In order to compile credit scores for people and businesses, Al Etihad Credit Bureau (AECB) has integrated utility invoicing data. This information will come from the emirates serviced by Etihad Water and Electricity (EtihadWE). Now, credit scores will take into account a specific individual or business’s monthly salary, check clearing, and telecom, water, and power bill expenditures.
Pay Your Bills On Time Or Get Your Credit Score Crashing
More individuals and businesses place a higher priority on their credit status. Hence the AECB’s credit score and rating are increasing in popularity. Data sharing will strictly adhere to commitments to preserve security and anonymity.
View this post on Instagram
More than 280,000 people and businesses are covered by more than 410,000 current contracts held by EtihadWE. Etihad’s utility billing and customer information payment duties have just been added to the AECB. By making credit reports more thorough, the goal is to promote the sustainability of the UAE credit market. This will, in turn, help consumers to make educated decisions.
Also Read: Etihad Is Mass Hiring In Dubai; Here’s How To Apply
What Do You Mean By Credit Scores And How Is It Calculated?
Their credit score can determine an individual’s creditworthiness. A credit score is basically a 3-digit number that ranges between 300 and 900. The nation’s credit reporting agencies compute it. An optimum score is typically regarded by lenders like banks and non-banking finance firms (NBFCs) as one of 750 or higher. To calculate credit ratings, each credit bureau has its own methodology. It is computed after giving due consideration to variables including payment history, credit usage, credit age, and credit kind.
Also Read:Etihad Emerges As The World’s Most Environmental Airline For The Year 2022