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Consumer FAQs

Access FAQs about our online consumer services.

FAQs

Frequently Asked Question about Credit Report, Score & Alerts

Credit Myths
Account FAQs
General FAQs
Credit Reports & Data Correction FAQs
Credit Alert FAQs

Credit Myths

TransUnion is a government agency with access to all my personal data.

TransUnion is not a government agency, but a global information and insights company. As the first Credit Reference Agency (CRA) in Hong Kong, it holds the credit information of millions of Hong Kong consumers. Based on our years of experience in the financial industry, and the use of data fusion methods to match and combine credit data with public records, we analyse credit scores of consumers in order to provide a comprehensive, accurate, and reliable credit reports to be used as reference.

Without consent from the data subject (the person to whom the data relates), TransUnion will not access the data subject's credit data, such as name, ID number, phone number, mailing address, and loan history. In addition, we don't access data unrelated to credit, such as salaries, personal investments, or savings records.

TransUnion approves my credit applications.

TransUnion is not responsible for approving credit applications, but we will provide your credit score and credit history to the financial instituations which you have applied credit for a credit card or loan.

This financial institution makes the decision on approving your credit application based on your credit score and credit history, including its own standards, and your company records (if any). Hence, the approval results might differ for two people with the same credit score.

In addition to TransUnion, all banks issue personal credit reports.

As the first CRA in Hong Kong, TransUnion is currently the only accredited institution in Hong Kong to issue personal credit reports. Although financial instituions require your credit information for reference, but they cannot access this data from TransUnion until you authorize and consent us to do so.

Personal credit reports must accurately reflect the consumers' personal credit situations. With experience in credit data analysis, we have been maintaining close relationships with banks and various financial institutions, and taking factors such as the latest credit market trends and loan habit changes into account when performing our credit analysis, in order to make our credit reports more accurate and reliable. Since 1981, TransUnion has been committed to developing Hong Kong's credit database and credit data analysis services. Over the past years, our credit reports have been widely recognised in the industry.

I have the right to grant anyone access to my credit report.

Generally, you are the only one that can check your credit report through TransUnion. You can submit it to others by yourself if needed.

However, there is only one exception: Your prospective employer (which has signed a collaboration agreement with TransUnion) can check your credit report through TransUnion upon your authorization and consent. You will also receive a copy of the report.

When you apply for a credit card or loan, the bank or financial agency will check your credit data rather than your credit report through TransUnion upon your authorization and consent. For example, the bank or agency can only check how many credit cards you have, but not the banks that issued them.

Credit reports are only useful when applying for loans and credit cards. I don't have any loans or credit cards, I do not need to monitor and improve my credit score.

Apart from applying for loans and credit cards, credit reports are also required in financial checks for immigration application, employment background checks, etc. Therefore, even if you don't use loans or credit cards, you still need to keep an eye on your credit score.

I don't have any loans or credit cards, so my credit score must be high.

If you don't have any loans or credit cards, this means you have no credit history at all. However, this doesn't necessarily mean you have a good credit score. There is no reference on your credit score for TransUnion and no evidence has shown that you have developed a good repayment habit. Therefore, people with no credit history generally have low credit scores.

In order to have a good credit score, you should develop good repayment habits, such as apply a few credit cards, use your credit appropriately, and repay on time, so that you can gradually increase your credit score.

I have cut up my credit cards with overdue repayment records. This will instantly improve my credit score.

No, this will NOT instantly change your credit score! Because:

Negative credit history such as overdue repayments will remain in your credit report for 5 years after you have cleared your debts. This means it will take 5 years for the negative credit history to disappear from your record even after you closed your credit cards and repay your debts.
If a card takes up the majority of your total credit, your credit limit will fall sharply after the credit card is closed, and your credit score will be negatively affected.
After cutting up a card, your credit limit will decrease. If your monthly spending remain the same, your total credit utilization will then increase, which might negative impact on your credit score.

The more money I borrow, the lower my credit score will be.

