If you’ve ever been rejected for a loan, you may have been told your “credit score isn’t good enough.” What many borrowers in Singapore don’t realise is that there isn’t just one credit report — and different lenders look at different records.
Understanding the difference between CBS (Credit Bureau Singapore) and MLCB (Moneylenders Credit Bureau) reports can help you improve your chances of loan approval and make smarter financial decisions.
1. What Is a Credit Score in Singapore?
A credit score reflects how you’ve managed past borrowing. It helps lenders assess:
Your repayment history
Outstanding debt levels
Risk of late or missed payments
In Singapore, banks and licensed moneylenders do not rely on the same credit bureau, which is why some borrowers may be rejected by banks but still qualify for regulated loans elsewhere.
2. What Is a CBS Credit Report? (Banks & Financial Institutions)
The CBS credit report is maintained by Credit Bureau Singapore and is primarily used by:
Banks
Finance companies
Credit card issuers
CBS reports include:
Bank loans and credit cards
Credit limits and utilisation
Missed or late payments
Defaults and restructuring records
📌 CBS reports are generally stricter, and negative records may stay visible for several years, affecting bank loan eligibility.
3. What Is an MLCB Credit Report? (Licensed Moneylenders)
The MLCB credit report is used by licensed moneylenders regulated under the Ministry of Law.
MLCB reports focus on:
Loans taken from licensed moneylenders
Repayment behaviour with licensed lenders
Current outstanding balances
Payment consistency
💡 Important difference:
A poor CBS score does not automatically disqualify you from borrowing with a licensed moneylender, as long as your MLCB record shows responsible repayment behaviour and affordability.
4. Why This Difference Matters to Borrowers
Many Singapore borrowers assume loan rejection means they have no options. In reality:
A weak CBS score may affect bank loans
A clean or improving MLCB record can still support approval from a licensed moneylender
This distinction allows licensed moneylenders to assist borrowers who need short-term financial support while still practising responsible lending.
5. How to Improve Your CBS Credit Score (Bank-Focused)
If your goal is to qualify for bank loans in the future:
Pay all credit cards and bank loans on time
Reduce outstanding balances below 30–40%
Avoid multiple loan applications in a short period
Keep long-standing credit accounts active
Improving a CBS score takes time but builds long-term financial credibility.
6. How to Improve Your MLCB Credit Record (Licensed Moneylender-Focused)
If you’re borrowing from licensed moneylenders:
Make repayments on time, every month
Avoid holding multiple concurrent moneylender loans
Communicate early if repayment difficulties arise
Borrow within your affordability limits
Consistent repayment under MLCB reporting helps demonstrate financial discipline.
7. Can Borrowing from a Licensed Moneylender Help Your Credit?
Yes — when done responsibly.
Timely repayment of a licensed moneylender loan contributes positively to your MLCB record, which may improve your access to regulated credit options in the future.
However, missed payments or over-borrowing can still damage your record, so discipline remains essential.
8. Be Honest During Loan Applications
Whether applying to a bank or licensed moneylender, always disclose your income and liabilities accurately. Licensed moneylenders assess both MLCB records and affordability, not just a single score.
Transparency improves approval outcomes and prevents future financial strain.
Conclusion
Understanding the difference between CBS and MLCB credit reports gives you clarity and control over your financial journey. While banks and licensed moneylenders assess risk differently, responsible borrowing and consistent repayment are always the foundation of a healthy credit profile.
As a licensed moneylender in Singapore, Trillion Credit believes informed borrowers make better decisions. Our role is to provide transparent, regulated lending while supporting clients in rebuilding and managing their credit responsibly.
Unsure which credit report applies to you? Contact us today for a confidential assessment and guidance on responsible borrowing based on your financial profile.
Walk into our branch or apply online anytime.
We’re here to provide fast, transparent, and legal cash loans.
📱 Call us at 65090111
📝 Or apply now at https://trillioncredit.com.sg/apply-for-loan/
