How to get an official credit report

Banks may request for your credit report before they give you a loan. Find out about the credit bureaus, credit reports and the things that can affect your credit score.

Key takeaways

• Banks may use your credit report to assess your financial situation.
• Every default or late payment leaves a mark on your score.
• Learn good money habits to ace your future credit report.

What is a credit bureau?

A credit bureau is an agency that collects and stores information on your credit history, such as loans, credit card applications and repayment records.

Information in the credit report is provided by members of the credit bureau such as banks and credit card companies, and obtained from public sources on bankruptcy.

Approved credit bureaus

For banks and finance companies, only 2 credit bureaus are allowed to obtain such information in Singapore. They are Credit Bureau (Singapore) and Experian Credit Bureau Singapore (ECBS).

For licensed moneylenders, the Moneylenders Credit Bureau (MLCB) is the central repository of data on borrowers’ loans and repayment records with licensed moneylenders. It allows licensed moneylenders to assess the creditworthiness of borrowers and help borrowers avoid borrowing beyond their means.

What is a credit report?

A credit report is a compilation of your credit payment history collected across all your banks. It is issued by a credit bureau to banks, finance companies and credit card companies when they make enquiries about you. You may also request a copy of your report from the bureaus.

The credit report includes information such as:

• Basic personal profile data (excluding contact addresses and telephone numbers).
• Records of all credit checks made on you.
• Credit repayment trend for the past 12 months, including late payments on credit card bills.
• Default records, if any – displayed from the date it was uploaded to the credit bureau.
• Bankruptcy records, if any – displayed for 5 years from the date of discharge. If you are able to repay your debts in full, the Bankruptcy Order will be annulled and your bankruptcy record will be removed immediately.
• Closed or terminated credit accounts – displayed for 3 years from the date the account was reported closed or terminated.
• Aggregated outstanding balances.
• Aggregated credit limits.

Why it matters

The credit score on your report shows how likely you will repay your debts.

Banks will assess your creditworthiness by looking at the credit score. The score helps them make better lending decisions when you apply for loans and credit cards.

A good credit repayment history makes it easier for you to qualify for loans and credit cards in the future.

Factors that affect your report

A number of different factors could affect your credit report:

• Credit you have now - This includes the number of accounts open or active that provide you with a credit facility.
• Credit history - Long-established credit history shows that you're a reliable borrower.
• Enquiry activity - Too many new applications or enquiries show that you're trying to take on more debt. Don't apply for a new credit card unless you need it.
• Recent credit - If you have recently taken multiple new credit facilities within a short period, you may be overextending yourself.

How to get a copy of your report

To check your credit score, contact Credit Bureau Singapore or Experian Credit Bureau Singapore (ECBS).

If you disagree with your report

If you spot an error or disagree with some information in your credit report, write to the credit bureau about it. The credit bureau will:

• Speak to the bank that provided the data
• Post a notice in your credit report that the data is being disputed and is under investigation.
• Inform you of the outcome
• If any amendment is made to your credit report, send the revised report to all banks who have made enquiries on you in the past three months

Tips on keeping a good credit score

To maintain a healthy credit score:

• Pay all your outstanding monthly credit in full
• Always keep track of the payment due dates and remember to pay before then
• Avoid too many sources of credit. It's easier to keep track of your repayments when you have fewer credit facilities

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Raise Your FICO® Score Instantly with Experian Boost™

Experian can help raise your FICO® Score based on bill payment like your phone, utilities and popular streaming services. Results may vary. See site for more details.

Checking your credit report—a financial report that includes information about your credit accounts—can help you maintain or improve your credit and check for signs of identity theft. If you want to check your credit reports for free, use AnnualCreditReport.com.

Federal law allows you to use this website to request one free copy of your credit report a year from each of the three major credit bureaus—Equifax, Experian and TransUnion.

We’ll teach you how to use the website and what to look for while reviewing your credit reports.

