Nope, no loan or any credit card balance.

yup
now is the waiting game
waiting for the cb to enter my card

some banks prefer you to have loan so that they can know you have the monthly capability for payment. not having any loan is not an advantage.

having loan just to demonstrate i can pay the bills? doesnt net income show the capability to do so?

anyway, i'll just move on to other card to give them some biz....

The loan kind of gives a impression that you have been approve by other banks, and the ccris will show u are a good paymaster. Personal loans are no good. Car and house loans with good record is good. If a 1 year old boy has his name in the house put in by the parents, and is paid consistently past 20 years, the kid got a 20 year history compared to someone at 18 who just open an account.

Just submitted mine last Friday... hopefully will get approved!

lol at this statement: 'If a 1 year old boy has his name in the house put in by the parents, and is paid consistently past 20 years, the kid got a 20 year history compared to someone at 18 who just open an account."

where is the logic?

I applied online on Monday and got the card the next Friday. 10 working days but that is most probably due to my existing car loan with Public Bank that made this faster.

Your income is above minimum to apply for the card yet you have no loan or any credit card balance? You must be cash rich then since you have no home loan, no car loan and no credit card history (I'm just assuming here since if you have credit card payment history, you should not have any issue getting the card).

They usually prefer applicants with existing loan to show payment pattern.

This post has been edited by sleepwalker: Aug 3 2015, 09:56 AM

The logic is off but what he is trying to say is that the banks would prefer some form of loan to show payment history. That is all they have to work with since they don't get to meet the applicants. If they look into your CRISS and it shows blank (meaning no loan and no other credit cards), they won't know whether you would be a good paymaster or not.

i understand that, but put house name to newborn to gave him 20 years CCRIS history is the funny part...

Do they even allowed a child's (below 18) name on the S&P ? How to sign on the S&P ?

This post has been edited by ronnie: Aug 3 2015, 01:21 PM

I have credit cards and made payment promptly.

As for loan, I just settled my loan not to long ago. So all the payment transactions should still be in the history

Did you send them the documentation that they require after you submitted your application online? I submitted my application online on 20th of July and got my card on the 31st of July.

And he was also wrong about CCRIS too as CCRIS only hold your payment history for 1 year for other banks to check. So a 1 year example would have been enough already.

bad payment record such as bounce cheque, bad cc repayment etc holds longer, bankruptcy last forever

haha i based it on a bank report in USA. paiseh but abit of history is good

My dad situation same as you, just settle housing loan last year, no bank acc at Public Bank but bank approved his application. Maybe you can try to appeal

Even bad repayment is only 12 months under CRISS. That is why people who sorted out their bad payment issue are told to wait 12 months before applying for any new loan to avoid rejection. Bankruptcy and legal issues would fall under CTOS.

To appeal need to know why they reject in the first place?