Get you FinSocial score for free

Find out your FinSocial and get personal recommendations on it in your personal account. For free.

What is FinSocial?

FinSocial is an alternative scoring system that allows lenders get their clients Social profile

FinSocial rating depends on you social media activity. And shows how much of a reliable client you are.

Credit Score

Your credit score is one figure that can cost or save you a lot of money throughout your life. A high credit score can result in reduced interest rates, which means you will pay less for whatever line of credit you obtain. However, it is up to you, the borrower, to ensure that your credit remains solid so that you can access further borrowing possibilities if necessary.

Credit Score

Finanso services are created with love

Quick registration
Quick registration
We have tried to make a convenient registration form so that you can find out your credit score as soon as possible
Instant selection
Instant selection
We have collected all the best loan offers for you in one personal account
Quality support
Quality support
We have a real live support, no robots
Guarantee of the result
Guarantee of the result
We guarantee that we will select for you exactly the product that you are looking for
We warn of fraudulent actions with your data
We warn of fraudulent actions with your data
Keep track of your credit rating monthly with our subscription service Finanso.PRO

What are the values of a credit score?


You can be proud

With such a credit rating, it is not the banks that choose you, but you are the banks. You can look for more favorable terms on the loan, demand a reduced rate.


Standard score

Standard credit conditions are available for you, nothing special.


The conditions will be dictated by the bank

A decrease in the approved amount and an increased interest on the loan are likely.


The probability of failure is high

You can only hope for an expensive loan of a certain category (commodity, for example) for a short term or collateral lending.


Very poor rating

Banks will most likely refuse you, and you will have to look for additional financing from online lenders and pawnshops.


What is a credit score?

A credit score is often a three-digit number used by lenders to determine if you qualify for a mortgage, credit card, or other lines of credit and the interest rate paid for this credit. The score provides the lender with a picture of you as a credit risk at the time of your application.

Every person has a unique credit score. If you're married, each of you will have an individual score, and if you're a co-signer on a loan, they will evaluate both of your ratings. The riskier you look to the lender, the less likely you are to be granted credit or, if authorized, the higher the cost of that loan. In other words, borrowing money will cost you more money. Scores vary from about 300 to 850. When securing an interest rate, the higher your credit score, the better the loan terms you are likely to acquire. Your credit score is determined using information from your credit accounts. Credit-reporting firms, often known as credit bureaus, collect this information and put it into your credit reports. CIBI Information, TransUnion Philippines, and Compuscan Philippines are the three major credit reporting agencies in the Philippines.

Credit score ranges and what they mean?

In the Philippines, a credit score varies from 300 to 850. You should constantly take steps to get your credit score to 850. A better credit score boosts your chances of receiving favorable terms on personal loans and credit cards. Below are credit score ratings and the description what they stand for.


This indicates that it is either Not applicable or has No history. You will have no credit history if you have never used a credit card or taken out a loan.

350 – 549

Credit scores in this category are considered poor. It indicates that you have been late in making credit card payments or loan EMIs. With a score at this level, you will find it difficult to obtain a loan or a credit card since you are at a high risk of becoming a defaulter.

550 – 649

Credit scores in this level are deemed acceptable. It implies that you have been straining to pay bills on time. The loan's interest rate may potentially be greater.

650 – 749

You are on the right track if you have a credit score in this bracket. You should keep up your good credit habits to score even higher. Lenders will evaluate your credit application and make you an offer. However, you may still lack the negotiating strength to obtain the best loan interest rate.

750 – 850

This is a fantastic credit score. It implies that you have made on-time credit payments and have a solid payment history. Banks will issue you loans and credit cards since you have the lowest danger of becoming a defaulter.

How does a credit score work?

Credit scores have a big impact on your financial life. It is important in a lender's decision to extend your credit. For example, people with credit ratings below 640 are subprime borrowers. Lending institutions frequently charge higher interest rates on subprime mortgages than on regular ones to compensate for bearing additional risk. For borrowers with poor credit, they may additionally request a shorter payback period or a co-signer.

Assume you wish to borrow ₱11,211,900 over 30 years at a fixed rate mortgage. If your credit score is between 760 and 850, a lender may charge you 3.307% interest on the loan. This equates to a ₱49,164 monthly payment. If your credit score is in the lower area, say 620-639, lenders may charge you 4.869%, resulting in a ₱59,479 monthly premium. Although acceptable, a bad credit score would cost you ₱10,314 more each month on your mortgage. You would pay ₱3,719,155 more over the loan life than if you had the greatest credit score. Consider what you could do with an additional ₱10,314 every month.

