(You wouldn’t want anybody nosing around your personal information but you would like to know if other people think your credit score stinks, and why! Photo courtesy of Aladdin Cordero.)

If you are worried about the smokes and mirrors surrounding your official credit score, or believe that after a bad credit spell banks should give you a chance, here’s something that might cheer you up.

President Gloria Macapagal-Arroyo will sign today Republic Act 9510 or the Credit Information Act, which will create a credit bureau called Central Credit Information Corp.

The CCIC will pool data from banks, quasi-banks and their subsidiaries and affiliates, life insurance companies, credit card firms, government lending institutions and other credit facilities.
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