Credit Scoring in the Philippines

If you are someone who borrows cash for emergency reasons or perhaps you need capital to start or improve your business, it is very important that you know what a credit score is. This digit determines how much a financial institution like a bank can trust you with a loan before releasing any money to you. But online lending service can make it much quicker.

Your credit standing is a reflection of your money borrowing history in any financial institution. This includes essential information about yourself such as employment records, the amount loaned, payments that were missed, and the number of debts settled or completed.

An individual’s credit rating also contributes to the credit standing of the country. This is the basis of foreign investors if the country is worth investing in. As of 2021, the Philippines still maintains a BBB rating from Standard & Poor’s Global Ratings (S&P), one of the biggest credit agencies in the world, even after the Covid-19 pandemic hit the Philippines. This rating means that the international viewpoint on the country’s credit is positive.

Credit Scoring Internationally

Credit scores in the United States range from 300 which is the lowest and 850 as the highest mark. This is used by financial institutions as well as landlords for background checking to see if their prospective tenants are of good financial standing or not. Meanwhile, China bases their credit scores or their Social Credit System on trustworthiness and distrust which became controversial as those people with low credit standing were banned from purchasing airline and train tickets, accessing some websites, and other services.

Credit Scoring in the Philippines

The system for credit scoring in the Philippines is not as centralized as other countries but it is not very strict either. However, financial institutions in the Philippines are not so lenient that they neglect to check on important documents and records of the person borrowing. They depend on prominent credit rating agencies to determine and review the credit score of an individual. These credit rating agencies have been present in the Philippines for many years and they have in their possession holding blacklists and each person’s credit history which means that it is easy for reputable financial institutions to get information on a person’s credit standing.

Credit Scoring Institutions in the Philippines

Credit rating agencies record all credit records of each borrower in the Philippines. They also partner with foreign agencies to improve their managing systems. To have an idea of what these companies are, check this list of the largest credit rating agencies in the Philippines.

Credit Information Bureau, Inc. (CIBI)

CIBI is a local credit bureau in the Philippines. It used to be a government institution until it was privatized in 1997. Its services basically revolve around providing information such as compliance records to businesses and individuals like accrediting agencies, hiring professionals, and industry partners.

Mastercard Association of the Philippines (CCAP) C4 (Consolidated Cancelled Credit Cards)

CCAP is an organization that focuses on each individual’s responsible credit card usage and the safety and reliability of using credit cards as a mode of payment. It acts as a moderator between the consumer or credit card holder, the industry, and merchant establishments.

Philippine Rating Services Corporation

This credit rating agency is composed of expert analysts that issue financial assessments to financial institutions like banks.

Bankers Association of the Philippines (BAP) Credit Bureau

BAP Credit Bureau is a credit rating agency and financial management institution that caters to and provides information to commercial banks in the country.


This is a US credit reporting agency that is one of the biggest in the world. It branched out in the Philippines in 2011 and partners with Philippine commercial banks such as BDO, Metrobank, HSBC, BPI, and Citibank.

Credit Information Corporation (CIC)

This corporation is government-owned and under the Department of Finance. It is tasked to create a centralized and complete system containing credit information in the country by collecting information from financial institutions such as banks, credit cooperatives, insurance companies, financing companies, and other agencies that issues loans. CIC helps creditors to assess the capacity of borrowers to pay.

If you need to apply for a loan and open a bank account where the money you will borrow will be deposited, take note that all of the information you will provide will be passed to credit scoring agencies. Thus, when you decide to have another loan in the future, it would be easy for financial institutions to dig into your credit history and determine whether your loan must be approved or not. This is why you must avoid delinquent payments to maintain an excellent credit score. If you find borrowing in banks troublesome especially if you do not need a huge sum right now, you might consider applying for a loan in Robocash here -

You can apply anytime and anywhere. If you are a Filipino citizen, 21 to 70 years of age, have a government ID, an active mobile phone number, and have registered on the website, then you may apply online through the website or at Robocash branch locations.You can get at least Php 1,000 to a limit of Php 25,000. Just don’t forget that a loan must be returned on time and this method must be used only in extreme cases.