CRC Introduces Credit Score Service

• CRC Introduces Credit Score Service

The CRC Credit Bureau has introduced a new credit score to help assess the credit history of intended borrowers.

According to the bureau, the Fair Isaac Corporation powered credit score is now available in Nigeria for both lenders and interested individuals.

In a statement released by the company, the new Credit Score generates rating based on an individual’s credit history.

It stated, “Credit scoring is a method of allocating scores to customers, to determine their level of risk in extending them loans or credit facilities. Credit Scores help lenders make quick and informed credit decisions on who to extend credit facilities or loans to.”

The CRC Score, according to the credit bureau, highlights the individual level of risk faster than the conventional method and help lenders make quick decisions on new and existing credit customers.

It added, “As an individual, the CRC Score is a number that shows the level of risk associated with doing business with you or the quality of your credit status. Your CRC score can encourage or discourage credit providers at the point of making credit decisions on your application.”

Mr Tunde Popoola, the Managing Director/Chief Executive Officer, CRC Credit Bureau, said, “Knowing your CRC Score makes you better prepared before applying for a loan and it’s the first step in taking control of your financial reputation.”