24 November 2023

Written by Alwin Goh

Ever wondered what affects your loan applications? Or why some of your credit card applications were rejected? 

It’s likely because of your credit score.

A bad credit score can affect your applications for personal loans and credit cards.

But what’s a credit score? How do you check it, and how can you improve your credit score?

Here’s all you need to know about credit scores in Singapore, and how to clear bad credit history.

What’s A Credit Score?

A credit score is a number indicating how likely individuals are going to repay their debts and default on payment. Your credit bureau report details your credit payment history from different credit providers. In Singapore, credit score is called “credit grade”.

Credit scores are done by independent rating companies, which assess consumers’ creditworthiness, providing the information to financial institutions, such as banks and licensed moneylenders.

There are 2 institutions that provide credit scores in Singapore: the Credit Bureau Singapore (CBS) and the Moneylenders Credit Bureau (MLCB).

Banks and finance companies get their customers’ credit scores from the CBS, while licensed moneylenders get them from the MLCB. 

But, how to check your credit score in Singapore?

To check your credit score, you can either go to CBS or MLCB. It’s always good to check your credit score before applying for loans and credit cards.

You might also want to increase your credit score as well! Another perk of having a higher credit score is that it can speed up your loan approval.

What Affects Your Credit Score?

There are a few factors that can affect your credit score. These are what the Credit Bureau Singapore considers when determining your credit score. 

1. Utilisation Pattern

Utilisation pattern is the usage pattern of the loan facility. It tracks how often you’ve been spending your money.

If you’ve taken a lot of loans suddenly, banks might be concerned over this sudden change in usage pattern. 

This may affect your credit score; financial institutions might be more reluctant to approve your loan and credit card applications. 

2. Recent Credit

The Credit Bureau Singapore also considers your recent account activity when doing up your credit report. 

If you’re looking to apply for new promotions like cashback from banks, it might be wise to not apply all of them at once. Banks consider the number of credit facilities you have as liabilities. They might think that you’re overextending yourself if you apply for multiple accounts at one time.

This can cause your credit score to drop.

3. Account Delinquency Data

Account delinquency data indicates how reliable you are as a customer.

Have you missed the deadline payment for your credit card before, or made late or partial payments?

These delinquency behaviours will be recorded by the Credit Bureau Singapore. It signals to financial institutions that you aren’t a very reliable or responsible customer.

This reduces their confidence in your ability to repay future payments on time. And that will cause your credit score to drop.

4. Credit Account History

How long have you been with the bank as a loyal customer?

Financial institutions will look at your history to determine if you’re a responsible borrower. 

If you’ve been a reliable and loyal customer for a long time, and always made payments on time and in full, it’ll boost your credit history.

This also increases your credit score. 

5. Available Credit

How much credit do you have?

Having too many credit cards (and accounts with different banks) will affect your credit score.

You can consider having only a few credit cards to improve your score.

6. Enquiry Activity

Did you apply for many credit cards?

Every time you apply for a credit card, the financial institution will make an inquiry into your credit score.

This request will be recorded in the system.

Having too many inquiries might signal to banks that you’re currently facing financial difficulties, or that you could be taking on more debt than you can handle.

This can cause your credit score to drop, reducing your creditworthiness.

What else can bring down your credit score? Learn more about it here. 

Smiling man in glasses working on laptop
Applying for too many credit accounts at one go can affect your credit score

How Does A Bad Credit Score Affect You?

A bad credit score can affect your future borrowings. The lower your credit score is, the less you can borrow for loans—be it personal loans, business loans, or education loans.

You may even face trouble getting a credit card.

It can affect your HDB loan application too. If you’re not a full-time employee with regular CPF contributions, this will be even more important, since HDB will look at your credit score to ensure that you can pay back your loan.

Sometimes, prospective employers will also ask to see your credit score, especially in the finance industry. 

A healthy credit score signals that you are responsible for money.

To prevent facing such challenges in the future when you want to take out a loan (be it from banks, licensed moneylenders, or HDB) or apply for a new credit card, you should start improving your credit score.

How To Improve Credit Scores in Singapore?

Even if you have a bad credit score now, don’t worry! The Credit Bureau Singapore will record promptness of payment over 12 months. 

That means that you can “erase” a bad credit history if you repay your borrowings on time for a year. 

