Last Updated on 20, January 2015
Credit Bureau is now able to generate a report which includes aggregate credit limits and aggregate outstanding credit balances.
Aggregate credit limits are maximum amounts of credit that can be granted by lenders to the consumer. Aggregate outstanding balances are amounts that are outstanding under a consumer’s credit cards or other credit facilities. This includes amounts from unbilled interest-free instalment payment plan.
Source: Credit Bureau Singapore launches Enhanced Consumer Credit Report
My comment:
I have been using the reports generated by Credit Bureau as part of the fact finding exercise when doing financial planning for my clients. For a fee of just $6.42, it provides a high level view of my clients’ credit history. Now that it contains aggregate credit limits and current outstanding, my life is now made much easier.
Like this article? Subscribe to my newsletter below for more.
Hi,
Just to bring to your attention , on 4 feb 2014 when I went to extract the credit report form CBS, was shocked to found out that aggregate outstanding balance was $196,000 in credit card debt by OCBC bank when I am not holding any credit card. How can CBS made an untrue report of an individual,and who to verify the information supply to them.
Is it a mortgage loan, line of credit etc? The report is not limited to credit cards.