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Credit Score


What is a credit score?

A credit score is a numerical expression representing the “credit risk” (also known as the probability of default) of  consumers. It is one of the factors used by credit providers for approving credit applications. NOVA credit score ranges from 300 to 800. The higher the credit score, the lower the “credit risk”.

How is the credit score calculated?

Credit score is developed with sophisticated statistical model and calculated based on information from 5 major categories in a credit report, including: Payment History, Debt Burden, New Account and General / Enquiry Records.

All Rounded Credit Data Considered

Developed with sophisticated statistical model and calculated based on information of credit report including 5 major categories: Payment History, Debt Burden, New Account and General / Enquiry Records.


Credit Score Repayment Probability*
711 or above 99.86% – 100%
690 – 710 99.71% – 99.85%
655 – 689 99.02% – 99.70%
650 – 654 98.84% – 99.01%
636 – 649 98.12% – 98.83%
625 – 635 97.27% – 98.11%
605 – 624 94.69% – 97.26%
581 – 604 88.59% – 94.68%
371 – 580 0.53% – 88.58%
300 – 370 0.00% – 0.52%

*Probability to make payment within 90 days from the due date in the next 12 months.

Payment History
Debt Burden
New Account
General Enquiry Records
Credit Mix

Is it important to check my credit score regularly?

Any inaccurate data on your credit report or fraudulent activities, such as identity theft may cause your credit score vary in a short period. This may impact your credit application or even direct financial loss. It is advisable to regularly check your credit score.

Maintain good credit records
Paying bills on time is essential to build good credit records.
Establish credit history
Credit providers cannot or have difficulty evaluating the creditworthiness of individuals with no credit history. It may impact the application result and interest rates. Consumers with no credit history can apply for a credit card and repay on time to establish a good credit history.
Avoid overusing your credit limit
Credit limit usage is the ratio of credit spending to the amount of credit on all your credit accounts. Keeping credit utilization below 50% can improve your credit score.
Avoid frequent credit applications
Frequent credit applications may negatively impact your credit score. Therefore, you should avoid applying for credit cards or loans from different credit providers at the same time.
Regularly check credit reports
Regularly checking your credit report can help you identify any errors or fraud and correct them promptly.