No, as when bank evaluates your credit conduct; you would have failed.

not to act like an expert, just to share my working experince as an auditor in banking and investment industry.

In your scenario, you're gonna have unfavourable credit reputation with banks, being categorised under high risk customer. they wont care how your story is, everyone has their own financial story, they only work on black and white.

bottom line, you still can apply for bank facility provided you can proof ur earning power, 3-6 consecutive months pay slip is the best, if not with fixed deposit cert(s) of a few thousands, preferably more or land and property rights (property inherited from elders) hoping to lower down your credit risk. However, if you wanna get a big loan approved ie housing loan etc is still difficult

My suggestion, you have to establish your own credit reputation from ground, get a very simple credit card, dun spend too much and pay every month on time. credit card is the easiest to get approved since credit card sales are dropping alot which is one of the bank's most profitable product. then with a couple of years of good paymaster record and income proof, few years working experience. you increase your chances to get bigger loans approved. These are the "black and white proofs" all banks are relying.

If I previous have credit card in which I unfortunately unable to settle the outstanding and it has been 4 years i unable to settle it till now. Definitely, my records will be in CCRIS until I settle the outstanding and inform the bank to clear my name from CCRIS, right? would my previous outstanding records for that 4 years would be appear in CTOS?

Yours is known as a written off account. Anyway, the current situation is after you've fully settled the debt, most bank would drop your record after 6 months.

However on CTOS, you'll need to go to CTOS yourself to check and after you've fully settled; get the settlement letter to ask CTOS to update your record.

I still unable to do a personal loan after i updated my CTOS.My CCRIS is clear.One thing that baffle me is my home loan approved 4 months ago.

It is because of different underwriting criteria from bank to bank.
Also, there's a big difference between what is known as secured loan (properties, hire purchase) vs unsecured loan (personal loan, credit card).

Housing loan you are able to secured because they have the property in hand. Personal loan, considering your pass records, they might think twice. So it's different bank different underwriting policies.

so wats the grace period before i can apply for PL?Any bank that dont use CTOS service?

Again, it's different bank different policy whereby I wouldn't be disclosing here even if I know.
CTOS, I think many banks are starting to do away with them because their charges is higher then before. As far as I know, many banks would only check CTOS if it's a marginal or suspicious case.

I have a question...i applied credit crd from citibank and it seems like been rejected...when i asked them the reasons...they mentioned..please go to BNM...and check...

well i managed to get my ccris report..only my diners card have 1 month lapse...but i have settled it out..last week...other personal loan..all cleared with '0'...and then the officer asked me to check with CTOS...coz she couldnt see any problem with my ccris..

went to CTOS....again there's nothing written in the report...but the girls overthere mentioned that...i'm not the only one who is facing such issues...so many people...

any idea..where can i check again ? really need cc as i need to travel soon...

u can always apply other credit cards im sure
btw, im NOT credit cards sale agents.
but i used HSBC credit card which no problem at overseas

Hi everyone,
if i have a credit card in uk hsbc, i did not pay back for few months. if now i check CCRIS and CTOS, will appear also? (assume in malaysia i no loan), so my CCRIS and CTOS will be clear right? Thanks
if in uk hsbc, i bad score, so now i am in malaysia, apply hsbc got problem? or i apply ohter than malaysia hsbc, let's say public bank should be no problem?

Another doubt is if i check my CTOS is clean, no need to check CCRIS? thanks

This post has been edited by mayxin: Feb 21 2010, 09:08 AM

Normally bank will chk both CTOS & CCRIS, CCRIS shows which bank u have facility with, ur paying pattern, whether u lapse in payment.
CTOS chk will show if any one sues u, even if not the bank suing u it stills shows.

CCRIS & CTOS is only within M'sia.

I do come to know tat some ppl came back fr States after bursting their CC over there. Their intention in not ot go back there coz u name will be black listed there ody.

hmmmm... anybody knows about FIS?

at last...i managed to get some info about why my cc application been rejected...well..now another bank too rejected me....because i'm tired to go to BNM and CTOS asking for reasons as they would replied...no problem with your account...grrrrr....
she shared with me..regarding some payment lapsed for quite sometimes for my other cc...more than 4 months...i was stunned....
i did..didn't make payment for quite sometimes...4 months due to some problems...and then i made full settlement...and canceled the card last year in october....

so..if i made full settlement...my record is still there in FIS? how frequent the info in that system will be updated by each bank? what are the info kept within the system?

anybody can help me to answer ?

It's not FIS. Anyway, didn't heard about any FIS.
It is CCRIS. CCRIS contains 12 months of your payment history.
So although you've settled, they can still see your record.

But come to think of it, once you canceled your card, they shouldn't be reporting your record any more. Or there could be a grace period where they would still report which I'm not too sure about it. If you want confirmation, then head to BNM and ask for you CCRIS report and let them explain to you in detail.

Btw, usually when you laspe 4 months; there would already be a letter of demand sent out. It's a legal letter.

its FISS.. i'm not sure bout FISS, but the NPF account data will goes to BNM, and the BNM will update CCRIS and FISS record.

For account which payment due more than 3 months, they already classified them as NPF account. Bank will send the data to BNM, and this info will appear in ur CCRIS record. The bank and CCRIS record will be updated after they settled the total outstanding amount and when the customer pay their account subsequently with no delay 3 months after that..

This post has been edited by magna_voxx: Mar 23 2010, 12:37 PM

are there any banks who do not check ctos record?

i thought it was debated and had been banned or something.

really frustrating lah..now is trying to secure a home loan. so difficult.. ccris record is ok (went to bnm and printed the copy myself)

bank will perform ctos check. some bank will disclose what criteria in their measurement for the loan approval, like they will do ctos or cccris checking or not.

Try consult with ctos personnel in charge, if you don' have payment problem since you already cleared it you can ask ctos to update the info. sometimes their record not updated. You need to furnish them the proof of payments made for the respective financing IINM.

FIS is normally use by the bank for auto finance loan processing. They can see type of vehicle, loan tenure, which finance center and whether you're the hirer/ guarantor for a particular the vehicle. Each checking in FIS will leave the finance center name on it thus other bank will know which branch already do checking on you.

FIS is the reason why other bank can know which bank you have submitted your auto loan.

Each n every bank hv their own criteria to evaluate the borrower. facility been rejected not because of CCRIS or CTOS. Maybe u did not meet the minimum requirement.

CCRIS is to check on payments record n total facility.

CTOS is check on bankruptcy n legal issue. It will still shown even if settle. It will update on the on going legal issue status as well.

FIS, as wat elv2k say... banks will only conduct checking when u apply for car loan or machinery loan.

If u r applying for credit card, make sure u meet the minimum requirement. if still reject, maybe yr commitment is too high.

in your ccris report, the whole 12 month, is there any number exceed or equal to 3? (i'm referring to payment due.)
if yes, you are under "high risk category"
and your cc application mostly will be rejected.

Pls provide a clean 12 month ccris report to get a loan/cc/whatever to approve.

This post has been edited by yssee85: Apr 9 2010, 03:01 AM