must be officially cancelled. Not you call to cancel and someone from retention dept will call you back in 1-week to persuade not to cancel.

so if any outstanding payment clear, wait until 12 months the credit report will be clean ?

This is my understanding, but we can have our sifu, Faiz wild_card_my to clarify.

Haha , sifu wild_card_my . can you clarify above statement ?
if the outstanding payment is clear from any finance institute, after 12 month the credit report will it be clean and able to apply loan or credit card without any hardest ?

Hello, thanks for the summon. Can't keep up with the postings and replies in this forum. Very exciting!!

Well yes, and no. For credit cards, all you need to do is to start paying the minimum 5% each month, that way the bank will not MARK your CCRIS. So your outstanding can even be RM100k, but as long as you pay RM5k a month (and subsequently lower as your outstanding reduces as you pay them), the bank would consider that a payment for that month has been done.

For housing loans, car loans, and personal loan, or any other TERM LOANs, you are expected to pay the installment in full every month, otherwise they would mark you as having a late payment in one of those months.

Now going back to your question, let's say you start being a good paymaster starting this month (December 2014)... your late payment records in January 2014 till this month would stay with you for a year on a rolling basis. Next month (January 2015), the January 2014 record would be erased... The month after that (February 2015), the record for February 2014 would be erased. And so on. So if you are a bad pay master till November 2014, that record will stay with you until Novermber 2015

To erase this, you need to make a full settlement AND cancel the account, wait a while for the bank to update that info in CCRIS. Once the record of THAT PARTICULAR LOAN ACCOUNT is gone from the CCRIS, no banks would know how lame you were as a paymaster until you start acting up again haha

pay your dues people.

This post has been edited by wild_card_my: Dec 23 2014, 08:30 PM

well clear bro!
Because i was kinda bad paymaster, and currently have a outstanding payment from aeon (RM 1000) and late payment for my hire purchase.
And i was applying the credit card, but don't know will it be approve or not.

So, once cancel account, bank will update CCRIS report on every 15th new month as mentioned by one of senior member here?..

Afaik, the banks are now required to submit their CCRIS data to BNM by 10th each month. It was 15th earlier.

Oh.. so CCRIS will be updated every 10th of the each month?

let say my house loan is on every 25th every month. but i pay on 2nd of every month. will it be updated on 10th of the same month? or CCRIS will be updated on the next of 10th month?

The reporting is based on the position of the last day of previous month.

This post has been edited by Jasoncat: Dec 24 2014, 10:49 PM

for those who are in AKPK programme, does it means one still can open saving account?

This post has been edited by aromachong: Dec 27 2014, 08:27 PM

I believe still can...

My card have been terminated by the bank itself and convert to installment plan but in ccriss is under restructured . Do i still need to get official letter from the bank about the card or after i settle the amount the card will be active back?

few days ago i applying for Hong long bank credit card, after submit all the docs, 2 days later my application been rejected.

i had check with my credit report that i had total 3 loan , hire purchase pending for 2 months , Aeon credit total loan amount RM 1100 (unpaid) .

Would the Bank check for CTOS also while apply for credit card?

Yes, they'll and they should.

So those telcon will be in CTOS?

Yes.

unpaid means default payment? 3 loan but u onli stated 2 . 1 more is? clear ur aeon if possible .

Means that hired purchase and aeon credit only.
the hired purchase one it doesn't have any problem , just only the Aeon credit one.

If Aeon is 1 thn should be no problem . if 2 or 3 thn settle the amount asap . or minimum payment