every bank will have their own calculations.

if you score is borderline and you reject by one bank doesn't mean you sure reject by other bank

https://ctoscredit.com.my/ctos-cares/

What does this actually means?

1. The number of credit enquiries on you is high relative to other credit users.

Are you applying too many credit facilities including credit card from various banks recently?

This post has been edited by GrumpyNooby: Apr 2 2020, 01:39 PM

Means many parties did inquiry about your credit health. Why would 3rd parties check your credit health? You can answer this yourself right?

I don't have any other loans. Only credit card loans which I have settled every month before due date (no late payment).
I only have one credit card from one bank only. No plan at all to apply for others.


Yes, I know my credit status. The report says my credit performance points were affected due to the reason above.

I said applying not owning (servicing).

hey folks , hope u all are staying home and safe !! haha... allright just inquiring for a person ( Mr Covid ) who was not so finacially literate and reached out to his friends for advise

Here is the story and scenario :
- Mr Covid has SPM qualification , after finishing his SPM , he used to work in Telemarketing , Call Centers , hotel bell boy and customer service with income aroun 1500 to 2200 monthly minus the commision , tips and bonuses

- Now Mr Covid switch career paths and does his own small business selling food in pasar malam and a small restaurant operator due to his culinary expertise from his mom's home made receipe's and also a small handphone + accesory shop , pretty much self employed with Enterprise company registrations

- he now applies a small loan from the banks to survive as his restaurant and pasar malam is severely effected during the MCO period in the already dire economy from fierce competition from online shoppers .

- his loan was rejected , we ran a CTOS report and found out he has one Credit Card which was in Status Written Off under special attention in year 2015 while he was still employed .


The question is now how do we clear the written off credit card ?

- Can he just walk in to the bank and pay off the written off balance and improve his CCRIS scoring from Red to Green ?
- is there any risk in doing so , being risked by legal or bankrupcy or further fine by the banks ?


Any comments and ideas will be great

hey folks , hope u all are staying home and safe !! haha... allright just inquiring for a person ( Mr Covid ) who was not so finacially literate and reached out to his friends for advise

Here is the story and scenario :
- Mr Covid has SPM qualification , after finishing his SPM , he used to work in Telemarketing , Call Centers , hotel bell boy and customer service with income aroun 1500 to 2200 monthly minus the commision , tips and bonuses

- Now Mr Covid switch career paths and does his own small business selling food in pasar malam and a small restaurant operator due to his culinary expertise from his mom's home made receipe's and also a small handphone + accesory shop , pretty much self employed with Enterprise company registrations

- he now applies a small loan from the banks to survive as his restaurant and pasar malam is severely effected during the MCO period in the already dire economy from fierce competition from online shoppers .

- his loan was rejected , we ran a CTOS report and found out he has one Credit Card which was in Status Written Off under special attention in year 2015 while he was still employed .


The question is now how do we clear the written off credit card ?

- Can he just walk in to the bank and pay off the written off balance and improve his CCRIS scoring from Red to Green ?
- is there any risk in doing so , being risked by legal or bankrupcy or further fine by the banks ?


Any comments and ideas will be great

while waiting for real value added responses, my agar agar kaypoh suggestion is....

Can he just walk in to the bank and pay off the written off balance and improve his CCRIS scoring from Red to Green ?
Can try their CS contacts first instead of direct walk in (prevent waste of time), for your record may have been "locked", call CS to ask for action to do.....
After you settled the debt, it will depends on how fast the bank will inform the CTOS....

- is there any risk in doing so , being risked by legal or bankrupcy or further fine by the banks ?
most probably addition charges will be incurred.....
as there is a minimum owed amount before they will can proceed with bankruptcy proceeding.

hi sifu, if new register need upload ic front or back?

You register using app or web?

website

Sorry, I'm not sure with the web registration.

This post has been edited by GrumpyNooby: Apr 3 2020, 02:58 PM

never mind, thanks for reply:) may i know if use app to register how to redeem the rm25 code?

During checkout, you can type in the promo code: FREEMCO20

This post has been edited by GrumpyNooby: Apr 3 2020, 03:01 PM

oic, if register in app no need upload ic?

Of course still needed.
I remembered that you need to snapshot with your phone front and back of the NRIC.

This post has been edited by GrumpyNooby: Apr 3 2020, 03:15 PM

haha, first time to register
thanks sifu information^^i understand^^

pretty impressive this CTOS app and website.. instant report emailed ... i checked for myself too... RM 25 worth spent..