The quantity of an initial deposit necessary to purchase a smartphone, cable service, or utilities, or to rent an apartment could also be determined by a person's credit score. And lenders routinely examine consumers' credit scores, particularly when deciding whether to impose an interest rate or credit limit on a credit card.

Why credit scores are necessary?

Lenders use credit scores to assess borrowers' creditworthiness. Your credit score affects whether or not you are authorized for credit cards, loans, mortgages, and car loans, as well as the interest rate and terms that lenders may assign you if you are approved. When you apply for a new apartment or a new policy, insurance companies, landlords, and employers may all check your credit score. A solid credit score indicates your general dependability and accountability in these circumstances.

Credit score, credit rating, and credit report

Credit score, credit rating, and credit report all seem the same - but they don't. Below, we'll examine the differences between these three important financial terms.

Credit score

As previously explained, credit scores are numerical expressions based on a level examination of a person's credit files that signify an individual's creditworthiness. A credit score is generally determined by a credit report normally obtained from credit bureaus.

Credit rating

A credit rating assesses a potential debtor's credit risk, forecasting their capacity to repay the loan and providing an implied forecast of the debtor's chance of default.

Credit report

A credit report is a record of a borrower's credit history obtained from various sources, such as banks, credit card companies, credit agencies, and governments. Credit history is documentation of a borrower's timely debt repayment.

How credit score is calculated

In the Philippines, credit scores are calculated by the Credit Information Corporation (CIC) based on numerous characteristics such as your credit history, repayment behavior, and credit type, among others. The Bangko Sentral ng Pilipinas (BSP), has granted them a license.

BDO, BPI, Citibank Philippines, HSBC, and Metrobank have also agreed to establish a body to track good and problematic borrowers. The country's banking institutions provide your credit information to these bureaus regularly. Each credit bureau has its credit scoring system and procedure.

The Credit Information Corporation (CIC) is a government-owned and regulated corporation in the Philippines that provides credit information. CIC was established in 2008 by Republic Act No. 9510, also known as the Credit Information System Act (CISA), authorized to build a comprehensive and consolidated credit information system for the gathering and transmission of fair and accurate information relating to or emerging from credit and credit-related activities of all businesses operating in the financial system.

How to check your credit score?

You can examine your personal credit report — it won't affect your score — to see what the lender is likely to see. You can also obtain a free credit score through a personal finance website. It's critical to use the same score each time you check. Otherwise, it's like keeping track of your weight on several scales — or maybe flipping between pounds and kilos. So, choose a score and develop a strategy for monitoring your credit. Changes assessed by one score are likely to be mirrored in the others.

Keep in mind that, like weight, ratings vary. Those variances will not affect your financial well-being as long as you keep it within a healthy range. By freezing your credit, you may help safeguard it. You can still use credit cards, but no one can apply for credit using your personal information because access is restricted while your credit is frozen.

The CIC provides credit reports both online and offline. To obtain their credit report, the individual must provide the necessary information and make a payment. To receive a credit report online, use the following steps:

  1. Visit the CIC's website to obtain and complete the credit report request form.

  2. Send a self-attested and scanned copy of any proof of identity (PoI) document, such as an ID card or a driver's license.

  3. Enclose a Demand Draft (DD) for the appropriate fee payable to the CIC.

  4. Mail the documents and the DD to the CIC's website address.

  5. Your score will be mailed to you.

How to read your credit report?

A credit report is a complete history of a person's credit. The credit report will contain information on your credit accounts, such as credit cards, auto loans, home loans, and any other type of credit from a registered lender. The credit report will also include payment history, credit limit and account balance, credit opening date, and loan status (close or open, paid in full, not paid in full). The report will include fresh credit inquiries, collection records, and public records for situations where an individual has filed for bankruptcy or a tax lien. A credit report might appear to be a daunting document to read, but here is a section-by-section description of how you should read your credit report:

Personal information

This component of the credit report will include information about the individual's identity, such as their name, address, current and past accounts, date of birth, and so on. If there is an inaccurate address in the report or the person's name has been misspelled, the individual should report this to the Credit Rating Agency (CRA) since this might be a symptom of false data being represented in the report or credit fraud.

Account information

This component of the credit report will provide information about the person's current and previous credit accounts. The individual should carefully review the data in this section because it is fairly extensive. You should double-check the following information:

  • Date of inauguration

  • Creditor's name

  • Current account balance

  • Maximum credit limit/balance

  • History of monthly payments

  • Account classification (installment, revolving, open)

  • Ownership of an account (individual or joint)

  • Payment standing

Public records

This component of the credit report will detail the individual's bankruptcies, tax liens obtained, and collection accounts. You should review the dates in this part since they will directly affect how long they will show on an individual's credit report and the person's credit score.


