Dec 31 2012, 11:20 PM
QUOTE(ForteBlack @ Dec 31 2012, 08:44 PM)
In my opinion, that is PARTIALLY TRUE.
TRUE = When you have VERY HIGH outstanding credit card balance, you are deemed to have lesser ability to make repayment because it is assumed you have to pay 5% of your outstanding credit card balance every month.
However, you can justify to the loan officer when applying for loan.
Personally, I have credit card outstanding balance of over RM 50K with 5K salary but still no problem getting housing loan (BLR-2.4%) and car loan (2.6%) (among the best interest rates during that time) approved.
FALSE = Generally most Balance Transfers do NOT appear anywhere in your "credit report" (CCRIS).
but there will be a outstanding balance stated there for each bank you oweTRUE = When you have VERY HIGH outstanding credit card balance, you are deemed to have lesser ability to make repayment because it is assumed you have to pay 5% of your outstanding credit card balance every month.
However, you can justify to the loan officer when applying for loan.
Personally, I have credit card outstanding balance of over RM 50K with 5K salary but still no problem getting housing loan (BLR-2.4%) and car loan (2.6%) (among the best interest rates during that time) approved.
FALSE = Generally most Balance Transfers do NOT appear anywhere in your "credit report" (CCRIS).
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