Unsure on how to clear your bad credit history in Singapore? Here are 5 ways to improve your credit score over time.

Infographic on 5 ways to improve credit score in Singapore
Follow these 5 ways to improve your credit score in Singapore

1. Repay Loans On Time

Do it before you receive a letter reminding you of late payment.

Your credit score would have dropped by the time you receive a second warning letter. Even if the bank waives late payment fees, your credit score would still have taken a hit.

For credit cards, if you can’t repay everything at one go, pay off the minimum first before the billing cycle ends.

But it’s generally still better to pay off your credit card bills fully every month to save on interest repayments.

Sometimes, you might find that you’re not able to pay back your mortgages or personal loans on time. Emergencies may crop up that might have used up your funds. 

If you think you’re going to miss payments, inform your lender early. You can also ask to speak to a credit counsellor. The bank or licensed moneylender will provide an alternative repayment scheme through debt restructuring as well. 

While this will still affect your credit rating, it’ll do less damage than late repayments (or no repayments at all)—especially if the late repayments happen frequently.

2. Never Default On Payments

Do not default on a loan! This will appear on your credit report indefinitely. 

It’s arguably the most damaging action you can do to your credit score. Even one default can be enough to prevent you from getting a credit card, personal loan, or home loan.

Choose to restructure your debt and seek credit counselling if you cannot meet the repayment requirement. That’s way better than defaulting on a loan.

If you default on a payment but actually have the money to repay the loan, you can get into legal trouble.

3. Limit the Number Of Open Credit Facilities

Having a lot of open credit facilities is bound to confuse you. With so many different billing cycles, you might miss out on payments by accident.

Try to keep your credit facilities to no more than 4 or 5. It’s also a good practice to close off credit cards that are no longer in use to save on the annual fee.

For personal lines of credit, 1 is usually enough. If you find a credit line with a lower interest rate, switch to the cheaper one and remember to close your old one! 

4. Avoid Applying For Unnecessary Accounts

If you have too many credit accounts, it becomes hard to keep track of your borrowings. 

Avoid applying for unnecessary accounts to remove excess liability, so that you can manage your finances better.  

Maintaining your credit score will be easier this way too!

5. Avoid Taking Multiple Loans Within A Short Time Frame

Taking on multiple loans at once signals that you’re in financial difficulty.

To avoid being labelled as “credit hungry”, avoid having multiple loans within a short time frame. Instead, spread out your applications. If you really need to, wait for a month between your credit card application, and you’re good to go.

This will both increase your chances of loan approval and prevent your credit score from dropping.

You can also use online loan comparison tools to find the offers with the lowest interest rate. This will help prevent you from applying for too many loans at once. 

Applying for a personal loan soon? Be sure to consider these 4 things before applying for one. 

Here’s a summary of some dos and don’ts you should keep in mind:

DOs DON’Ts
Pay on time Make late payments
Make full payments Miss the billing cycle
Inform the banks if you can’t pay on time Default on payments
Close off unused credit cards to maintain less than 5 open credit facilities Have more than 5 credit cards
Wait for a month between each loan/credit card application Apply for too many loans/credit cards at once
Restructure and close unnecessary accounts Apply for unnecessary accounts

 

Need some emergency cash but have a bad credit score? Consider approaching licensed moneylenders, which are usually less stringent when approving loan applications. 

Licensed moneylenders such as Crawfort are more likely to give you a loan even if you have a bad credit score. This is because when they evaluate loan applications, they look more into income and outstanding loans, among other criteria. 

If you’re also thinking of getting a fast cash loan, be sure to check out our ultimate guide on taking the best personal loan in Singapore.

Find out more here and apply for a loan with Crawfort today!

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What To Do If I’m Unable To Pay My Credit Card Bill?

Encountering financial difficulties, whether due to unexpected expenses or a job loss, can lead to challenges in paying off credit card bills. This might prompt the question: “What can I do if I’m unable to pay my credit card bill?” Failure to clear credit card bills can result in escalating debt. It’s crucial to understand […]

Personal Loan
Tuition Fee Loan In Singapore: What Is It And How Does It Work?

