KUALA LUMPUR (Jan 26): A campaign by a leading private credit reporting agency showed that 37% of consumers have a good-to-excellent credit score, while 57% should start working on improving their credit standing.

The findings also revealed that about 6% of consumers have little to no credit history, said CTOS Data Systems Sdn Bhd

“This can also cause issues, as a lack of credit  history means that lenders have to make lending decisions on little to no information,” CTOS said in a statement today.

The company said the two-month campaign, which attracted some 100,000 participants, was aimed at transforming the attitude of Malaysians towards responsible credit management.

CTOS Data Systems chief executive officer Eric Chin said  about 80% of the free score report redemptions were made by consumers new to credit scoring.

“By sustaining a good credit score through prompt payment of bills, maintaining a low balance on credit cards and other revolving credit, and obtaining new credit card only when needed, consumers can take charge of their own credit-worthiness and better manage their eligibility for credit,” Chin said.

“Knowing and understanding your CTOS Score is not only important for credit management, it is also a tool for individuals to protect against identity theft and fraudulent  transactions,” he added.