Hougang is translating from the Chinese dialect “the end of the river”. It’s a mature residential town located in the North-
Consequences You’ll Face Due to a Low Credit Score in Singapore
Failing to Start Your Business
Starting a new business takes money, so many entrepreneurs rely on small business loans to get their businesses off the ground. Bad credit can keep you from getting the financing you need to start your new business. Bad credit history can limit the amount you’re able to borrow to start a new business, even if you have a solid business plan and data supporting your business success.
Certain jobs, especially those in upper management or the finance industry, require you to have a good credit history. You can actually be turned down for a job because of negative items on your credit report, especially high debt amounts, bankruptcy, or outstanding bills. Note that employers check your credit report and not your credit score. They’re not necessarily checking for bad credit, but for items that could affect your job performance.
Make sure you check your credit score from time to time, especially before you wish to make a big purchase. Talk to your financial advisor to know several ways to work on the poor credit score so that things work out well for you.