Your credit record

A good credit record is very valuable to you. This information is used by banks and finance companies to aid in approving loan or credit card applications or assessing the increase of your borrowing limit.

You can build a good credit record by:

  • Paying bills on time
  • Not filing for bankruptcy
  • Not having any court action taken against you for non-payment of outstanding balances

Managing your finances well helps build up a good repayment record. A lender is more likely to offer you credit if you maintain a good record. They may also offer it at lower interest rates.

Your credit score

A credit score is a number that indicates the status of your credit record. This number changes when information in a report is updated depending on your credit behavior. The amount of debt, type of credit, length of credit history, and payment behavior, among others, affect your credit score. For example, your credit score may drop if you make late payments on a loan.

The financial service industry uses many different credit scores. These may differ from lender to lender, or from type of credit (credit card, loan, etc.). Scores are determined from credit-scoring models developed by these lenders. Part of their approval process is to compare your score with the scores of people with similar credit profiles.

A score shows a lender how likely you are able to make repayments on a loan, and if you can make these payments on time.

You’re also encouraged to pay more than the Minimum Payment Due to lessen your balance faster. Making just the Minimum Payment each month will keep you in debt for a longer period of time and cost you a lot in interest and charges. Save money by paying more than the minimum amount each month. Your credit card gives you financial flexibility and how you choose to repay your balance influences your financial well-being. 

This credit guide has been developed by HSBC to ensure the personal financial health of our customers in the Philippines. The information contained in these pages is not intended to provide professional advice and should not be relied upon in that regard. 

For inquiries or complaints, please call HSBC's Customer Services at +63(2) 85-800 from Metro Manila, 
+1-800-1-888-8555 PLDT domestic toll-free, +63(2) 976-8000 from overseas, (country code) + 800-100-85-800 international toll-free for selected countries, or send an email to If you want to find out more about HSBC's customer feedback procedures, please visit

The Hongkong and Shanghai Banking Corporation Limited is an entity regulated by the Bangko Sentral ng Pilipinas (Bangko Sentral). You may also contact the Bangko Sentral Financial Consumer Protection Department at 
(02) 708-7087 or

Note: Do not provide your account or credit card numbers or disclose any other confidential information or banking instructions through email.