Despite the government’s provision of a tuition fee grant, the cost of tuition continues to rise annually. In fact the average annual education inflation rate in Singapore was about 2.86% for a 20-year period (2002-2022). Moreover, it was reported that the school fees will increase from 2024 to 2026 for PR and international students. So, […]

Personal Loan
What It Means To Be A Loan Guarantor in Singapore?

Certain types of loans in Singapore need guarantors since they carry higher risk of default for lenders. For instance, car loans, education loans and business loans, in place of collateral. It can be a requirement when applying for a loan in Singapore. Therefore, before you sign-up to be a guarantor of your friend or your […]

Blogs and Opinions
What Happens When You File For Bankruptcy In Singapore?

From January 2020 to May 2020, there have been 1,481 applications for bankruptcy in Singapore and 404 orders made — a significant number considering the short 5 months span.  Bankruptcy, in short, is when you owe more than you can afford to pay. There are also a number of technicalities involved. Filing for bankruptcy in […]

Blogs and Opinions
10 Easiest Ways To Get A Credit Card Approved in Singapore

Owning a credit card in Singapore has a lot of perks. It offers a convenient way to purchase online or in person. Even if you’re short on cash for the month, you can still purchase big-ticket items or gadgets that you want since it allows you to buy now and pay later. Moreover, some of […]

Blogs and Opinions
Saving Money In Singapore: Easy Ways To Grow Your Savings

If you often find yourself living paycheck to paycheck despite your best budgeting efforts, you’re not alone in this situation. Overspending is a common challenge that many individuals face. No matter how meticulously you track your expenses, the temptation of impulse buying might occasionally mislead us. The fact is that since we are all imperfect, we […]

Personal Loan
5 Reasons Why Your Personal Loan Application In Singapore Was Rejected

Perhaps it’s a time right now when you require extra financial support for your needs—for an emergency, for a dream vacation for you and your partner, or even for a plan to move forward and venture out of your comfort zone. However good your reasons may be, you may have faced problems having your personal […]

Personal Loan
Guide to Peer to Peer (P2P) Lending in Singapore

Peer-to-peer lending or P2P lending is a part of financial innovation that originated in the UK in 2005. It has become an investment and lending platform that has reached major financial markets worldwide, and Singapore is no stranger to P2P lending. It has adopted this FinTech tool for borrowing and lending money. In this guide, […]

Personal Loan
How Do Home Renovation Loans Work In Singapore?

Considering a home renovation project this year, but falling short on your savings? You might consider getting a home renovation loan. Without sacrificing your objectives, this type of loan is designed to assist you in funding your home improvements. But, how do home renovation loans in Singapore work, and what should you take into account? […]

Personal Loan
Can You Get A Personal Loan Without Income Proof In Singapore?

If you’re in a financial jam, you want to get a personal loan as quickly as possible. But what if you don’t have income proof? In this article, we share with you some useful tips on how you can get a personal loan in Singapore without standard income proof like payslips.  But before we dive […]

Personal Loan
Are You Eligible For A Personal Loan In Singapore?

When we’re short on cash, most of us will consider borrowing from friends and family members. However, if you don’t want to trouble them, how about taking a personal loan instead? A personal loan is a lump sum of money borrowed from a bank or licensed money lender. You’ll need to pay it back over […]

Blogs and Opinions
When Should You Consider Taking A Personal Loan Over A Renovation Loan In Singapore?

Now that you’ve collected the keys to your new home and browsed countless web pages for decor inspiration, it’s time for the next step. Imagine, after a long day at work, going back to a home that’s furnished and personalised just the way you like it. Isn’t that exciting? That is until you realise the […]

Personal Loan
Personal Loan Broker In Singapore: What You Need To Know

While many people still go directly to their local bank to seek financial assistance, many people have turned to personal loan brokers for a more customised and efficient approach to borrowing money. This proves that personal loans have gone beyond the confines of traditional banks. In this article, we will discuss personal loan brokers in […]

Personal Loan
Emergency Payday Loans from Direct Lenders: A Comprehensive Guide

Life is full of challenges and unfortunately facing sudden financial trouble is part of it. You may be facing a sudden medical emergency, car repair or the need to replace a broken appliance which may require quick cash to cover these emergencies. In these unexpected events having an emergency payday loan from a direct lender […]

Personal Loan
What Happens if You Don’t Repay Your Personal Loan in Singapore?

