_name":"iMoney Malaysia","article_published_time":"2012-07-01T00:29:14+00:00","article_modified_time":"2017-07-21T03:18:56+00:00","og_image":[{"width":506,"height":337,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/credit-score.jpg","type":"image\/jpeg"}],"author":"iMoney Editorial","twitter_card":"summary_large_image","twitter_misc":{"Written by":"iMoney Editorial","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score","url":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score","name":"5 Ways To Improve Your Credit Score","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#primaryimage"},"thumbnailUrl":"\/articles\/wp-content\/uploads\/credit-score.jpg","datePublished":"2012-07-01T00:29:14+00:00","dateModified":"2017-07-21T03:18:56+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"description":"Having a good credit score is important if you want to take out a loan from the bank. Here are 5 things you could do to improve your credit score.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#primaryimage","url":"\/articles\/wp-content\/uploads\/credit-score.jpg","contentUrl":"\/articles\/wp-content\/uploads\/credit-score.jpg","width":506,"height":337,"caption":"Credit Score"},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/5-ways-to-improve-your-credit-score#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"CreditScore","item":"https:\/\/www.imoney.my\/articles\/category\/creditscore"},{"@type":"ListItem","position":3,"name":"5 Ways To Improve Your Credit Score"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb","name":"iMoney Editorial","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g","caption":"iMoney Editorial"},"description":"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.","sameAs":["http:\/\/www.imoney.my"],"url":"https:\/\/www.imoney.my\/articles\/author\/chinglee"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/713"}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=713"}],"version-history":[{"count":20,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/713\/revisions"}],"predecessor-version":[{"id":24433,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/713\/revisions\/24433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/8917"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}