MyCTOS Score report provides a detailed evaluation of a consumer’s credit worthiness with a credit score system called CTOS Score. Calculated based on five factors – payment history, amount owed, length of credit history, credit mix and new credit – the CTOS Score summarises your credit information and presents it in an easy to understand three-digit number. A high credit score indicates a person with good credit worthiness – someone who pays their bills promptly, maintains a low balance on credit cards and other revolving credit and obtains new credit only when needed. Crucially, you may be able to use a good credit score to negotiate with lenders for a better deal. “With a good credit score, you can say ‘Look, this means I’m a good customer.

Source: The Star December 10, 2017 01:41 UTC