A good credit history in the next few days could get you a more attractive interest rate on your loans whilst a bad one would mean higher interest rates. This is because from Thursday, the credit worthiness of all individuals and businesses can be ascertained by banks and other financial institutions courtesy the credit reference bureau. The first bureau to secure a license to operate XDS Data has been building credit profiles with data on lenders and says that information will be accessible to the banks when the system goes live in the next two days. Chief Executive of XDS Data, George Ahiafor, told Joy Business News “the fact that this credit referencing bill is in session means that you know that if you take a facility and you default, you won’t have access to another facility,” The activation of the credit reference bureau is expected to also lead to a general decline in the interest rates charged by banks that, over the years, have attributed their high interest on loans to the inability to gauge the credit worthiness of borrowers. Source: Joy Business/Myjoyonline.com/Ghana