1. Visit AnnualCreditReport.com

Start by visiting AnnualCreditReport.com to get your free credit report. Make sure you visit the correct website by typing the address into your browser’s search bar or clicking a link from a website you trust to avoid attempts to steal your personal information. Here’s what it looks like:

2. Enter Your Personal Information

Once you’re on the correct website, click on the button near the top of the page or bottom left that says, “Request your free credit reports.” Afterward, click on the button with the same words below the line that reads, “Fill out a form.” Finally, complete the form by entering your name, birthdate, current address and Social Security number (SSN).

If you haven’t lived at your current address for at least two years, you’ll have to enter your previous address, too.

3. Request Credit Reports & Answer Any Security Questions

After you fill out the form, you can request your credit reports from the three major credit bureaus. You’ll likely be asked to answer some security questions to verify your identity. For example, you may be asked when you were born or information about past accounts you may have owned. In addition, you may be asked to provide your phone number to receive a one-time password.

4. Generate Your Report Online

Once you access your credit reports, download them to your computer or print them before you exit out of the window for later review.

If you have trouble requesting an online copy of your credit reports, you can also request to receive a free copy by mail or phone. To receive a free copy by mail, fill out the mail request form and send it to this address:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, Ga 303348-5281

The form asks you the same questions as the online form.

If you prefer calling instead, dial 877-322-8228.

5. Review Your Report & Dispute Any Errors

Reading your credit report is one of the most vital steps when it comes to building credit and maintaining it. While reviewing your report, make sure your personal and account information is accurate.

Common credit reporting errors to look for include the following:

• Incorrect name or address
• Paid accounts that are listed as open
• Account balance or credit limit errors
• Accounts that don’t belong to you

If you spot an error, dispute it with each credit bureau that lists it on your report or the creditor that reported it. The investigation will typically take 30 days to complete. Once it’s over, the credit bureau will remove the information if it finds that it is in fact an error.

Raise Your FICO® Score Instantly with Experian Boost™

Experian can help raise your FICO® Score based on bill payment like your phone, utilities and popular streaming services. Results may vary. See site for more details.

Frequently Asked Questions (FAQs)

Why is it important to check my credit report?

It’s important to check your credit report because credit reporting mistakes happen. They can be the result of a creditor reporting inaccurate information or a sign of identity theft. If the error lowers your credit score, it can decrease your approval odds when applying for a loan and it could prevent you from securing the best rate.

How many free credit reports can you get per year?

The number of credit reports you can get for free depends on where you get them from and whether you’ve placed a fraud alert on your credit reports.

For example, the Fair Credit Reporting Act (FCRA) entitles you to receive one free credit report from each major credit bureau a year. This means you can view all your credit reports for free once per year through AnnualCreditReport.com.

In addition, some credit reporting companies and personal finance websites allow you to check one or more of your reports for free. For example, if you sign up for myEquifax™, you can get six free Equifax credit reports per year through 2026. Experian also allows you to view your Experian credit report for free 12 times a year.

You can also get an additional free copy of your report from each credit bureau if you suspect fraud and place a fraud alert on your credit reports. To do this, you must contact one of the credit bureaus.

If you’ve been a victim of identity theft and filed a report, you can get an additional six free credit reports per year, two from each credit bureau.

How often should I check my credit report?

It’s generally recommended that you check your credit reports a minimum of one time a year, but you can check them as often as you like. Before you apply for credit, it can be a good idea to review your reports for errors to increase your chances of securing more favorable terms, such as lower interest rates.

What’s the difference between a credit report and a credit score?

Although they are interconnected, your credit report and credit score are separate.

Your credit report contains information about your credit accounts, including any balances you owe and your payment history. Your credit score, on the other hand, is a three-digit number that usually ranges from 300 to 850. Credit scoring models, such as FICO, use the information listed in your credit reports to calculate your score.

How does getting a free copy of my credit report impact my credit score?

Requesting your credit report requires a soft credit check, which has no impact on your credit score.

What is the best site to get a credit report?

How do I get a copy of all 3 credit reports?

Is AnnualCreditReport com safe?