If you’re using a personal loan in Singapore for a big ticket expense, home renovation or to fund some emergencies, it’s probably because your savings is not enough to cover it. And while repaying the loan is usually the last thing on your mind when you take out the loan in the first place, missing […]

Personal Loan
Should You Take A Personal Loan In Singapore For Home Renovation?

Whether you want to increase your property value or simply enhance the aesthetics of your house, you need a home renovation. However, loan renovations can be costly and you may not be able to do up your dream house should you lack funds. Now, the good news is that you have alternative options to help […]

Personal Loan
How To Pay Off Multiple Payday Loans

When your bills and emergency expenses pile up, it can be hard to resist the temptation of payday loans. Although these loans can be a helpful remedy for tough times, they also have the potential to trap you in overwhelming debt. Thankfully, there are tons of ways to help you get back on track financially. […]

Personal Loan
How To Clear Credit Card Debt With A Personal Loan In Singapore

Credit cards have a lot of benefits. Not only do they boost your spending power, but they’re also very convenient since you don’t need to keep drawing and carrying cash. However, for the convenience they offer, you run the risk of incurring high interest and accumulating debt quickly. What should you do when you find […]

Blogs and Opinions
How To Pay My Credit Card Bills (DBS, UOB, OCBC And Other Banks)?

Today, you can take advantage of various enticing credit card deals that offer benefits like bonus miles and up to 10% cashback. These deals can maximise your financial benefits and transform each transaction into a rewarding experience. Despite these benefits, you must pay your credit card account on time. Just like with other types of […]

Personal Loan
Personal Loan Calculator In Singapore: Why You Should Use One And The Benefits

Personal loans are an alternative for big-ticket purchases or immediate financial emergencies. But before taking up a loan, most of us would be curious as to how much everything would cost in total. One way to find out is to use a personal loan calculator in Singapore to work out the sum.  So, what are […]

Personal Loan
What Are The Alternatives To Personal Loans In Singapore For The Unemployed?

When we need cash, some of us consider taking personal loans to get through the tough period. Unfortunately, it can be difficult to get a personal loan in Singapore when you’re unemployed.  Don’t worry, though. There are alternatives to personal loans in Singapore that you can take up, even if you’re unemployed. This article is […]

Blogs and Opinions
How Does Credit Counselling And Debt Management Programme Work?

Have you ever found yourself struggling in debt, with no one to turn to, and all hope seems lost? In those situations, where can you get help? Well, there’s an answer for that: credit counselling. It’s alright if you don’t really know what it is. Not many Singaporeans are familiar with the concept of credit […]

Personal Loan
Total Debt Servicing Ratio (TDSR): What Is It and How It Affects Your Personal Loan Application?

One major factor that makes a huge difference in whether you get approved for a personal loan is your total debt servicing ratio. If you haven’t heard this concept before, it might seem complicated, but don’t let it scare you. To put it simply, your TDSR is just a way to figure out if you […]

Blogs and Opinions
Credit Card & Unsecured Loans Credit Limit In Singapore: All You Need To Know About Increasing It

Are you cash strapped and in need of extra credit for your big-ticket purchases? Are you considering increasing the credit limit on your credit card or unsecured loan but aren’t sure how to? In this article, we will share with you everything you need to know about increasing your credit card limit in Singapore. We […]

Blogs and Opinions
Licensed Money Lender Vs A Pawn Shop In Singapore: What’s The Difference?

Something sudden happens and you find yourself in urgent need of cash. You might be considering borrowing from the bank, but they might take a long time to approve your loan. So, you start looking for alternatives to get a fast loan in Singapore. When it comes to getting quick cash in Singapore, 2 options […]

Blogs and Opinions
How Much Can I Borrow From A Money Lender & What I Need To Note?

