Guys,

Just sharing my story here

I applied for IKEA card (Master&Visa) from Alliance bank in 2004 and terminate/cancle the card in 2007 with FULL SETTLEMENT (i.e zero outstanding).

Today went to CCRIS & CTOS to check my credit rating, and to my suprise I saw I still have 2 credit cards with Alliance Bank as showed in CCRIS credit report.


When called Alliance Collection Dept, here is what they respond

"Sir, if you have cancle the card, we will still keep the information in CCRIS, we only going to remove upon issuance of Release Letter when customer request, this is our company POLICY'.

In other word, if you just ask the customer service to cancle the card, your information still be listed in CCRIS.


To compare, I had previously used Standard Chartered Credit Card (master&visa) and OCBC (Visa).... and my card info/credit listing is not listed, meaning they promptly remove my name upon I cancle the card. And to be fair, I didnt ask for any release letter either.

So as general precaution, not for just Alliance Credit Card, if you have cancle any card, PLEASE ASK FOR RELEASE LETTER AND REMOVAL FROM CCRIS LISTING (provided u settle all ur outstanding in full)

there is no such policy. Get them to remove as you do not have a "Credit facility" within their group.

c.c your complain to bnm.

Why would it matter if they still keep the information in CCRIS? If you have a good record of prompt payments it is a feather in your cap and may be beneficial if seeking loans in the future.

lol same to citibank and HSBC

Har?!
If really so, my credit record will be damn long I had 4 cards with Citibank previously but cancelled already.

I have to agree with the above statement

nope....

it would not be good...

it will show u have high credit facilityl.....thus reducing the amount o loan u can take...


just put urself in the bank position..

if someone who already have a loan, let say RM100k (credit limit/credit facility) and he applied another loan, of RM100k do you think you want to give him more? there will be more risk to you as he has already a committment regardless he paid in full or what..

remember your income is FIXED, but you are asking a bigger credit limit!

similar to your credit card, do you think your bank would just DOUBLE or TRIPLE your credit limit eventhough you make full payment every month??

if like that, I would have at least RM500k credit limit... for the past 7 years I have ZERO outstanding with consistent payment every month >RM2k/month credit card bill

ccris only show information for the past 12 months; are you talking about ctos?

ccris....

my credit card listing still there with zero outstanding past 12 mhts eventhough my card cancelled in year 2007

I believe TS was marked in the CCRIS when he default something.

Then he made full settlement upon cancellation.

The CS replied with " ... we will still keep the information...."

If my presumption is correct, I think most of the banks are practising this if you have been marked in CCRIS, the record won't be erased too even you terminated/cancelled the card?

Your understanding is wrong. Not all bank does that.
If they report to CCRIS, eventually they are reporting to BNM because BNM uses CCRIS reported numbers for their statistics to compare against the monthly reporting required by banks to be reported to BNM.

So if that's the case with Alliance, it's purely Alliance's own internal reporting policy with have nothing to do with other banks.

FYI, I've seen also some banks other than Alliance doing that (they put RM1 as balance to maintain the card in CCRIS) but like I say; it's each banks reporting standard. Then again, it wouldn't ruin anyone's credit rating. In fact it helped the person's rating as underwritter sees that he is a good paymaster with zero balance.

---

Added on March 9, 2011, 10:29 amTo the contrary of beliefs, what you mentioned is ideal. However, in the banking industry; there's already a general consensus that most incomes are under declared. Imagine seeing a guy which earn maybe RM3k per month but have 3-4 mortgage loans.

Even worse for cards. If you do not believe me, try go apply cards with another banks by citing you got so-and-so lines from so-and-so banks. I would say high chances they are going to match that line or even gives 10-30% increase on that line. But obviously you could not trick them as they vett through CCRIS which they can confirm what you mentioned (i.e. the line) is correctly reflected in CCRIS.

Like I say, for card's most of the time they do not take it seriously. It would even boost your rating like I mentioned previously. i.e. they see so-and-so lines and balance is RM0 with no arrears in payment before in the past 12 months. But for loans then you should be cautious and ask them to remove.

Since you are in BNM to check your CCRIS, you should have there and then ask the BNM officers what's the standard. Maybe you can email BNM and FMB (http://www.fmb.org.my/) to ask their opinions on this.


This post has been edited by b00n: Mar 9 2011, 10:29 AM

I experience the same problem with Alliance Bank. My Alliance Bank credit cards were terminated long ago, but they are still shown in the credit report of Bank Negara Malaysia.

I have written an letter to Alliance Bank, instructing them to remove the record immedately. Or else, a complaint will be lodged to Bank Negara Malaysia.

how about citibank ? need to ask them or write them letter asking them to remove the record also ?

Is that possible that bank may keep the record for 7 years under Bank Negara guideline? Just that procedures and practices are different in each bank for maintainig in the CCRIS record.

they dont say the keep the information, they (alliance) say if you dont request for Release Letter at point of card termination, they will not do anything

and its a BNM rule (i think) once you applied for CreditCard it must be listed in CCRIS as long the card is active and/or there is outstanding balance

as I mentioned, I have ZERO outstanding at Point of Cancellation; for all my cards actually, every month


i only clarified with Alliance when I was out from BNM; no point talking to BNM if I dont have the facts, and Im sure they would ask me to talk to Alliance first before approach BNM


I had citibank in 2003 and terminated in 2004 again with ZERO outstanding at point of cancellation; and it is not listed in CCRIS when I check yesterday

I had used and then terminated DA (CIMB), HLB and Citibank credit cards before, and all of them were totally removed from the credit record. Only Alliance cards are still shown in the credit report.

