• Consumers still have time to improve their credit situations and ensure better outcomes when the credit bureau becomes fully operational.

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•  It will take at least 12 to 18 months after the credit bureau operator is licensed (sometime in the second half of 2018 after the draft legislation is enacted) to issue the first credit reports, as considerable effort will be required to collect the information from lenders, have the data reviewed and validated.

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• So, for persons with poor credit histories, start now to take concrete steps to improve your status.

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• Borrowers with good payment history often have access to lower collateral requirements and interest rates.

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• Enjoy faster credit decisions.

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• Borrowers encouraged to improve credit and payment behaviour, thereby preventing over-indebtedness and problems associated with capacity to repay debt.