FAQ

General FAQs

What is TransUnion? What is its main business?

TransUnion is a privately owned credit reference agency. As a credit bureau in Hong Kong, we work with business customers and consumers to maintain credit data provided by our members (such as banks and finance companies). In turn, we provide information on financial health that helps businesses make more informed decisions and minimise risk, and helps consumers enjoy greater financial well-being.

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How does TransUnion handle personal information?

Nothing is more important than the safety and security of the consumer information TransUnion is entrusted with. Credit information held by TransUnion is highly confidential. To keep your information protected, TransUnion acts in accordance with the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong in the handling of credit data and the providing of credit reports to its members. Call us at (852) 2577 1816 for more information.

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What personal information can TransUnion collect and disclose?

According to the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong, TransUnion can collect and provide the following personal information to its members:

  • General personal data such as name, address, telephone number, date of birth, Hong Kong Identity Card number and travel document number
  • Credit card and personal loan data, such as types of credit accounts, repayment history records, credit limits and outstanding balances
  • Delinquent account information provided by its members, such as type of credit, the amount involved, date of default and date of repayment
  • Hire-purchase information on vehicles, vessels and equipment provided by its members
  • Public records such as action relating to recovery of debt, judgment entered for money owed, bankruptcy and discharge of bankruptcy
  • Individual credit enquiries made by TransUnion’s members

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How long can TransUnion retain the relevant individual credit information?

In accordance with the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong, retention time limits are as follows:

  • TransUnion can retain current credit card and personal loan records for credit reference purposes.
  • TransUnion can retain normal closed credit card and personal loan records up to five years from the date of account termination.
  • TransUnion can retain delinquent records for up to five years from the date of full settlement, or five years from the discharge of bankruptcy, as notified by the individual in accordance with the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong (whichever occurs first).
  • TransUnion can retain records for filed bankruptcy petitions for eight years and other public records for seven years from the dates of legal proceedings.
  • TransUnion can retain enquiries made by its members for two years from the dates of such enquiries.
  • TransUnion will promptly delete terminated accounts in our database, upon receiving appropriate notification from members, when the amount due has not been in any payment default for more than 60 days within a five-year period.

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Can I contact TransUnion after receiving notice about credit enquiry from my bank or financial institution?

Yes, you can contact TransUnion directly. Members of TransUnion may contact us for credit checks when you approach them to apply for credit. In accordance with the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong, the relevant member has a duty to inform you that it has sought your personal information for credit reference.

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How does TransUnion help credit applicants?

TransUnion provides credit providers with updated credit information to help them make fast, objective and accurate decisions so they can approve loans and grant credit efficiently. Credit applicants with a credit record reflecting prompt payment find it comparatively easy to obtain new credit and more favourable pricing terms.

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Does TransUnion make credit decisions?

No, TransUnion does not make credit decisions. Each credit provider has different requirements for the extension of credit, so it is impossible for anyone to create an overall rating. TransUnion does not approve or reject applications for credit. We simply report the information provided by the credit providers.

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Are there adequate safeguards to protect personal data stored and processed by TransUnion?

Yes, TransUnion is a global leader in developing and implementing best practices in data security to safeguard business and personal records. Our website supports browsers that use 128-bit encryption, and Secure Socket Layer (SSL) protocol for the online security of your personal information. In addition, we follow the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong. This includes commissioning an independent compliance audit annually to safeguard the personal data privacy rights of individuals.

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Do I have a choice about the sharing of my credit data by credit providers?

When your credit account is terminated by full repayment, with no default data exceeding 60 days within 5 years, then you have the choice to "opt-out".

If you choose not to "opt-out", the closed account data will remain available to other credit providers with whom you already have a credit relationship. When you subsequently apply for credit with other credit providers, your closed account information, with record of no late payments, may put you in a stronger position to negotiate better terms of credit.

If you do choose to "opt-out", however, you have to instruct your credit provider to make a request to TransUnion to delete the data relating to your terminated account

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Credit Reports & Data Correction FAQs

What is a credit report?

A credit report is a record of a consumer’s credit history. A TransUnion Credit Report contains information provided by members (such as banks and finance companies). With a credit report, you can learn about your own credit record, take control of your financial health and alert yourself to potential identity theft and credit fraud. See a sample TransUnion Credit Report

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Who can access my credit report?

Credit information held by TransUnion is highly confidential. To keep your information protected, access is limited to the following:

You- You can access your credit report. You can also order a copy of your credit report and authorise us to mail it to another party.

Credit providers- With your credit report, credit providers may review your credit status when you submit an application or they offer you credit.

"Relevant persons" and others- Apart from you and Members, TransUnion can provide your credit report only to "relevant persons" (including companies) for the purposes of the Personal Data (Privacy) Ordinance (Cap. 486) and to anyone to whom TransUnion is required by law to provide a copy of the report (for example, under a court order).

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How can I check my own credit report?

You can order your credit report or Credit Report & Alerts online. Or you can call TransUnion and make an appointment to meet with our Consumer Relations Officer. When you come in, you will fill out a Credit Report Application Form to purchase. The Consumer Relations Officer will then check your proof of identity before giving you a copy of your credit report. You may also watch our online tutorial here.

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When I find an issue in my credit report and want to amend it, what should I do?

You can download a Personal Data Correction Formfill it out, include any appropriate and required documents, and mail it back to us. If you have any questions, please contact our Consumer Relations Department at (852) 2577 1816. We are available Monday-Friday 0900-1730, except public holidays.

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Can I re-apply for credit from the relevant credit provider after my data is amended? Will my application for credit be granted after the amendment to my credit report?

Yes, you can re-apply for credit from the credit provider after the data is amended. In accordance with the Code of Practice on Consumer Credit Data issued by the Office of the Privacy Commissioner for Personal Data, Hong Kong, if your credit application is rejected due to issues concerning your data, the relevant credit provider should, upon your request, reconsider your credit application based on the updated data. TransUnion is only responsible for providing credit information to its members for reference purposes.

It is the sole decision of the relevant credit provider whether to grant you credit. TransUnion does not approve or deny credit applications.

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How do I cancel my monthly Credit Report Subscription?

You may cancel your monthly subscription 7 days prior your next billing date through our online system. Click here to learn how to cancel monthly Credit Report subscription.

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What should I do if my order couldn’t process through?

If your online order cannot be processed, kindly follow below instructions:

  • Download and fill out the Create Online Account Application Form here
  • Scan or take a photo of your HKID (front only)
  • Send in your filled form and HKID copy/photo to contact@transunion.hk with “Create Online Account Application” indicated in Subject line

Once we received above information, we will contact you at our earliest availability.

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