Credit score is a reflection your attitude towards borrwing and ability to repay. So, as long as you settle your payment on time, the loan amount might not affect your credit score; however, if you have late payment, even it is $1, this might negative affect your credit score, and negative credit records will be kept in your credit report for 5 years.

Using only one credit card will reduce my risk of forgetting to make repayments and increase my credit score.

Using only one credit card can certainly reduce the chance of forgetting your payments; however, it can also reduce your credit flexibility. If you only have the credit limit of one card, when it comes to large purchase, such as paying an annual insurance fee, your credit utlization suddenly increases, which could lower your credit score.

I can change my loan data at any time.

No! You can't change your own credit data. Upon your authorization or consent, your credit data will be submitted from the financial instituation to the TransUnion's credit database. If you need to make any changes, you can submit a data correction request to TransUni. We will conduct an investigation upon your request, please click here for more details.

Account FAQs

FOR EXISITING SUBSCRIBERS

FOR NEW SUBSCRIBERS

I forgot my online account username and/or password, what should I do?

You can click “Forgot My Username” / “Forgot My Password” on the login page and follow the instructions to verify your identity and retrieve your username and password.

What should I do if I fail to complete the online process?

Please make an appointment at your earliest convenience via our website and visit our office in person with the following documents for identity verification:

Your HKID card or other identification document
An original copy of your valid proof of address issued within the last 3 months (e.g. rates & government rent notice, water bill, electricity bill, gas bill, or credit card statement)

What will happen if I do not re-authenticate?

You will not be able to view your latest credit information online until you have completed the re-authentication process.

Why am I not able to see my credit information upon completion of the re-authentication?

If you did not maintain an active subscription on your account, you need to re-subscribe to the service to see your credit information.

How do I cancel my online subscription? Will TransUnion refund the remaining days of subscription fee?

If you would like to cancel your online subscription, please login to your online account, access “Support”, select “Service Termination”, and click “You can cancel your monthly subscription anytime by clicking this link…”. This will cancel your online account. Once your account is cancelled, you will cease to access your Credit Report, Score and Alerts service. For assistance or any queries about your account, you can contact our Consumer Services and Operations at (852) 2577 1816 during office hours (Monday to Friday 9:00 AM– 5:30 PM, except public holidays) or via email at contact@transunion.hk.

How can I purchase a credit report?

Please visit www.transunion.hk. On the upper right hand corner, there is a BUY NOW button. You can get your credit report in a few simple steps. Click the BUY NOW button, fill in your personal information, answer a few questions for identity verification, and proceed to payment. Then you will be able get your credit report. Alternatively, please make an appointment and visit our office in person with the following documents for identity verification:

Your HKID card or other identification document
An original copy of your valid proof of address issued within the last 3 months (e.g. rates & government rent notice, water bill, electricity bill, gas bill, or credit card statement)

What should I do if I fail to complete the online process?

Please make an appointment at your earliest convenience via our website and visit our office in person with the following documents for identity verification:

Your HKID card or other identification document
An original copy of your valid proof of address issued within the last 3 months (e.g. rates & government rent notice, water bill, electricity bill, gas bill, or credit card statement)

Is OTP (one-time password) required for application of credit report online?

Yes, we will cease to release any credit reports online through our website without one-time password verification. In case the OTP verification is not applicable, the consumer can make an appointment via our website. In case you do not have a Hong Kong mobile number to receive the OTP, please contact our and visit our office in person with designated personal identification document.

I have a question or enquiry that is not answered in the above page – what should I do?

Please contact our Consumer Services and Operations at (852) 2577 1816 which, unless stated otherwise, is open during office hours (Monday to Friday 9:00 AM – 5:30 PM, except public holidays) or via email at contact@transunion.hk.

General FAQs

What is TransUnion? What is its main business?

A global information and insights company, TransUnion provides an accurate and comprehensive picture of each person, stewarded with care. As a result, organizations can better understand consumers in order to make more informed decisions, and consumers can be confident that their data identities will result in the opportunities they deserve. Our customers in Hong Kong include some of the top banks and money lenders, and as Hong Kong’s leading consumer credit information company, we maintain credit records on over 5.5 million consumers.

