In the process of applying for a loan, lenders may look into your transaction history for any other financial obligations you may have such as credit card balances. Before applying for a loan, try to take care of any outstanding liabilities as they impact how much money lenders will allow you to borrow.
Maintain a good credit score
Banks and financial institutions assess your creditworthiness to find out if you’re a trustworthy borrower. One of the ways they do so is by looking at your credit score.
Your credit score is determined by factors like payment history, length of credit history, kinds of credit used, credit limit utilized, amount owed, and the number of new credit applications made. In the Philippines, credit scores range from 300 to 850. The higher your credit score, the easier it is to get approval for loans, credit cards, and other essential financial services.
To easily check your credit score, Lista, the fastest-growing financial management app in the Philippines, has partnered with the country’s leading credit bureau, CIBI Information Inc. (CIBI). Through this partnership, The Credit Information Corporation (CIC), the country’s sole public credit registry and repository of credit information, has authorized Lista to access CIC credit data through CIBI as a non-accessing entity.
This authorization makes it possible for Filipinos to access their credit scores and credit reports through Lista, utilize other premium features on the Lista app such as the Credit Score Trend, and learn tips on how to improve their credit standing.
“Lista was created to help more Filipinos enjoy the benefits of greater financial inclusion. With credit driving today’s economies, it’s time for more Filipinos to unlock better economic opportunities through better access to credit,” said Aaron Villegas, Lista co-founder. “With just a few clicks on the Lista app, anyone can easily view their credit scores and reports. They can also access tips and strategies to improve their standing, helping more Filipinos create and maintain good financial habits that can lead to financial independence.”
Get your credit score on Lista for only P199 per request. Users must prepare one valid ID for identity verification.
Lista is available to download for free on both iOS and Android platforms. Download now via the
App Store or
Google Play Store.
About the Credit Information Corporation:
The Credit Information Corporation (CIC) is a government-owned and controlled corporation created by Republic Act No. 9510, otherwise known as the Credit Information System Act (CISA). It is governed and supervised by the Securities and Exchange Commission (SEC), with the primary mandate to establish a comprehensive and centralized credit information system for the collection and dissemination of fair and accurate information relevant to, or arising from, credit and credit-related activities of all entities participating in the ecosystem.
To learn more about the CIC, visit
https://www.creditinfo.gov.ph/ or its official Facebook page
https://www.facebook.com/creditinfo.gov.ph