This section contains information on any inquiries made by firms about an individual's credit score. If a person asks for many lines of credit, their credit score may suffer. In most circumstances, soft inquiries by lenders for promotional purposes do not affect a person's credit score. When the request for the credit report is unrelated to the individual's credit request, a soft inquiry is produced.

Factors affecting your credit score

Here's what each component says about you:

Payment history

Payment history describes your track record of repaying obligations on schedule. This category includes payments made on credit cards, retail accounts, installment loans (such as a vehicle or school loans), finance business accounts, and mortgages. Public records and reports covering bankruptcies, foreclosures, litigation, liens, judgments, and wage attachments are also considered. A track record of timely payments of at least the minimum amount owed improves your credit score. Late or missing payments lower your credit score.

Length of credit history

The length of your credit history relates to the time you have held and used credit. The longer you have a history of appropriate credit management, the higher your credit score will be since lenders will have a greater chance of seeing your payback habit. You will seem excellent in this area if you have always paid on time.

Credit type

Credit type refers to the credit mix you have access to, which includes credit cards, retail accounts, installment loans, finance business accounts, and home loans. You do not need to have every sort of account. Instead, this component considers your many forms of credit and how you use that credit. For example, using a credit card to buy a boat might harm your credit score.

Amounts owed

Amounts owed or credit utilization displays how far in debt you are and helps determine if you can afford what you owe. Your credit score will suffer if you have huge outstanding amounts or are virtually maxed out on your credit cards. A decent rule of thumb is not to surpass 30% of a credit card's credit limit. Paying off an installment debt is seen positively. For example, if you obtained ₱1,200,000 to buy a car and paid back ₱280,000 on schedule, even if you still owe a significant amount on the initial loan, your payment pattern to date reflects prudent debt management, which improves your credit score.

New credit inquiries

New credit inquiries indicate that you have or are likely to incur additional debt. Opening a large number of credit accounts in a short period can be risky, especially for people who do not have a long credit history. When you apply for a new credit line, it qualifies as an inquiry or a hard hit. There could be many inquiries while shopping for a mortgage or a vehicle loan.

However, because you only seek one loan, such inquiries in each 14-day timeframe count as a single hard hit. On the other hand, applying for many credit cards in a short period will register as multiple hard hits and may damage your score. Soft hits, such as your personal request for your credit report, queries from lenders to give you pre-approved credit offers, and requests from employers, will not affect your credit score.

Benefits of having a good credit score

Below are some benefits of having a great credit score:

  • In auto loans. What is the best approach to receiving a low-interest vehicle loan? Having good credit, you guessed it. According to statistics, the typical monthly car loan payment for a person with a high credit score (720-850) is ₱20,000 per month at 3.88% APR. Someone with bad credit (590-619) will spend ₱25,000 per month for an identical automobile, with a 14.68% interest rate. The high-credit consumer will pay ₱70,000 in total interest, compared to ₱300,000 for the low-credit customer.

  • In mortgage approval and interest rate reduction. Mortgage lenders will use your credit to calculate interest rates and determine how much of a loan they will grant you in the first place. You can purchase a home more easily if you have good credit.

  • In rental applications. Landlords consider various things when determining if you'd be a decent renter, including proof of applicable income and references from previous landlords. However, some may elect to evaluate your credit as well. Credit scores are an excellent measure of your general financial responsibility and the possibility that you will pay your rent on time.

  • In credit card acceptance and lower interest rates. Lenders are more likely to grant bigger credit card limits at reduced interest rates if you have strong credit. Not only will you pay less interest on whatever debt you carry, but your credit score will be less impacted due to a lower total credit usage ratio.

  • In approval of a business loan with lower interest rates. You may believe that your personal and corporate credit are distinct, but this is not always the case. Small company entrepreneurs and single proprietors sometimes must rely on their personal credit history to get business financing.

  • In automobile insurance. Your credit score is one of several indicators considered by auto insurance when calculating your risk as an insured motorist. Good credit is viewed as an indication of general responsibility and might result in cheaper insurance costs.

  • In employment. Depending on the position you're looking for, some companies will retrieve your credit report and use it to assist them in deciding whether or not to hire you. They will require your permission to do so.

  • In negotiation power. Even people with high credit might face financial difficulties owing to situations beyond their control. If you lose your job but have a good credit history, your lenders will be more ready to modify the conditions of your loans, including decreasing interest rates to cut payments.

Disadvantages of having a bad credit score

We already know that before giving you a new loan, lenders want to know how likely you are to repay it. One of the key ways they make that determination is by ordering your credit score from companies like CIC. These credit-scoring models evaluate your credit worthiness based on information in your credit reports, such as loan amounts and payment history.