The cost of living is high in Singapore. There are times when we inevitably run into money problems and need cash to tide over difficult periods. For some, it could be money needed to last until their next payday, more money for their wedding, home renovation, or for a financial emergency. According to the Credit […]

Personal Loan
Loan Scams In Singapore: How to Protect Yourself from Personal Loan Scams

As of 14 October, the police warned the public about the return of loan scams involving fake emails from banks and government agencies in Singapore.  Between 1 September and 4 October 2021, there were 17 victims losing a total of over $130,000. While the Police have suggested ways to help combat scams, it is important […]

Personal Loan
Financing Your Home Renovation: Personal Loans In Singapore, Renovation Loans, And More

Just collected the keys to your new house? Buying a house is most likely the largest purchase in your life. After getting the keys, you’ll want to renovate it to turn it into your dream home. In this article, we look at renovation costs, what affects it, as well as financing options like a renovation […]

Blogs and Opinions
Effective Interest Rate: A Simple Guide (EIR) For Borrowers

Whether you’ve taken a personal loan before or not, interest rate is a term you’re sure to have heard of. But did you know there are usually 2 types of interest rates when you take out a loan? There’s the advertised rate, and the effective interest rate (EIR). So why are there 2 interest rates […]

Personal Loan
Multiple Personal Loans: Can You Take Two Personal Loans At The Same Time?

Even after taking a personal loan, unexpected financial events can force you to take another one, especially during this Covid-19 pandemic. And, you may be asking if it is possible to take two personal loans? A personal loan is an unsecured amount of money. It is referred to as unsecured because it does not require collateral. The […]

Blogs and Opinions
Credit Counselling In Singapore: All You Need To Know

Not many Singaporeans know about credit counselling. Mention “credit counselling” to people, and you’re more likely to be met with blank stares. Explain that it’s about discussing debt management with a financial counsellor, and they might reel away in shock. The topic on debts is often so private that most people shy away from the […]

Personal Loan
How To Get The Best Personal Loan In Singapore To Help Make Your Dream Vacation A Reality

Are you planning your next dream vacation as more countries now allow tourists for the first time in two years since the start of the COVID-19 pandemic? Did you then realise that you may need extra cash as your travel funds are insufficient? If so, you’ve come to the right place! Read on. You will learn […]

Personal Loan
6 Tips To Avoid Being Rejected For A Personal Loan Application In Singapore

It’s never a nice feeling being rejected for anything, especially when it comes to a personal loan application. If you’ve ever been in this position before, you will know how discouraging this can be. So, why are personal loan applications in Singapore rejected? And what can you do to avoid it happening to you? Keep […]

Media
Singapore Fintech Startup Capital C Scores $54m in Fresh Funding

DealStreetAsia Capital C Corporation, a Singapore-based financial services provider, has announced raising S$74 million ($54 million) in a mix of pre-seed equity and debt funding rounds. The fundraising exercise was participated by Phillip Capital, Luminor Capital, Paradise Group, Citystate Group, family offices, and ultra-high-net-worth individuals, according to the announcement. With the fresh funding, the company, […]

Media
Singapore’s Capital C Corporation Bags SGD74 Million in Funding

Finextra Capital C Corporation, a Singapore-based financial services provider, bags SGD$74 Million in their recent fundraising exercise with PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, various family offices and Ultra-High-Networth-Individuals. The fresh injection of funds will serve to fuel their lending capabilities and expand their digital financial platform offerings to provide a seamless experience and […]

Personal Loan
When Can Personal Loans In Singapore Be A Better Option Than Credit Cards?

Personal loans and credit cards are two popular credit options in Singapore. For instance, if you are short of cash to pay your monthly bills, getting a personal loan in Singapore or paying through your credit card can be a viable option. Both provide easy access to money when in need but getting a personal loan can […]

Company News
Capital C Corporation in DocuSign Momentum 2022

Celebrates the achievements of 10 businessmen and women who prove to have what it takes to break boundaries and emerge as winners of Singapore’s Entrepreneur of the Year Awards (EYA).

Personal Loan
Should You Take Out A Personal Loan in Singapore For The Holidays?

Have you been thinking of taking a break for this coming holiday season? Are you also considering rewarding yourself or your family with a memorable holiday gift? As the country eases the travel restrictions especially to fully vaccinated Singaporean residents, traveling to your dream destinations is now possible. Regardless of the plans you have for […]

Personal Loan
How To Manage Your Personal Loan In Singapore More Effectively

Taking a personal loan in Singapore from licensed moneylenders can help you manage your unexpected expenses, such as medical bills. Moreover, it can help you in fulfilling your life goals. While it can make a huge difference in managing your financial situation when it matters most, it is not a permanent solution. Although you are free to use […]

Personal Loan
Why Taking A Personal Loan In Singapore Is The Best Option For Emergency Expenses?

