Lendela, a loan matching platform, is teaming up with credit reference agency TransUnion to provide Hong Kong consumers with a free credit-checking tool.
What This Means for Hong Kong Consumers
Now, Hong Kong consumers can securely access their credit data, including their credit score, at no cost directly through Lendela’s platform. Both Lendela and TransUnion have confirmed that using this tool will not negatively impact their credit scores. In addition to the credit check, the platform will also offer instant, personalized loan options from various financial institutions.
This initiative is particularly relevant given that over a quarter (27%) of Hong Kong consumers are unaware of their credit score, according to TransUnion’s recent Consumer Pulse Study. This new tool complements Hong Kong’s existing Credit Data Smart (CDS) initiative, launched in April 2024, which already provides consumers with one free annual credit report.
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