Did you know that with Cambodia’s improving banking system, the credit score system is slowly being implemented? But what exactly is a credit score? It's a numerical rating used to assess your credit risk. A good credit score improves your chances of getting loans or credit cards approved. If your score is low, don’t worry—it can be improved over time by following a few steps.
One of the easiest ways to improve your credit score is by paying your bills on time. Here are a few tips to help:
Paid-off debts, such as student loans or past credit card payments, can help improve your credit score. They serve as proof of your ability to manage and repay debts responsibly—something lenders value highly.
Lenders want to see that you can handle different types of credit. Having a mix of credit cards, personal loans, or instalment plans shows experience in managing credit and builds confidence in your ability to repay debt consistently.
Credit monitoring allows you to track changes in your score over time and respond quickly to any issues. The Credit Bureau of Cambodia offers such services. Visit their website for more details and to request your credit report.
Improving your credit score takes time and consistency, but the benefits are worth it. From better loan approval chances to lower interest rates, a healthier credit score gives you more financial freedom. Start today—your future self will thank you.
is Mobile Banking App that allows you to access and manage your bank accounts from your smartphone. Besides Banking features, It can help you to give financial tips and tricks, save money while having fun, do more, and spend less time worrying about complicated financial things!
