Refer your snapshot you have taken. It is showing last updated is balance as of August. Therefore that is not the most updated status.

So in the event you have the latest CCRIS report and is not reflected as it is; you have the right to complain against the institution whom reports that credit facility. You may also go through BNM complaint department.

Think of scoring as an exam paper. You have one question correct, 1 points will be given. If the question is harder, maybe 2 points instead of 1 points.

So score depends on a lot of variables and information. Each Credit Agencies - CTOS, RAMCI, CBM has engaged 3 different Score Model Companies - FICO, Experion, Transunion to help them analyse our bureau data and try to come up with a generic bureau score. Generic means it is not meant for specific purposes. This is also part of BNM initiative and project to introduce bureau score to the general consumer.

We are still quite infant unlike many more matured countries already having a bureau score and uses it as part of their application assessments. Example - US, Singapore, HK.

So previously, banks used to connect direct to BNM CCRIS to extract CCRIS information of an applicant. Now these 3 credit agencies are trying to sell to the banks their services, i.e. extract CCRIS through them and have scores on-top of the CCRIS information. As far as I know, no banks are using them yet for bureau score; but most banks will be exploring to see how they can use the scores.

So it is a misconception here stating that if score is high means applications will be approved. Although conceptually that is the case; but bear in mind each banks has their own underwriting policies and criteria. And most have their own score model for specific purposes. That is also why I highlighted earlier the bureau scores developed now by the agencies are generic scores.

Specific score models are used to assess different type of loan facilities. We all know ppl applying for housing loans, vs personal loans vs hire purchase vs credit cards carries different risk. So thats why we will always see complains like "why they approve me this facility but they do not approve me that loan" etc... Because one may qualify for a credit card does not mean one qualifies for a personal loan because of the different risk assessment.

Therefore even with this generic bureau score, banks will still use it just as an overlay towards their current underwriting criteria. Most likely those that they previously rejects, now they will look at the bureau score to determine whether or not they can approve. Or probably build in other assessment criteria.

From my view, I think most banks will only fully utilize the bureau scores by next year. But again remember 3 companies engaged 3 different score model companies; and doesn't mean each which gives equal score or rating.

If interested, you can do a research on FICO Score, Experion Score and Transunion Score. Then you will see US is more geared towards FICO, Transunion more prominent in Asia since they help a lot of countries set up credit credit bureau. Experion is also quite famous in the Asia market.

So to me, no point wasting money to buy "credit report" from these companies yet as one can go pull their CCRIS information from BNM for free. Unless one is not comfortable with their own CCRIS record and wants to know what are the chances bank will approve the loans.

But common sense dictates common things to look out in CCRIS is of course the payment history, how much personal loans or cards, what is the utilization on cards, what is the total debts (DSR). Imagine you are the one lending money, you will obviously look at those item also. So it is another misconception to say just because CCRIS shows 0 0 0 0 0 in the payment history means the guys is good and loans should be approved. But if the guy have many cards and all more than 70% of the utilization, would you want to borrow the guy if you are the one lending the money. I know I will not as this is high risk. Or if you see the guys have many personal loans, would you want to lend to him? A lot of things are just common sense. This gets more complicated depending on whether the applicant is a salaried person or a self-employed person and which job industry; age groups etc.. That's why specific scores are developed to assess all these as opposed to bureau score which is generic only looking at CCRIS information.

Put yourself in the shoes of lenders assuming the money is yours to lend. So a lot of ppl blame the banks for not lending, but did they ever think if the money is theirs will they themselves lend it out.

Both incident also you need a formal police report. p/s this has nothing to do with CTOS.

(i) Identity take over with IC opening Digi account:
1. Make police report
2. Complain to Digi to delist from their database
3. Approach CTOS asking them to remove the data post 1 & 2
4. Bank nowadays hardly rejects applicants because of default in utility bills, so no worries. But if you are concerned, upfront you can inform the sales officer to file in the police reports for loan underwriters to take note.

(ii) Credit Card fraudulently charged:
1. Complain to the bank and file a dispute. They will cancel your card immediately and issue a new card.
2. Most likely they may ask you to also file a police report.
3. Always remember to follow up with the bank on the dispute resolution. If possible, request for a formal letter from the bank stating they are investigating that fraudulent transactions (not sure whether banks will give or not).
4. Nothing you can do on your CCRIS record until investigation is over and you won the dispute. So once dispute concluded, request them to rectify CCRIS accordingly; if they say cannot, ask them to again formally issue a letter on this incident and conclusion of investigation.
5. If you are applying the loan while investigation is going on, pre-inform the sales officer on this incident and furnish him with relevant documents (police reports, dispute claim - formal letter from the bank).

