Dos:

■ Be responsible and handle personal loan products properly. You should commit to repaying after borrowing.

■ Repay the loan (or for card products, outstanding balance of retail purchase and/or cash advances) on time to avoid late payment charges and additional overdue interest charged by banks.

■ Before applying for any loans, you should have a clear understanding of your financial condition, daily expenses and actual borrowing needs. You should also assess your repayment ability and avoid over-borrowing.

■ Understand the terms clearly before committing to a loan.

Don't:

■ Do not overspend and get yourself in debt. This will affect your credit record.

Points to Note:

■ If your repayment defaults for more than 60 days, the consumer credit reporting institution will retain the default record in the database for five full years from the date of full settlement.

■ A good credit record may bring you better interest rate and terms. In contrast, you may be subject to a higher interest rate, or get a smaller loan approved, or even your loan application may be rejected if your credit record is not good.