Complete Hong Kong Credit Score Guide

Everything You Need to Know About Credit Score
Beginner's Guide
What is a credit score?
Beginner's Guide
What is in your credit report?
Things You Need to Know About Credit Score
How does your credit score affect your daily life?
Credit Score
Factors affecting your credit score
Improving your credit score
How to improve your credit score?
Viewing your credit score
How to check your credit score?
Bad credit loan
Applying for bad credit loan
Things You Need to Know About Credit Score
Credit Score FAQ
What is a credit score?
Credit score, as its name implies, is related to your credit. Your score is based on your credit history, including loans, credit cards, and payment behaviors, reflecting how you manage your money and how likely you are to repay borrowed money.
In Hong Kong, credit scores are primarily provided by TransUnion, rated on a grading scale from A to J, with letter grade A being the best and J being the worst. Lenders and banks would use your credit score to assess financial reliability, a strong credit score can secure better interest rates and higher approval odds, while a lower score could lead to rejected applications or higher borrowing costs.
Factors affecting your credit score
- Repayment history: this is the most important as it affects how you manage your finances.
- Total loan amount
- Credit history length: If you don’t have credit history or if it is too short, it is difficult, if not impossible, for lenders to understand your financial history, which will affect your loan application negatively.
- Types of credit account
- New credit account
Moreover, your credit score changes as time goes by. It will also change according to your repayment history.
Things You Need to Know About Credit Score - How does your credit score affect your daily life?
1. Credit Card Application
2. Loan application, loan amount and interest rate
3. Mortgage Application
4. Others: Immigration/ Employment

Apply for a credit card through MoneySmart today!
How to check your credit score in Hong Kong
Under Credit Data Smart, you are entitled to a free consumer credit report from TransUnion every 12 months, which you can access through their mobile app or web portal. For additional one-off credit reports, you'll need to book an appointment online and visit the TransUnion office in person, at a cost of HK$280.
What is in your credit report?
Your credit report includes information listed below:
- Your basic personal information
- Your credit account information (e.g your lender, loan amount and repayment history)
- Your public records (e.g. money owed, bankruptcy and discharge of bankruptcy)
- Number of enquiries made by TransUnion’s members about your credit file for your credit application in the past 2 years and your credit score
- Lenders may review your credit report for your loan application
- The negative information on your credit report usually falls off five years after the accounts are settled, or eight if you have been bankrupted
How to improve your credit score?
Pay bills on time and in full
Avoid excessive applications within a short period of time
Reduce credit card balances
Review your credit report frequently and correct any errors

Credit Score FAQ
How is my credit score calculated?
- Your credit score is determined by several factors, including y our payment history, the amount you owe lenders, length of your credit history, the types of credit accounts you maintain, and new credit accounts are factored into your credit score.
Does having no credit history affect my credit score?
- Yes, having little or no credit history will negatively affect your credit score. Check out the benefits of having credit cards here.
How often should I check my credit score?
- Check at least once a year or before applying for major loans to ensure accuracy and track progress.
Do enquiries affect my credit scores?
- Yes, multiple credit inquiries within a short time frame can negatively impact your credit score, as this pattern may suggest financial instability.
Does having too many credit cards hurt my scores?
- No. Having multiple credit cards increases your total credit limit only, but requires careful management. To maintain a good credit score, pay all bills on time and in full. Missing payments or carrying high balances will damage your credit rating.
Does paying off a loan early help my credit score?
- No. What matters is making your loan payments on time!
Does credit score affect my mortgage application?
- Yes. A higher credit score helps you secure better interest rates.
Does my spouse’s credit score affect mine?
- No, credit scores are individual. However, joint accounts or co-signed loans can impact both parties if mismanaged.
Can I get a loan with a low credit score?
- Having poor credit doesn't disqualify you from getting loans, but be aware that these loans typically come with lower amounts and higher interest rates. Before applying, you can explore loan options available for people with low credit scores on MoneySmart.