In the time of a pandemic (like now), you need to be prepared for emergency expenses. However, if you are someone who does not have savings or is hesitant to borrow money from friends or family, then you could be in trouble when an emergency arises. But, don’t worry, getting a personal loan in Singapore to tide […]

Personal Loan
Top 6 Life Goals You Can Achieve With Singapore Personal Loan For 2022

Having sufficient money can help you achieve your New Year’s goals.  However, if you don’t have enough cash, taking a personal loan in Singapore is something worth considering. With a personal loan, you can get a relatively substantial sum of fast cash, and this is useful if you already have big goals and plans for New Year. […]

Personal Loan
Licensed Moneylenders Vs Banks: How Long Does It Take To Get A Personal Loan In Singapore?

If you are currently in need of quick cash for emergencies or holiday spending, you might consider taking a personal loan either from a licensed moneylender or bank. You might wonder how long it takes to get a personal loan from these credit facilities. How fast does it take to get your loan application approved with a licensed […]

Personal Loan
Is It A Good Idea To Take Out A Personal Loan In Singapore To Invest?

According to the latest Finder’s survey, nearly 1 in 3 (that’s 32% or 928,000 Singaporeans) have taken out a personal loan in the past 12 months. Some of the key reasons why people are taking out personal loans in Singapore include, covering daily expenses, helping out a friend or family, and financing a mortgage.  But […]

Company News
Crawfort Is Honoured To Be Awarded The Singapore Quality Class Certification

Crawfort is honoured to be awarded Singapore Quality Class certification. This certification, by Enterprise Singapore, recognises organisations that have attained robust business fundamentals and met standards for good business performance based on the internationally benchmarked Business Excellence Framework. This certification serves as a recognition of our commendable management capabilities and commitment towards continuous improvement and sustainable […]

Personal Loan
6 Must-Know Tips To Get The Best Personal Loan In Singapore

You might be looking for a personal loan to help you cover some financial needs. But with the overwhelming amount of loan products and choices out there, how do you find the best personal loan in Singapore?  Financial institutions in Singapore offer loan discounts and promotions periodically; it’s important that you learn how to compare […]

Blogs and Opinions
7 Things You Should Know About Loan Sharks In Singapore

Commonly known as “ah longs” in Singapore or unlicensed moneylenders, a loan shark is a person or entity that lends fast and easy money at sky-high interest rates. These interest rates are typically far above any established legal rates.  They are infamous for their harassment tactics and threats of violence as a means of forcing […]

Personal Loan
5 Tips On Taking A Personal Loan In Singapore When You’re Unemployed

Life is always unpredictable, and there may be times when you need to take up a loan to tide through unexpected financial difficulties. It could be medical emergencies, debts, bills to pay, or simply urgent cash needs. And if you’re unemployed, getting a personal loan in Singapore can be difficult. In Singapore, banks and financial […]

Personal Loan
Scam Alert: Fake Site!

RED ALERT: crawforts.com is a SCAM site posing as us. Apart from using a web URL that bears close resemblance to ours, this website also displayed our previous brand logo and company information that are stolen from us. Please be informed that this site has no relations to us and are likely to be operated […]

Blogs and Opinions
3 Reasons Why You Should Never Borrow From A Loan Shark In Singapore

If you’ve ever found yourself in a tight financial spot and have considered borrowing from a loan shark in Singapore, think twice. There are many risks involved when you borrow money from an unlicensed money lender like a loan shark. This includes high processing fees and interest rates, and continuous harassment to you and your […]

Personal Loan
5 Tips For Short-Term Course Remote Learning And How A Personal Loan In Singapore Can Help

Maybe you’ve already been sitting on the idea of taking the plunge into the world of short-term courses. Whether it’s learning a new design software or discovering a different industry, short-term courses are all the rage for both working professionals and students alike to upgrade their skills. But maybe you’re hesitant because of many factors, […]

Personal Loan
Loan Scams – Do Not Be A Victim

Loan scams are on the rise now. Please stay vigilant and beware of scammers who may approach you with attractive loan offers through calls, SMSes or any other media forms. Don’t be impulsive and fall into their traps. Learn to differentiate between a licensed and unlicensed money lender in Singapore. Crawfort Finance will only advertise […]

