Hi sifu,
I would like to understand why my cc application rejected.
I got 570+ score on ctos, which is below average.
I dont understand how they evaluate my credit score.

Bank rakyat gave me too much commitment as reason, and cimb i tried on the spot approval, they told me low credit score as reason.

Currently i dont have any loans except ptptn, which i have restructed last september and paying 200 (30y), current balance 62k.

Is there any ways to increase my score, because i wanted to apply for mortgage loans in near future, maybe 3rd Q 2018 And here i was thinking simple CC also cant approve, how are they gonna approve if mortgage loan 😅

Hope someone can shed light on my problem.

increase your income and reduce your commitments to increase your score and make sure you have prompt repayment history.

This post has been edited by yeeck: Dec 22 2017, 03:43 PM

your education loan is the reason behind why banks rejected your applications.
go prove them wrong by trying to be someone who have the capacity to settle everything in one off and still have thousands to save with them...

Did you skip payments prior to restructuring your PTPTN loan? If yes then that would be the reason for it.

To share with those who says "capacity to pay/settle everything" +"good payment record", some banks' credit card approval policy may not bother with such. Other banks, especially those that U had/have a mortgage or savings/FD with - much more flexible as they can literally "see" your finances.

eg.
Recently, Alliance Bank & BSN rejected my credit card application due to "too high exposure of credit cards' outstanding". FYI - i do have a high outstanding BUT these are all 0% balance transfer, easily covered and my CCRIS has no 1, 2 or 3 flags

Thus, payment track record / history (yup, i had accounts with Alliance & BSN before) +ability to payback may not outweigh other factors.

i dont get on reducing commitment. only ptptn i have, and i am paying less that 10% of my income for that.

i dont have much in epf, just started working (<2y), and all my saving are for future (wedding and dp for house).


i took diploma and degree, so they blacklisted me for dip loan. i didnt miss any payment from 1st month of working.
in order to get good ccris, which i realised after paying 1y+, then i restructured my loans

do you have any idea how they judge our finance other than payment record?

i agreed, they tighten the rules again recently. for example, your newly approved credit card might sound a flag to them. so nowadays, they take into consideration on how many credit cards you have... like if you have 5 credit cards with total credit of RM60,000... they might consider this as quite risky as well. norm c.card = 3x of your monthly income... but when you have 5 cards x 3 times = 15 times of your monthly income.... they will consider this as well.

above are all my experience and assumption, because i was asked about one of my recently approved c,card when im applying loan for my house.

like that i cold storage liao.. i've >10 cards
dang.. no more freebies (free advert to RinggitPlus no, i'm not affiliated with them ) until i cancel some

but on a serious note, it seems only some local banks are more "scared" and have NO processes to allow applicants to prove liquidity & net worth. When i applied for Alliance & BSN, i also applied for 1 other as well - no issues with that bigger bank, thus, looks like very different processes / criteria & flags

Looks very obvious to me that CCRIS is just the basic + the more elaborate or heavier weight of judgement is each banks' internal policies. Sorry bro/sis - i dont have the details of each bank's policies.

This post has been edited by wongmunkeong: Dec 22 2017, 05:24 PM

if all depends on the 'risk officer' i think. thats what i heard from my boss before. i have a bumpy road as well when applying loan 2~3 big local banks rejected my car loan, but only small local bank approved.

recently, i apply a loan... but before that, i apply for a new c.card due to freebies... then the bank called up and ask me about the newly applied 'credit facilities'... i said i didnt apply any, and they said yes you have with xxxx amount... and its my c.card limit... damn... so im in the mist of cutting down my c.card, especially those under utilised like 6 swipes and waved year fee.

This post has been edited by klthor: Dec 22 2017, 05:48 PM

what banks have you tried?

last year and this year i have apply cc for ocbc, cimb, hsbc from promotion booth ..take the free gift ady

but ALL REJECTED .... I also can't figure out why.
Receive the REJECT LETTER, but all bank letter only told me that unable to proceed. not further telling any reason.

my CCRIS, CTOS all "0".. good in status.
all on-hand loan,
3 credit card,
house loan
pay in time and full ... never delay.

still wonder why can't apply ...
though want apply new and cancel the old credit card ..
switch bank ...
sadly can't proceed

Alliance is one shitty bank. Rejected my credit card application for no valid reasons, while other banks can approve.

u havent take account of the DSR ratio too.

abiliity to repay doesnt mean much. having cc and loan, and any other debts contributes to higher commitment vs income. possibly bank wanted to protect their own interest rather than risking it by approving you.

Will the central bank logged how many CC applications a person made?

Yes. Especially most recent credit facility applications including CC.

Alamak! I presume that this includes CC card applications I made at the shopping malls as well? The instant approval ones, where they get my EPF statement and determine I got layak or not?

As long as it has submitted to the bank database for assessment. It should be counted.
Not restricted to CC only but including personal loan, hire purchase, housing loan and etc.

Alamak! And by this, surely it includes the non-banks as well, like Aeon, etc...

ts might just be unlucky
i believe after bank have met their quota they will be very choosy
maybe u try again next month u might get it

if my credit card rejected by bank. how about after that apply for property loan, will kena affect? same standard ?

This post has been edited by squrce: May 17 2018, 09:35 AM

Same procedures.
They'll go through similar SOP of assessment: CTOS, CCRIS, DSR and etc.
House loan could be stricter.