Credit score

Consumer Credit Score | The star

Most consumers have managed to maintain their credit repayments in the last two years affected by Covid-19, according to Experian’s State of Credit 2021 report.

Individual creditworthiness increased slightly, with the average credit score increasing by 18 points, from 601 in 2019, before the Covid-19 pandemic, to 619 in 2021 in Malaysia.


This is the highest average i-SCORE of the past four years.

The report examined the credit performance of consumers across the country, highlighting consumer credit scores and borrowing behaviors versus credit.

The rating is normally used by lenders to find out an individual’s creditworthiness before approving or rejecting a loan application. % in 2021.

People aged 22 to 28 had the highest average DPD over the four years, but saw a drop from 6.2% to 3.8%, according to the report.

However, he adds that young adults have suffered more than other age groups during the pandemic.

This is so since they are in the early stages of their careers with more modest incomes and savings than their older peers.

Unemployment has also hit this segment particularly hard over the past two years.

But government intervention, through loan moratoriums and other support measures, may have contributed positively in addition to shifts in Malaysians’ behavior towards conservative spending during the difficult economic climate, he says.