Consumers win gold by taking charge of their credit health

CTOS Data Systems Sdn Bhd, Malaysia’s leading credit reporting agency, recently rewarded consumers who took the initiative to keep up to date with their credit health by checking their CTOS Score, with over RM20,000 worth of gold. Eight winners of the CTOS “Win Gold & Hop with Joy” contest, which was held in conjunction with the Chinese New Year festive period, were rewarded with a 10-gram solid gold bar each.

Erick Hamburger, Group CEO of CTOS Digital Berhad with contest winners

To win the prizes, the victors came up with the most creative slogans from over 20,000 participants who purchased their MyCTOS Score Reports between 3rd to 21st January 2023.

“Congratulations to all contestants for joining our CTOS CNY contest, and especially so to our eight winners. We have seen from our recent ‘State of Consumer Credit’ study, that credit health is on rise, with improvements in the average CTOS Score for consumers last year. Therefore, we would like to continue encouraging Malaysians to take charge of their credit health,” explained Erick Hamburger, Group CEO of CTOS Digital Berhad. “Advocating healthy financial habits and incentivizing people to maintain those practices is a significant role for CTOS as the country’s leading credit reporting agency.”

The winners received their prizes from Erick Hamburger at CTOS headquarters.

Winner Zamir Farhan said, “I am grateful and thankful to have won, this is such a unique gift and I will treasure it. I check my CTOS Score annually even if I’m not looking for credit facilities from the banks. This is because I always want to ensure my financial health is in good condition. I suggest every Malaysian to check their score every now and then, not just when applying for loans.”

Contest winner Vincent Loh added, “I work for one of the banks and it is compulsory for my employer to perform financial screenings for all employees and as we strongly advocate financial health, I also encourage all my colleagues to check their CTOS score periodically.”

CTOS has conducted over 450 financial education roadshows and webinars in the past 6 years to raise public awareness on the importance of managing their credit health. This has led to a better understanding amongst Malaysian consumers on the value of doing self-checks to stay on top of their credit health to ensure sound financial planning for a better future.

This was evident when the recently released CTOS State of Consumers’ Credit 2022 showed a positive rise in average CTOS Scores for Malaysians over the past three years from 663 to 678. The CTOS Score is a 3-digit number that represents a consumer’s creditworthiness based on the individual’s payment and management of their credit. It ranges from 300 to 850. The higher the score, the higher the chances of securing credit.