If investigation reveal it is not card holder's fault, then card holder is not liable.
If investigation revealed it is due to card holder carelessness or negligence which led to the fraud event; max liability is RM250 (there was already a precedence set back in 2009: refer a paper by one of the prominent law firm - http://www.skrine.com/liability-on-unautho...it-card-charges.
If investigation revealed card holder was also the culprit, then card holder is fully liable.

This post has been edited by b00n: Oct 12 2016, 11:08 PM

http://www.skrine.com/liability-on-unautho...it-card-charges

Key word is last sentence: "deal or transact with them directly". Under CRA act, instead of subscribers (commonly banks) go to CCRIS to extract applicant's information, they can also go through Credit Reporting Agency to obtain. Especially since now Credit Reporting Agency provides additional value added product known as "Bureau Score". Notwithstanding that, every time you sign an application form for card or loans; looks closely at the T&C of the form. You already given consent to the banks to conduct "credit checks" on you not limited to CCRIS.

Special attention largely means your credit facility is written off and treated as losses to the bank from you not repaying it.

And the 1-4 I thought is very clearly articulated? Which one do you not understand?
1. There is serious Delinquency (over 90 days past due) or adverse record filed.
<<must be due to your special attention account, or any other credit facilities with repayment string shows >4?>>

2. It seem that you have recently missed one or more loan repayments.
3. There is Delinquency (past due with no minimum payment) in your credit report.
<<anything from the repayment string showing 1 and above?>>

To clear the myth, CTOS score does not really mean anything as I don't believe any banks are using the bureau scores offered by the 3 credit agencies.
However based on the last post by a forumer, 850 is the max for CTOS score which is equivalent to 100% in an exam. So now you calculate yourself what does 555 means.

But specifically for your case, if you are sure that you did not miss any payments in the last 12 months excluding PTPTN; then go ahead and apply the loan. As for your PTPTN, did you restructure your PTPTN after paying the 25%? and did you had any letter from PTPTN?

Btw, wow 25% only out of the arrears, good luck in financial planning. Personally I would definitely not lend you considering this fact alone.

To clear the myth on score, here are some pointers.
Ones record can be classified as either thin or thick files.
Thin files generally means there is not enough history read on a person, for example only got a new credit facilities, or having only one loan.

Therefore generally there will be an "exclusion" on thin files because not much experience. Simply put it this way, think of yourself as a lender whom you are lending out money. So comparing one which is new to bureau (i.e. not much record or none at all) versus someone whom you can see there are few loans and can gauge their behaviour; how would you treat the individuals? It is just common sense, i.e. if one hardly have any credit records, if you are to lend; to that obvious you are putting a higher bet on that person. Versus someone whom you can see have experience then you can gauge what is the likely behaviour, e.g. all clean payment? High utilization? Many unsecured facilities? Does the income support all the loans? etc...

Score simply weights out everything and puts it into a number format. Giving weightage to every possible attributes (like I mentioned above). Therefore the lesser the experience is in bureau, the harder to score and hence probably either lower score or being classified as "exclusion". The score which is calculated will be cross tabulated to probability of default. Usually the higher the score, the better Risk profile one is, i.e. lower probability of default.

This post has been edited by b00n: Nov 22 2016, 01:30 AM

Think of it from logical standpoint. Comparing a 2 years credit experience versus one which hold credit facilities of 5 years for example, which one will have better credibility? And like I explained before, score doesn't only work on one attributes. Probably there are more than 10 attributes which goes into the calculation of scores. So age of loans is probably one attribute and what is that weightage of score on that attributes, only the score developers will know. Every score attributes will gives certain probability of defaults. It's all about statistics and probabilities. Therefore you have to understand statistics and probabilities are also usually based on the past experience of the populations studied.

First thing first, once an account is closed, i.e. settled; no one will know you had the loan before. Today if you go extract your own CCRIS from BNM and look at the report, if you have memory loss; by looking at that report, you will not even know you HAD a car loan before. So similarly, score also only works on existing information on hand. Similarly if you obtained your own report, you can only make conclusions based on the information on hand, which is without the car loan. And generally when CTOS recommends diverse mix of loans, basically in credit fundamentals loans can be split into a more general 2 categories. Unsecured loans (card is unsecured) versus secured loans. Unsecured loans are generally more risky. So for someone to hold mainly unsecured loans and many unsecured loans most likely the score weightage will be lower versus someone whom holds secured loans.