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 stewarded with care and highly confidential. We make trust possible by ensuring that each consumer is reliably and safely represented in the marketplace. We call this Information for Good. 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.

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

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.

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.

How does TransUnion help credit applicants?

We provide an accurate and comprehensive picture of each person, stewarded with care. As a result, organizations can better understand consumers in order to make more informed decisions, and consumers can be confident that their data identities will result in the opportunities they deserve.

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.

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.

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.

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

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. Read Credit Report, Score & Alerts Services

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).

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.

How much does it cost to check my credit report?

Purchase monthly credit report subscription online or purchase credit report at TransUnion office in person, the fee is HKD $280. We accept payment by VISA / MasterCard or cash (cash payment only available for purchase at TransUnion office).

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 Form to fill 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.

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.

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. Please follow the steps below:

Login to our online portal, click "Support" > "FAQs" > "Service Termination"
Click "this link" under Service Termination to cancellation page
Click "Cancel My Subscription" to proceed cancel procedure
Follow the instructions and confirm to cancel your monthly subscription
You will receive a confirmation email to notify your monthly subscription has been cancelled successfully

Credit Alert FAQs

When will I received the credit alert?

TransUnion will send you a credit alert when there is critical change in your credit information, including:

New enquiry made to your credit report, OR
New credit accounts opened under your name, OR
Address changed, OR
Phone number changed

I have registered to the Basic Credit Alert service, but I did not receive any email credit alert, why?

There are two possible reasons that you did not receive any email credit alert:

You have no major changes in your credit information (For detail of “Major Change in Credit Information”, please refer to “FAQs: When will TransUnion send me credit alert”) OR
You have not log-on to your TransUnion online account in the past 90 days. As a result, your Basic Credit Alert Service has been terminated automatically.

If you would like to receive a confirmation email that there is no credit change in the past month, please click here to subscribe our Monthly Credit Report Service.

How do I get the TransUnion Credit Alert?

TransUnion sends Credit Alert to users via email and/or SMS. Basic Credit Alert users will receive email alert only, while the Monthly Credit Report Service subscribers can receive both email and SMS alert.

Who is eligible for the Basic Credit Alert?

The Basic Credit Alert is a new FREE service that TransUnion offers to all individuals who are aged 18 or over and holders of Hong Kong Identity Card. While existing Monthly Credit Report Service subscribers are already enjoying both SMS and email alert, non-existing users are welcome to apply, please click here to register.

Is there any expiry date for the Basic Credit Alert service?

The Basic Credit Alert service will NOT expire. However, if you have not log-on to your TransUnion Online Account to check your credit alert for 90 days, this service will be terminated automatically. As such, we highly recommend you to check your credit alert via your TransUnion Online Account regularly.

How frequent will TransUnion send me Credit Alert?

TransUnion only sends out credit alert when there is major change in user’s credit information. Generally, banks and financial institutes will provide updated credit information to TransUnion on a monthly basis. As such, we highly recommend users to check their credit alert via their TransUnion Online Account every month.

My Basic Credit Alert service is being terminated, can I re-subscribe? How?

Yes, please login to your TransUnion online account to re-subscribe. Please click here for details.

After cancellation / termination of my Monthly Credit Report Subscription, will I automatically switch to enjoy the Basic Credit Alert service?

No. However you may apply for the Basic Credit Alert Service and keep monitoring the changes of your credit information for free. Please click here to activate the Basic Credit Alert.

How to terminate my Basic Credit Alert service?

If you would like to terminate your Basic Credit Alert service, please:

Login to your TransUnion online account
Click on "Yours Profile" >> "Yours Settings", then click the unsubscribe button provided to unsubscribe the service

How to re-register the Basic Credit Alert service?

If you would like to subscribe the service again, please:

Login to your TransUnion online account
Click on "Yours Profile" >> "Yours Settings", then click the subscribe button provided to subscribe the service again via payment page