It includes the monthly payments for the existing and closed facilities within two years

Negative information in the "credit report" continues to appear for this period

"Al Etihad Credit Bureau" issues credit reports and assessments for individuals and companies.

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The credit report is an important document used by banks, finance companies, telecommunications companies, and government agencies to evaluate a customer's eligibility for better rates and services. Therefore, maintaining a credit history and a good credit evaluation can open the door to more financial opportunities, and easy access to future credit facilities at competitive prices. This is according to the website of Al-Etihad Credit Bureau, which indicated that the credit report included monthly payments during the past two years for existing and closed credit facilities, as well as all the checks returned for the previous five years.

Credit report

In detail, Al Etihad Credit Information Company requests, collects, saves, analyzes, classifies, uses and circulates credit information from financial and non-financial institutions to issue credit reports and assessments for individuals and companies.

The company issues the credit report, which is a document that includes the customer's personal information, detailed information on all credit cards, loans and credit facilities related to him, in addition to the extent of commitment to monthly payments and bounced checks.

Evaluation

As for the credit rating, it is a triple number, indicating the likelihood that an individual or company will fail to pay a financial commitment on time during the next 12 months.

The rating ranges from 300 to 900, as a high credit rating indicates a low credit risk.

The credit evaluation is calculated by means of statistical models, which depend on several elements preserved in the credit record.

Credit file

The history of the monthly payments contributes to determining the financial identity of the customer, as knowing this information helps him in controlling his financial affairs.

This information is added to the customer's credit report, and the composition of his credit file that banks, finance companies, telecommunications companies, government agencies and other service providers use to assess his eligibility to obtain better rates and services. Therefore, maintaining a credit history and a good credit evaluation can open the door to more financial opportunities. And easy access to future credit facilities at competitive rates.

Al-Etihad Credit Bureau obtains credit information from financial institutions, from non-financial institutions such as telecommunications companies, and from government agencies, such as water and electricity suppliers, and the courts.

Cost

The price of the credit report with evaluation for individuals is 105 dirhams, including value added tax, while the price for companies is 231 dirhams with tax.

Contents

The credit report shows the customer's credit history during the past five years, as well as includes information about his personal identity, credit facilities and services granted to him, as well as unpaid dues, defaulted facilities, bounced checks, and the pattern of monthly payments.

The report also includes information on credit card ceilings and the part utilized thereof, as well as personal loans, balances of credit facilities, and service payments towards telecommunications companies and water and electricity providers.

The report may include additional credit information, obtained from other sources, such as courts, government agencies, and others.

It also includes the monthly payments during the past two years for the existing and closed credit facilities, as well as all the checks returned for the previous five years.

Correct information

The information contained in the credit report is provided by information providers, such as banks, other financial institutions, and telecommunications companies in the country.

And for customers who believe that the report contains incorrect information, they can be helped by transferring their inquiries to the relevant information provider, to correct the information by filling out the application available through the smart application.

• Maintaining a good credit history and evaluation helps in obtaining future credit facilities at competitive rates.

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