A poor credit score might make getting a loan, mortgage, or credit card account difficult. If you qualify, you will have to pay higher interest rates to compensate for your high degree of default risk. Many credit card issuers, for example, need a credit score between Good and Excellent, which means a CIC score of at least 670.

A credit score of at least 620 is required to purchase a home with a conventional loan. Borrowers with most credit scores as low as 500 can occasionally qualify for a mortgage. Still, you must put down at least 10% and pay mortgage insurance, which raises your overall borrowing expenses. If your credit is less than fantastic and you have a financial emergency, you may need to borrow money quickly to get through it. While credit issues make obtaining an emergency loan more difficult, you may still be able to access a range of emergency loan choices.

How to improve your credit score?

Focus on the fundamental variables that impact your credit ratings to enhance them. The important actions you must follow are quite straightforward:

  • Make at least your minimum payment, and pay off any debts on schedule. A single late payment can hurt your credit score and linger on your credit record for up to seven years. If you suspect you may miss a payment, contact your creditors as soon as possible to see if they can work with you or provide hardship solutions.

  • Maintain a low credit card balance. Your credit utilization rate, which compares the current amount and credit limit of revolving credit accounts such as credit cards, is an essential scoring element. A low credit use rate might improve your credit ratings. Individuals with great credit typically have an overall usage rate in the single digits.

  • Create accounts that will be registered to credit bureaus. If you have few checking accounts, be sure that those you open are posted to your credit report. These might be installment accounts, such as student, vehicle, house, consumer lending, or continuous accounts, including credit cards and lines of credit.

  • Apply for credit only when you need it. Applying for a new account will result in a hard inquiry, leading to a low credit score. The impact is normally modest, but applying for many types of loans or credit cards in a short period will result in a higher credit score decline.

Other factors might also influence your scores. Increasing the average age of your accounts, for example, could improve your scores. However, it is frequently a case of waiting rather than acting. Checking your credit ratings could also provide you with information on how to improve them. When you check your CIC score, you can see how you perform in each credit score area. You'll also get a short snapshot of your score profile, including what's helping and hindering your score.

How many credit bureaus are in the Philippines?

CIC, the Credit Information Corporation, launched six credit bureaus in the Philippines on March 13, 2016. Five foreign businesses and one local credit bureau were among the approved credit bureaus. They began activities as soon as they were formed. By 2016, They had completed a considerable collection of credit data.

Why do lenders deny me loans even though I have never taken one?

Lenders assess borrowers when they apply for a loan. They must analyze a potential borrower's overall rating and calculate the risks to the client's solvency. It is significantly easier to accomplish this if a person has previously received debts. The report includes timely and late payments, debt amounts, loans, bank refusals, and more. Your financial statement will be 0 if you have never used a loan or issued a credit card to yourself. In this instance, it is extremely difficult for the bank to quantify the risks, and in such cases, they frequently deny them.

If you intend to apply for a consumer loan or a mortgage, you should first apply for a credit card or a small commodities loan. Use it for 6-8 months, making all required payments on time but not ahead of schedule. Early repayment also does not indicate the client's dependability on banks. They must benefit from your loan. Thus this conduct signals the danger of lost earnings. Close a credit card after six months or a year of active usage and verify that it has been canceled at the bank. You can apply for a big consumer loan or mortgage because your information will be in the CIC.

Is there a limit to the number of requests for credit score access?

The investigation of credit scores has no bounds. You can check your credit score as many times as necessary. The credit score query is considered a soft check, whereas only hard checks affect your credit score.

Will having many credit cards hurt my credit score?

Your credit history determines this. If you have many credit cards with larger credit limits and are under- or over-utilizing them, this might have a detrimental credit scores influence.

Is it possible to have information removed from a credit report?

No information can be removed from your credit report unless it is erroneous. The credit report reveals information about your credit history and lending eligibility. Most lenders rely heavily on credit records to analyze loan risks.

Can Credit Information Companies (CICs) update or erase my credit information?

No, the CIC gets data from numerous financial institutions but does not alter it. The CIC collects information on an individual's credit transactions and payment history.

Can I have several credit reports?

Yes, credit reports include your whole banking history and are used to determine your reliability, which is represented by your credit score. Once a year, you can acquire a free credit report from each credit rating company. You can also request to receive all of your credit reports at once.

What information does not appear on a credit report?

A credit report will not include any information about your checking or savings accounts. In addition, the credit report does not include information about criminal records, medical history, lifestyle, or other characteristics.

How long does the information on a credit report last?

This will be determined by several elements, including the inclusion of hard inquiries, payment data, credit card, and loan applications. Your credit report will be updated as soon as any changes are discovered. The data is collected every month for the adjustments to be made. If you find out an inaccuracy on your credit report, you should get it rectified by the assessor.