π Get your free credit report and understand the factors affecting your score via CreditHero Club!
The score on your credit report can affect the success rate of applications for credit products such as personal loans and credit cards. Many people may wonder if there is a way to "clean up" their credit record.
The answer is "wait"!
The information on your credit report is categorized into positive data, negative data, bankruptcy records, public records, and inquiry records. The companies providing credit reports will retain these 5 types of data for the following periods:
| Data | Example | Period |
|---|---|---|
| Positive Data | Timely credit card repayment records | Permanently until account is closed |
| Negative Data | Late payment records | 5 years |
| Bankruptcy Records | Records of effective legal proceedings | 8 years |
| Public Records | Debt collection and liquidation lawsuits | 7 years |
| Inquiry Records | TransUnion member inquiry records | 2 years |
Please note that you need to proactively contact TransUnion and arrange for "record clearing," and continue to maintain timely payments during the retention period.
If you encounter login issues, technical problems with the Credit Hero service, or need to update your personal information within the Credit Hero service, please contact our dedicated support team at: creditheroclub@support.moneyhero.com.hk
For any inquiries directly related to your credit report, credit score, or if you need to update personal information on your TransUnion credit report, you will need to contact TransUnion directly for assistance. They are the custodian of your credit data.