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CCR is a reporting system where credit providers are required to share customers’ positive and negative aspects of credit histories. This helps financial institutions make more informed lending decisions with a clearer picture of your credit history.
Previously, credit reports mainly showed ‘bad’ credit behaviour such as defaults, credit infringements and bankruptcies. Now reports also include positive information like on time repayment history of loans and credit cards. These changes may make it easier or harder to get credit or a loan.