It is somewhat good you know your own limit i.e. you have assessed your own situation and conclude that you yourself may not be able to support a housing loan now. But again, with 2 credit cards now in CCRIS; as time goes by the score will generally improve as well due to the maturity of the tenor in holding the credit cards like I explained in my point above.

I supposed the suggestion i increasing credit limit is also one of the attributes which CTOS score takes into consideration. i.e. card utilization. So if limit is high and considering you maintain your current spending; your card utilization will be lower. And hence consider a person with high card utilization versus a low card utilization, which one would you lend your money to? To that obvious you will be afraid that the person with high card utilization may tip over earlier. So assume your limit is RM2k and you use RM1K monthly, then that is 50% utilization. Versus if your limit is RM4k, utilization will be 25%.

Like I mentioned, it is good that you ponder on all the above which is a good start on responsible financing planning. But remember, I think I mentioned once before: bureau score is considered generic score and hence is not targeted particularly at any type of financing request. To put it in simple terms, to develop a score, what they will need is to take a certain set of populations (maybe 1-2 million records); look at all the possible characteristic/attributes (e.g. utilization, number of loans, number of cards, payment history, secured vs unsecured, number of loan applications, etc...) then assess what is the probability of defaults. Each individual characteristics/attributes are given certain score weightage then finally added up to give one final bureau score.

Example: Got secured loans = 5 points, no secured loans = 0 points. therefore by you not having a secured loan, you are already 5 points lesser than a person with secured loans.
Another example: Card utilization 0-10% = 20 points, >10-30% = 15 points, >30-50% = 10 points, >50-75% = 5 points, >75% = 0 points. Therefore going back to my example on credit limit above, if your utilization is at 25% due to limit being at 4k, you would be at 15% versus limit at 2k with 50% utilization at 10 points. i.e. 5 points more. If your limit is increased to 10k, i.e. utilization is now 10% (assuming same spending), you are already 10 points better off: 20 points versus 10 points of being at 50% utilization.

p/s: above are just illustration examples. I have no clue what is the attributes used nor the score weightage by CTOS. It's just quoting simple example/illustration for easier understanding. Go search up or research on how scores are being built.

To further complicate matters, most banks have their own decision scores which is specific to each type of lending facilities they offer. So a credit Card application will have scores different vs mortgage application scores. So doesn't mean a guy whom was approved in credit card will automatically qualify for a mortgage, and vice versa. Similar score built as per my explanation above; however it is targeted specifically at the probability of default in the bank's own credit card portfolio (in the case of card score), or bank's own mortgage portfolio (in the case of mortgage). And btw, CCRIS history is already used in Bank's internal score.

The only reason now banks are exploring the usage of bureau scores developed by all the 3 credit agencies is because these credit agencies have a more sizable populations when it comes to building of a score model whereas banks only have their own internal data. More importantly for banks are the ones that they have rejected upfront during application stage, they will not be able to know whether that guy will perform good or bad in CCRIS. Therefore most banks now are exploring on the usage of these bureau scores as a supplement or overlay to their internal score.

This post has been edited by b00n: Nov 22 2016, 01:36 AM

Guys, lets all be clear. CCRIS is Central Credit Reference Information System which is managed by BNM.
Every FIs under the purview of BNM will need to report loan information of their customers into this central repository.

RAMCI or CTOS is just what we called a credit reference company. To assess customer's repayment behaviour of loans is still from CCRIS. RAMCI, CTOS and CBM is licensed by BNM to access CCRIS with customer consent. Therefore their source of information is still from CCRIS.

So do not confuse with RAMCI, CTOS, CBM.

What they additionally gives are trade-lines provided by some subscribers of theirs like telco. Even courts mammoth if not wrong. Also, they collect public published information on legal actions. The latest which is the hottest one making everyone confused is they recently developed Bureau Score by analysing CCRIS data (BNM gave them the data to build bureau score, to the obvious did not disclose customer names and ID to them).

Only principal and joint borrower will have the loan tagged in CCRIS. Guarantor will not since guarantor do not need to directly serve the repayment (which is until the loan goes bad).
However under the summary page, FIs will still know how much amount you have acted as a guarantor for; although not knowing the specific loans nor how was the repayment.