. On the flipside, a low credit score is not likely to get you very far in loan negotiation with a bank.Your credit score is not a random number that is assigned to you. The CBS will pool together all your credit payment history and assess the data to determine your financial health, reliability to repay debts and probability of defaulting them. Typically, your credit score is calculated based on your payment history, amount owed, new credit, length of credit history and credit mix.
If you already have a good credit rating in the range of AA or BB, you are in a fine position to apply for personal loans or any types or loans in Singapore and even negotiate for larger loan sums or more favourable interest rates. However, your credit score is much like your health, you need to exercise prudence and take the right actions at all times to keep it at an optimum level.? The easiest way is to pay all your loans on time and avoid spending close to or beyond your credit limit.