What is a Credit Report in UAE?

Credit Report is a document contains your personal identity information, details of your credit cards, loans, utility bills, and other credit facilities, along with with your payment and bounced cheque history.

What’s included in my credit report in UAE?

Record of previous and current credit facilities. The amount you have borrowed and the repayment term was chosen and the interest to be paid.
Payment history for the last 2 years. There is a detailed payment history section in your report that will mention the amount paid each month towards each loan.
Overdue payments will also be mentioned. If there are any payments overdue as you missed paying them, then it will be mentioned in the credit report.
Record of default, if any. If you have defaulted on your payment, it will show on your credit report. This is one of the major factors that lead to your loan application rejection.
Credit Inquiries, All your recent applications, and inquiries have done to the different financial institutions.

What does my Credit Report data use for?

Banks will use your credit report and score to decide whether to lend you money and the interest rate at which to lend based on your risk as a borrower. You can also proactively check your Credit Report before applying for a loan, credit card or other credit facilities

How will a Credit Report benefit you?

Helps you understand your credit-worthiness

Lowers the costs of credit for a good borrower

Provides greater access to capital for Small & Medium Businesses
The process of obtaining approval for borrowings (i.e. loans, credit cards, etc) will be more transparent and accurate

Who issues my Credit Report and Credit Score in UAE?

In UAE, Al Etihad Credit Bureau (AECB) Issues the Credit Report and Credit Scores. AECB aggregates and analyzes this data received from all financial institutions to calculate Credit Scores and produce Credit Reports that are made available to individuals and companies in the UAE

Where to get my credit report?

To obtain your Credit Report, you should visit the Customer Service Centre at Al Etihad Credit Bureau and apply for a Credit Report. For individuals, the required supporting documents to obtain a Credit Report are:

The original Emirates ID card of the Applicant.
Passport copy of the Applicant.
In the case of Authorization, one must bring the following:
- A copy of a valid Emirates ID card and passport of the customer (owner of the Credit Report).
- The original Emirates ID card of the authorized person.
- Original notarized Power of Attorney acceptable to the Al Etihad Credit Bureau or an Authorization Letter that includes authentication of the customer’s signature, from the bank.
- Credit Report Consent Form (available online) duly filled in.

How do I get my free credit report online in UAE?

At present, there are no Free Credit Reports in UAE. you need to visit AECB customer service center to get your Credit Report copy

How much does the AECB Credit Report Cost?

Report Type	AED
Credit Report – Individual or Establishment	100 + VAT
Credit Report – Individual or Establishment with Score	150 + VAT
Credit Report – Commercial	180 + VAT
Credit Report – Commercial with Score	220 + VAT
Credit Score	60 + VAT

How to read and understand your credit report?

Reading a credit report is easy. The first page includes the number given to you by the AECB; your name in Arabic and English; gender; date of birth and nationality in a box with your score opposite along with your total outstanding balance; the total amount of late and missed payments; and the number of contracts that are more than 90 days overdue.

Beneath that, you will see another box with your identification information, such as a passport number and further boxes with your address, information about your employment, contact details and other sources of income. The second and third pages include a summary of your credit, such as credit cards or personal loans, including those that were rejected and closed, as well as your active contracts that detail the total credit limit and outstanding balance. Below that there are full details of the payment history for each contract. On the last page, you will find a list of all your applications for credit.

Your AECB credit report will contain the following:

CB Subject ID: This number is a unique number created by Al Etihad Credit Bureau. The first section will also include your title, name, gender, date of birth, nationality, and your resident flag.
Score: Your credit score determines your overall creditworthiness. It also includes the total outstanding balance, total amount overdue, and the number of default contracts. The total outstanding balance is the total amount of liabilities that are due to your credit providers. The total amount overdue is the total missed and late payments for your credit facilities with all your credit providers. The number of default contracts is when you have crossed 90 days overdue.
Documents: This includes your identification number that is your Emirates ID Card number, passport number, etc.
Address: Your present and past address details will also be mentioned.
Employments: Your employment details such as employment type, annual income, date of employment, date of termination, provider number and the date of the last update will be mentioned.
Contacts: Your phone number, provider number, and date of the last update will be mentioned.
Other income: Your other source of income, the annual income, provider number, and date of the last update will be mentioned.
Contracts: Contracts are a summary of the number of credit facilities requested. It includes the total number of records, a total number of reporting data providers, credit facilities requested for installment, non-installments, credit cards, and services, credit facilities refused, not taken up, active, and closed. This section includes details of total exposure, credit utilization rate on the credit cards, worst current payment delay, worst payment delay in 2 years, oldest contract start date, newest contract start date, number of enquiries in the last 90 days, total outstanding balance of guaranteed contracts, and total overdue of guaranteed contracts.
Financial summary: This section is the summary of all the active contracts that belong or are related to you. It includes details of active contracts and if you are the main contract holder or a guarantor or a co-contract holder. The total monthly installment amount due, total outstanding balance amount and total overdue amount of information will be available for installments, non-installments and credit cards.
Contract details: This includes the full details of the payment history for all the contract belonging or relating to you. It includes the details such as type of contract, phase, role, start date, date last updates, contract ID, outstanding balance, method of payment, currency code, total amount, total number of instalments, number of instalments remaining, payment frequency, payments amount, closed date, Islamic contract flag, secured contract flag, overdue amount, number of days payment delay, maximum overdue amount, maximum overdue amount date, maximum number of days of payment delay, maximum number of days of payment delay date, worst status, and worst status date. The contract details of the installment, non-installment loans, and credit cards are available in this section.
Application: This section lists out all the applications you have made for credit facilities with the lending institutions. It mentions the type of contract, phase, role, date of the last update, total amount, number of installments, credit limit, and links.

Click here for SAMPLE CREDIT Report

If reading your credit report is confusing for you?

Make use of AECB Credit Report Glossary – Click Here

What if you don’t agree with your Credit Report?

The data contained in the credit report is supplied by various parties and it is collated from various sources. The Al Etihad Credit Bureau is not responsible for the correctness. If you find any discrepancies, bring it to the notice and get it fixed

If you suspect your report is inaccurate or includes outdated information, you can dispute the report in person at any of the Al Etihad Credit Bureau’s customer service locations in Abu Dhabi or Dubai.

you must present relevant documentation proofs such as a bank letters, statement or utility bill along with Credit Report dispute form

For more information visit official website of Al Etihad Credit bureau www.aecb.gov.ae

Understanding your Credit Report in UAE