When you apply for credit, lenders determine your credit risk by examining your credit score. This is based on your payment history, the amount of money you owe, the length of your credit history and the number of recently opened credit accounts.
In the UAE, you can get your credit report and score from Al Etihad Credit Bureau (AECB) website, aecb.gov.ae or by downloading the app, available in Google Play and Apple Store.
Your scores help lenders determine the credit risk associated with loaning you money. In the UAE, scores range between 300 and 900. The higher it is, the lower your perceived risk to a lender.
10 Ways to Keep Your Credit Score Strong
- Complete credit applications carefully and accurately.
- Use your credit cards responsibly — don’t let them reach their limit or spend beyond your means.
- Choose your credit cards and loans wisely and make sure you understand all of the terms and features.
- Pay your credit card balance in full each month, but at least make the minimum payment by the due date.
- Always pay bills on time.
- If you have problems paying your credit card balance or loan installments, contact your creditors. In many cases, they will work with you to figure out a payment plan.
- If you move, let your creditors know your new address as soon as possible to avoid losing bills or receiving them late.
- If your credit card is lost or stolen, report it to the issuer immediately.
- Check your credit report and score periodically. If you spot any inaccuracies, immediately report them to your banks to ensure your score is calculated correctly. In the UAE, you can get your score from Al Etihad Credit Bureau (AECB) website, aecb.gov.ae or by downloading the app, available in Google Play and Apple Store.
- Establish a consistent work history.