Blogs and Opinions
3 Alternatives To Filing For Bankruptcy In Singapore

Filing for bankruptcy in Singapore can stir up feelings of stress, anxiety, depression, and failure. Let’s face it, the process of filing for bankruptcy is also a tedious affair combined with the social stigma that comes with it. So before you decide to file for bankruptcy, why not consider other alternatives that are more desirable […]

Personal Loan
The 2 Types Of Personal Loans In Singapore To Consolidate Your Debt 

Besides being symbolic of financial independence and adulting, owning a credit card is a great way to earn rewards and cashback on your spending as long as you pay your bills dutifully every month. But what if you’re unable to pay your bills on time? With sky-high interest rates and a few late payment fees, […]

Blogs and Opinions
10 Travelling Tips For Your Next Trip And How A Personal Loan In Singapore Can Help

In a world where everything has its price, your dream of travelling the world can seem far and out of reach. Especially when you have daily expenses to account for and pressing bills to pay. Travelling can be expensive. However, the experiences you gain and memories forged from travelling is oftentimes invaluable. Though travelling can […]

Personal Loan
Should You Take A Personal Loan In Singapore For Your Vacation?

Have you been toying with the idea of taking a good break for a while? And when we mean a break, we mean a good, quality break that’s going to give you a good reset. Maybe it’s been something on your mind for a while now but you haven’t gotten around to it because it’s […]

Personal Loan
Why You Should Upgrade Your Skills And How A Personal Loan In Singapore Can Help

According to Robert Kiyosaki, a successful businessman and author of Rich Dad Poor Dad, continuous learning is the key to getting rich. If you want to be successful in life, you need to have the right attitude, the right mentality, and seek continuous learning. Even after graduating, you should continue to upgrade your skills, which […]

Personal Loan
3 Ways To Reduce Your Wedding Costs And How Getting A Personal Loan In Singapore Can Help

Your wedding day is undoubtedly one of the most important days of your life. If you’ve been saving diligently after meeting “the one”, kudos for planning in advance! However, it may be the case that your savings still aren’t enough to cover the costs of your dream wedding.  To help you along on your journey, […]

Personal Loan
2 Types Of Personal Loans In Singapore To Consider In Times of Emergency

It’s always good when we receive a heads up before something happens, so that we can prepare for it.  But that doesn’t happen all the time. You can never predict when something unexpected crops up, and when you need extra cash urgently. In such times, a personal loan can be a viable option.  Types Of […]

Personal Loan
When Should You Take Out A Personal Loan In Singapore To Upgrade Your Skills?

We’re often told to continuously upgrade our skills because we need to stay relevant in times of changing needs. And one way to do that is through taking up courses. Plus, doing so can be helpful when we choose to switch careers. But taking up courses in Singapore can be quite expensive. For instance, a […]

Blogs and Opinions
8 Reasons Why You Have Low Credit Score In Singapore

Looking to purchase a home, car, or paying for that dream wedding? High costs of living in Singapore can make that hard to achieve. In fact, taking on personal loans to make those dreams a reality is not uncommon. Before applying for a loan, you should look at a few key considerations banks and financial […]

Blogs and Opinions
7 Things You Didn’t Know About Licensed Money Lenders In Singapore

Getting married, buying a home, or furthering your studies are major milestones in life. And these milestones usually come at a hefty price. Remaining debt-free becomes increasingly difficult as you move up the different stages of life; the last thing you want is to be trapped in a financial emergency. Turning to loved ones or […]

Blogs and Opinions
Licensed Money Lenders In Singapore: What Are Your Options If You Can’t Repay Your Loan?

Some of us encounter financial difficulties at different junctures in life. In such situations, borrowing from lenders like banks or licensed money lenders in Singapore would be among the available options to help get you back on your feet. Whether you borrow from a bank or licensed money lender, you’re of course obligated to make […]

Blogs and Opinions
4 Things To Consider When Borrowing From A Licensed Money Lender In Singapore

Whether it’s taking out a loan to renovate your brand new home or financing an unexpected medical emergency, there may come a time when you need some financial assistance. Taking out a personal loan to fund such expenses is a common option.  As a borrower, you’re usually faced with 2 main options: a bank or […]

