|What is a Credit Report?
A Credit Report is a collection of historical credit data from various financial institutions, utilities, governments etc on individuals and companies in the UAE. The report includes:
Record of current and previous credit facilities
Payment history over last 24 months
Records of any defaults and bounced checks
How will a Credit Report benefit you?
Helps you understand your credit-worthiness
Lowers the costs of credit for a good borrower
Provides greater access to capital for Small & Medium Businesses
The process of obtaining approval for borrowings (i.e. loans, credit cards etc…) will be more transparent and accurate