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1. What is credit? What is Credit Health and why is it important?

Literally, credit means the borrowing of money to pay back at a later time. There are various types of credits such as loans and revolving accounts (credit cards).

Your Credit Health is your reputation and creditworthiness as a borrower. It is a performance indicator of your financial credibility.

It is important to keep tab of your credit health as potential lenders will review your credit report to assess your creditworthiness prior to making a decision, e.g., on whether to approve your housing loan or credit card application, or even the interest rate for your loan.

There is also an increasing number of employers, especially in the finance and gaming industries, scrutinising job applicants’ credit health to ensure their suitability for certain job natures.

An understanding of your credit health forms the basis of all future decision including your money management facilities and lifestyle.


2. What is a credit report and how can I get a copy of my report?

Your credit report is a record of your credit payment history compiled from banks and major financial institutions. Every month, the payment performance data is uploaded by the banking and finance industry to Credit Bureau Singapore (CBS). Your credit file will include information such as loan payment performance as reported by the financial institutions. Such information is used by other financial institutions in the assessment process for any credit facilities you may apply for, or for review of such existing facilities.

You may get a copy of your credit report via If you would like to review your credit reports regularly, you may subscribe to "My Credit Monitor" (MCM). Click here to find out more about MCM promotion.


3. Is Ren Consultancy a credit management/debt consolidation company?

Ren Consultancy is not a credit management company. Ren Consultancy provides unbiased recommendations on the best course of action to manage your credit and improve your credit health through personal consultations. When necessary, Ren Consultancy will also recommend the relevant agencies/authorities whose attention is required for support on your financial issues.


4. Will my employer know if I engage Ren Consultancy for personal consultation services?

Ren Consultancy will not disclose any information of client’s credit health analysis and credit report to a 3rd party, unless authorised. As such, your engagement with Ren Consultancy will be kept confidential from your employer.


5. How long does the action plan take to take effect? Can I see improvement in my credit score immediately after the consultation?

Credit history has a rolling effect. It takes only 6 months to 1 year to build destructive credit, but it may take 5 to 10 years to rebuild the lost reputation and creditworthiness.

The best news is that you have made a conscientious decision to take the first steps and to rectify a problem. The magnitude of the problem(s) and the goal(s) that you would like to achieve are relative to the length of time in accomplishing your goals.


6. Can I do a walk-in consultation?

Consultations are by appointment only. This is to ensure sufficient time for analysis of relevant information, which is submitted prior to the consultation, and to protect the privacy of clients. Our consultants may also be engaged and may not be available to attend to you.