Company News
Leveraging On Digitalisation To Simplify Loan Application

Singapore — (19 May 2020) — Staying ahead of the digital economy, we at Crawfort, the consumer loan subsidiary of Capital C Corporation, have incorporated digitalisation strategy to introduce a new loan platform with an improved user interface and experience on our website, alongside a new brand name and logo. In line with our goal […]

Blogs and Opinions
6 Things A Licensed Money Lender In Singapore Can’t Do When Collecting Debts

Getting a loan from a money lender in Singapore might be nerve wracking for some. When most think of money lending, they think of a pig’s head hanging by their door or that ‘O$P$’ red paint on the corridor.  However, loan sharks and licensed money lenders in Singapore operate very differently.  Let us look at […]

Personal Loan
6 Reasons Why You May Need A Personal Loan In Singapore

Have you ever found yourself stuck against a wall financially? When you have so many bills to pay, then suddenly, you or someone you know gets into an accident or gets sick. You are then overwhelmed with bills and the debt you need to pay, and the money you’ve saved or earned just isn’t enough […]

Personal Loan
Personal Loans In Singapore: What To Consider When Applying

Personal loans can seem like a mystery. What are they? When should you take them? How do you go about applying for personal loans in Singapore? A personal loan is a lump sum of money borrowed from a bank or licensed money lender, which you have to pay back in instalments (fixed payments) over a […]

Blogs and Opinions
Licensed Money Lender in Singapore Vs Bank: Key Differences

Getting married and buying a home are some of the most significant milestones and expenses you’ll incur when adulting. The last thing you want is to be strapped for cash. When that happens, most people think of borrowing money to tide them through the rough patch. You’re usually faced with two choices – should I […]

Personal Loan
Top 5 Personal Loan in Singapore Myths Busted

It’s pretty common to take up a car loan and/or a housing loan, especially since it’s costly to own a car and a home in Singapore. But when it comes to taking a personal loan in Singapore, it’s usually perceived as the result of poor financial management.  Depending on the circumstances, taking a personal loan […]

Company News
Advisory on COVID-2019

In light of the COVID-19 situation, Crawfort Singapore has stepped up and implemented additional precautionary measures at our outlet.

Media
单枪匹马赴菲“拓荒”寻商机

一般人对菲律宾的印象,总停留在治安欠佳和交通拥堵。然而,不能忽视的是,菲律宾有上亿人口,而近年经济增长也保持强劲,可谓商机处处。Crawfort正是看到了这个商机,希望能够为那些懂得数据科技,却无法充分从传统金融机构获取服务的消费者提供服务。

Company News
Crawfort Is Awarded
ISO 9001 : 2015

Crawfort is proud to be awarded the TUV ISO 9001 mark of quality, and will continue to provide excellent quality of services.

Company News
Crawfort Is Honoured To Be Awarded The Singapore Prestige Brand Award (SPBA) 2019

We are pleased to announce that Crawfort has been awarded The Singapore Prestige Brand Award (SPBA) 2019 – Promising Brands. Into its 18th year, SPBA seeks to recognise and honour distinguished brands for their outstanding achievements in branding. Our team went through rigorous rounds of judging by stellar industry professionals who evaluated us based on […]

Media
10 Business Leaders Recognised As Entrepreneur Of The Year

From training aspiring pilots to lending money, 10 local entrepreneurs received the Entrepreneur of the Year Award (EYA) 2019.

Media
The Breakfast Huddle

Find out how we can help F&B SMEs scale their businesses.

Media
CEO Conversation: Transforming Into A Digital Financial Services Provider

Find out how our Group is leveraging technology to serve underbanked customers in the region.

Media
The Case For Alternative Lending

In the last decade, we have witnessed rapid growth in the alternative lending space, with the creation of new business models opening up the range of alternative lending products available.

Media
How Fintech Is Driving Innovative Lending?

In Singapore, SMEs account for around two-thirds of the workforce and a large chunk of GDP growth. And if these firms can’t get funding, their failure to thrive has a dampening effect on the larger economy.

Company News
Crawfort Joins Singapore’s Fastest Growing Businesses

Crawfort rewrites the rules when it comes to moneylending solutions.

Media
Crawfort: Breaking Stereotypes Through Innovation

Innovative business Crawfort is rewriting the rules when it comes to moneylending solutions

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