Touch n Go Users Can Get Free Credit Report With CTOS

Touch ‘n Go Group is working with CTOS Digital is offering its wallet customers a free MyCTOS credit report with CCRIS.

With the new add-on service, the TNG wallet users will be able to check their credit score and know their risk levels, they will be now able to keep a tab on their financial situation at just a swipe of the finger. The collaboration will also see CTOS joining Touch ‘n Go eWallet’s ecosystem through the latter’s mini programme initiative, where eWallet users will now have access to tools to facilitate credit health self-checks, obtain educational articles about credit and credit reporting.

“This really is a market-first, an initiative about empowering all Malaysians, and we’re hoping to educate everyone that understanding, and having access to one’s own credit health is necessary, especially in developing countries and growing economies. We’re extremely pleased to find a like-minded partner in CTOS, and we hope that individuals access the facility we are making available,” said Effendy Shahul Hamid, Group Chief Executive Officer, Touch ‘n Go Group.    

“We also hope that through this initiative, people will find the topic of credit reports and credit health ratings less scary, and in turn use this as a platform to understand the space and enhance their individual credit profile,” added Effendy.

A CTOS personal credit report contains detailed information about a person’s debt, account histories for credit cards and loans such as payment history, including any late payments, credit limits or loan amounts, account balances, and credit inquiries. Legal cases and bankruptcies are also listed in a separate section of the credit report as well as directorships and business interests. Banks and lenders use this information as part of the credit evaluation process before approving a credit card and loan application.

Checking a credit report helps consumers understand what banks see and how evaluations are made to either approve or reject credit extensions. Consumers can also check for any signs of identity theft and fraud; any litigation or bankruptcy cases registered under their names and also fix any inaccuracies that may show up.

The importance of having a good credit report isn’t limited to financial products only. Potential landlords may also review an applicant’s credit report to decide whether to rent their property or not. Some employers even check credit reports as part of the job application process.

With the partnership, CTOS will have access to 16 million users and be able to expand its footprint of products to potential new customers. As for TNG, this will further entrench the app as an integrated super app.

Previous articlePetronas In Deal To Sell Interests In Chad
Next articleKPower Chairman Dato Abdul Karim Steps Down

LEAVE A REPLY

Please enter your comment!
Please enter your name here