Email to BNM & FMB to see what their stance is.

Oh goodness..I am going to cancel my Alliance card asap. Got so many people i know also having Alliance. Will tell them too. The funny thing is how the card end up in my pocket in the 1st place is a wonder when i already told them that I dont want the card if they cant give lifetime RM50 waiver. Im a dunggu.. Now I better cancel...........Amex, Maybank is da best for me so far. Gonna cancel all tommorrow.

This is not always the case.


Not sure about Citibank but for HSBC, i can confirm that they will remove your canceled card from CCRIS. Been there done that.


Spot on ! A few other people who frequent the credit card thread told us that their mortgage application was declined due to them having too many credit cards. So it'd be better if the bank remove a canceled card completely from CCRIS.


iZuDeeN is right. Many senior members who frequent the credit card thread would tell you otherwise. You are also wrong about banks that will match your existing credit limit or even better, offering you an even higher credit limit. I wouldn't say high chance but more like 50-50 only. For example, many people have been rejected for the OCBC Titanium MasterCard in the past few months, even if he/she has a perfect credit record. Credit card is a high risk loan business which make it even riskier than mortgage/hire purchase and not all banks are lenient in approving credit card. Public Bank and OCBC Bank are good examples.


Lifetime RM50 waiver ? You mean the credit card tax is it ? Are you serious ?

This post has been edited by MilesAndMore: Mar 9 2011, 08:48 PM

actually.. should be carefull when owning CC..

every week at least 1 call i received with this statement "en <toot> sila berikan maklumat kad anda untuk pengesahan pihak kami bagi tujuan pengiriman kad bla.. bla.. bla.. "

so wonder where they get my phone no?

Now every year must give rm50 for nothing to goverment for each credit card owned..And they are emphasising on helping people clear credit card debs..haha

Since i use card heavilly like buying house, car etc, i thought bank can adsorb the rm50. Its a nuisance to pay for cards we dont even use, Not sure where to pay in the first place for cards like Alliance. Not many branch around. Or maybe I didnt notice their banks..hehe

buying house & car using credit card? or you mean paying credit card & house monthly using cc? there is no hire-mortgage that accept credit card in the first place..

unless you pay for booking fee using credit card; and u mention heavily i assume every few months u buy a new house?????

Not paying for full morgage la. Just the intial d/p of 10%, or booking fees or whatever la..Its heavy to me since its personal use and cant claim from company..

---

Added on March 10, 2011, 1:21 pmYa every year few houses...Change house more than change car... jk

This post has been edited by henryhing: Mar 10 2011, 01:22 PM

After complaining to Alliance Bank, finally Alliance Bank sent me letters of confirmation of card cancellation for all the previous 3 cards I had with Alliance Bank. I will go to BNM again next month to check whether all the 3 cards are still in my credit report.

I din check my CCRIS since JUNE 2010 so I went there yesterday but arriving late.
I will try to check next friday after working.
I want to confirm my Alliance CC canceled APRIL 2010 still in my CCRIS or not.

i can confirm my CCRIS did not contain my cancelled cards from HSBC, CITI, DA/CIMB and HLB

I confirm that my Alliance Bank Credit Card which canceled in last year April still exist in my CCRIS.
I went to Alliance Bank Branch to check and found out that the 2 balance transfer account are still active even I have canceled the card and settle all the outstanding balance.
The CS said she will settle it for me asap.
I believe that the problem occurs due to my previous balance transfer.

This post has been edited by choonkeong: Mar 25 2011, 09:52 PM

Normally once you apply a credit card, you will have a record with CCRIS for your entire life(this is what the bank officer told me) so even if you cancel,the record will still be there.

Wait 1 year the ccris will clear.
If ctos different story

For CCRIS:
If closing the account, the record will disappeared immediately.
If not closing the account, the old record more than 12 months cannot be seen (including the bad record)
There is no such thing of entire life.
Anyway I am working in a bank for more than 5 years.

Should I worry about Alliance & Citibank CC which I cancelled more than 2 years ago appearing in my CCRIS ?

Lazy to go to BNM just to print the CCRIS

Wait until got problem (unauthorized loan/cannot get loan/etc.) that time only go to BNM check CCRIS lor.

Advice u to check. Later u apply eg housing loan.. They see u still
Got facility eg credit card with that particular bank. Some times the bank may forget to update

FYI, my Alliance Bank Credit Card is no longer in my CCRIS but only the 2 balance transfer account number still in my CCRIS after almost 1 year.

I kena also. just want to get a car loan and found out got SAA.
when i call the collection dept, they tell me oh,,because you settle your outstanding after 6 month so put u under SAA. problem is the card doesn't have any trx for > 2 years, and i had call to cancel it. and suddenly get a statement from no where.

so make sure your creditcard is really CANCELED....

This post has been edited by aquamax: Jul 22 2013, 01:52 PM

I have a Balance Transfer Account with CIMB (fully settle).
Glad it does not appear in my CCRIS report.

But curios that OCBC Credit number appear seem to be different in CCRIS report. Wonder the number in CCRIS report is application number rather than CC number

Alliance Bank bad service..and not giving good offer in Mortgage loan also

This post has been edited by Captain Juventus: Jun 21 2014, 11:44 PM