Credit Bureaus in Singapore and Why They Matter

• Credit Bureau Singapore (CBS): Credit Bureau Singapore (CBS) is the primary consumer credit bureau in the country. Established in 2002, it is jointly owned by the Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd. CBS collects and maintains credit records of individuals, helping financial institutions assess credit risk.

• Experian Credit Services Singapore: Experian, a global credit reporting agency, also operates in Singapore. It offers credit risk assessment services, analytics, and business information solutions to lenders and businesses. While CBS primarily focuses on individual credit records, Experian provides insights into both consumer and commercial credit behaviour.

• Singapore Commercial Credit Bureau (SCCB): SCCB specialises in commercial credit information. It provides businesses with credit risk assessments of corporate entities, helping companies manage credit exposure when extending trade credit.

» Read more on why building a credit score early is important

Credit bureaus collect and analyse financial data to create credit reports. These reports are used for various purposes, including:

• Assessing creditworthiness: Lenders check your credit history to determine loan eligibility, interest rates, and credit limits. A strong credit report increases your chances of getting approved for credit cards, home loans, and personal loans.

• Employment and tenant screening: Some employers and landlords may request credit reports to evaluate financial responsibility, especially for jobs involving financial management or high-value rental properties.

• Risk management by financial institutions: Banks and financial institutions assess credit risk for both new and existing customers to prevent defaults.

• Fraud detection and prevention: Unusual credit activity can indicate identity theft or fraudulent transactions. Credit bureaus help detect and prevent such risks.

Credit bureaus gather a variety of information to create your credit report. This includes personal identification details, credit history, and financial behavior, such as:

• Personal identification details: This includes your full name, national identification number (NRIC), date of birth, nationality, and contact information.

• Credit accounts and payment history: Details regarding your credit facilities, repayment behaviour, and any outstanding balances.

• Public records: Information related to bankruptcy filings, court judgments, and other legal proceedings.

• Credit enquiries: A record of recent credit applications and inquiries made by financial institutions.

 » Learn more: 5 hidden ways your credit score can affect your life

If data privacy is a concern, rest assured that credit bureaus are strictly regulated by the Monetary Authority of Singapore (MAS), which places strict limits on how they collect and share your personal information.

Your credit reports do not contain the following details: 

• Income and net worth: Credit reports do not include salary details or total assets.

• Savings and investments: Bank account balances, stocks, and other investments are not included.

• Utility and rent payments (Unless reported by lenders): Monthly bills like electricity, water, and internet typically do not appear on your report unless a lender reports them.

• Criminal records and legal judgments (Unless bankruptcy related): Legal issues unrelated to financial obligations, such as criminal records or civil lawsuits, do not appear on your credit report—except for bankruptcies.

While these details are not included in your credit report, some accounts — such as utilities and rent — may still show up if payments are missed and the debt is sent to collections.

Credit bureaus collect data from various sources to compile your credit report. Creditors track how you manage your accounts—such as your payment history—and report this information to the bureaus.

Here are the primary sources of data:

• Banks and financial institutions: Credit card issuers, banks, and licensed moneylenders report account details and repayment behaviour.

• Telecommunication and utility companies: Some service providers may report your payment history for telecom or utility bills.

• Court and public records: Bankruptcy filings and other financial legal proceedings are included in credit reports.

• Other lenders and credit agencies: Non-bank financial institutions, such as car loan providers and Buy Now, Pay Later (BNPL) services, also contribute data.

While some accounts—like rent and utility payments—typically don’t appear on your credit report, they can be recorded if payments are missed and lead to debt collection. 

Additionally, data from public records, such as repossessions, bankruptcy filings, and foreclosures, may also be included in your report.

If you have a limited credit history, adding alternative data to your credit report may help establish your credit profile. Some options include:
Alternative credit data: Timely payments for rent, utilities, and mobile bills can demonstrate financial responsibility.

• BNPL and digital loan repayments: Emerging financial products, such as Buy Now, Pay Later (BNPL) services, may be considered in future credit evaluations.

• Financial behaviour patterns: Consistent savings, responsible spending habits, and stable employment history can indirectly reflect creditworthiness.

While these factors may not always be included in traditional credit reports, some lenders and financial institutions consider them when assessing an individual's financial reliability.

» Check out our guide on checking your credit score in Singapore

You can obtain your credit report through various channels. Here’s what you need to know:

• Credit Bureau Singapore (CBS) website: Request your credit report online or visit in person.

• Fees: Standard charges apply, but you may be eligible for a free report through annual entitlements or promotional offers.

• How often to check: Regular monitoring helps identify errors or signs of fraud early.

• Key details to review: Ensure accuracy in your credit score, outstanding loans, credit limits, and repayment history.

Reviewing your credit report regularly is essential, as any inaccuracies could affect your credit score and borrowing eligibility.

» Find out what is on your credit report

If you spot an inaccuracy on your credit report, you have the right to dispute it. This involves filing a formal request online, by phone, or by mail, and the credit bureau is required to investigate.  

• Identifying Errors: Look out for inaccuracies in personal details, payment history, or account status.

• Dispute Process: If you find an error, contact Credit Bureau Singapore (CBS) and submit the necessary documentation to support your claim.

» Find out 4 major reasons why your credit card application was declined

Placing a credit freeze is a proactive way to safeguard your financial identity. It blocks unauthorised access to your credit report, preventing scammers from opening accounts in your name. Freezing and unfreezing your credit is free and does not impact your credit score.

• How to request a credit freeze in Singapore: Reach out to Credit Bureau Singapore (CBS) or Experian with the necessary documents to initiate the freeze.

• Alternatives to a credit freeze: Consider credit monitoring services or setting up fraud alerts for added security.

» Find out about the best loans to improve your bad credit score