Good evening forumers..
i recently applied for housing loan in penang around rm144k but rejected by ambank..
i check my ccris report at BNM and my record were clean..'No Record'..the front desk lady told me that if in the paper stated 'No Record' then your record are clean. Then i told her about my problem and she said try check my ctos score online. So i did that evening and need to paid rm26.50 for the report. Sadly true the report stated that i have a weak score '561'..I dont have credit card nor any loan except ptptn which left another rm1500 only...But i once kena with celcom on 2016 because i didnt pay my bill for 3 month..but i already settle it in 2016...my question is can anybody tell me WHY MY CTOS SCORE IS LOW and how to get it higher...i really cannot brain this...Otai please help...TQ

Apply a credit card and make sure you pay every month promptly.

1) Not you cannot brain, but you still haven't brain enough yet
2) Those celcom bill is small matter, won't affect your score, most of it will blacklist you from Telco industry
3) PTPTN wise, since only left RM1500, obviously it also won't affect much of your score

Now comes to the objective of this
1) Your income = Your total score
2) Your expenditure and your repayment behaviour determine your loan application. By what and how? credit card / fixed deposit / personal loan / hire purchase
*the more you have , the easier the application would be

No credit card is an issue...get one, use it.
It's like bank do not know your behaviour, cannot gauge how well you going to pay on time.
And your promptly payment to PTPTN does not count haha...

Well unless you have 100k sitting in your account then different story lol

This post has been edited by tekoo: Oct 30 2017, 10:04 PM

U don't have enough debts with banks. Must start owing more than only can qualify.

Many years ago, I don't even have a CC or PL, HL all rejected by banks despite have good income. After applying CC and PL, every bank start calling.

no record is the same as bad credit rating

since bank has no way to assess your credit worthiness

your PTPTN got restructure before? if yes, then your score 5xx is very normal

Contrary to popular belief, CTOS score is actually how much 'worth' you are to the bank.

This mean that if you diligent with money, never have credit card etc, your score are low because they know you only use a bit and they can't get interest money from you.

However, if you have many loan, multiple credit card and pay most if the time, the score is higher as bank want to do business to you.

So look at it positively. Just apply CC and talk to back office. If you have good saving, your father also have money to support the house, approval comes very fast

hahahaha . But why mamak?

nope 100% malay...i try to apply...

CCRIS is where bank will look at your payment history for the past 1 year on all your debts registered with bank. Bank will look and justify if you are a good pay master or bad pay master.

If you have a card and doesnt use it doesnt mean you are a good pay master. Banks always prefer someone that use their credit and pay on time. Not those who didnt use or overuse or did not pay up. So even if you DONT NEED to use your card, please use it for petrol or phone bill or whatever and pay it back monthly on time. Bank will love this type of borrowers..

CTOS is where bank check if you have LEGAL issues with any financial institutions, bankruptcies, any legal suits with any parties... NORMALLY sangkut when being guarantor, owing bank debts too long and telco.. this will only appear when banks, private sector take LEGAL action agains the borrower.. thus affecting the score.

If you paid for your CTOS you should be able to see where it sangkut, if you have any legal proceeding and other relevant info.. i forgotten which section...

So conclusion,

1. Having a credit card but didnt use - bank dont like
2. having credit card overuse or didnt pay on time - bank dont like
3. No credit card/ loan history - bank dont like
4. Having much money in your bank but dont have payment history or card - bank dont like. (reason is simple, if you have so much money why u still want to borrow money?)

so paling simple is apply a card, use and pay on time every month...tell the bank that u will use their facilities and pay on time, then save some money in FD to tell the bank you have money in your bank as back up funds in case you lose your job..

Bank will love you!

are you able to share your full ctos report for us to see how we can help you further?

I once applied Loan from 7 Banks, and all the Banks begging me to apply from them.

Truestory

I face the same. Since no record they reject me bacoz cannot see my payment behavior. Try apply those bank that u have saving with them

CTOS reports will state the reasons for the rating you get. Did you check them?

Free Credit Score Check

Link above is from imoney.. they let you check your credit score for free.. quite detail but dont know when this free things will end... Check it so you know where you're stucked..

I am at good cause i late payment once recently... forgotten to pay my card...