CTOS launches service for public to check credit score

KUALA LUMPUR: CTOS Data Systems Sdn Bhd has introduced its "What's Your CTOS Score" initiative, which allows the public to access to their CTOS Score.
Ranging from 300 to 850, the CTOS Score indicates a consumer's credit risk and is based on payment history (35%), amounts owed (30%), credit history length (15%), credit mix (10%) and new credit (10%).
"Understanding credit management is one of the basic components for good financial health, and must be inculcated regardless of age, gender, education or income. This process begins with obtaining a credit score which evaluates an individual's creditworthiness and approach to fulfilling debt or payment obligations," CTOS CEO Eric Chin told a press conference here today.
The score report is available through www.ctoscredit.com.my or via the CTOS mobile app. As part of its launch promotion, the first 100,000 to sign up will get their credit score report, worth RM25, for free.