Hi all,

I pay my credit card (about 30-40% every month) but sometimes 1-2 days late. However, if I pay off everything now (outstanding balance is RM0 on all cards), will I still run into CCRIS issues if I apply for a car loan?

Yes it is a good idea to register so you can get your username and passcode, that way you can check your CTOS periodically.

As a mortgage broker I will tell you  that the banks will check and report on your CTOS anyway, so you might as well keep yourself updated by registering your CTOS

Thanks wild card... Wah, mortgage broker, good! Then I know it's expert advice

I know banks will check anyways, what I'm worried is that, will CTOS pay EXTRA special attention to you and dig up more dirt after you register? 

Hi all,

I urgently need advice, I'm planning to purchase two properties at once. (just a chance of timing, not because I'm rich ) One bank already approved my loan application and issued an offer letter.

I checked my CCRIS recently and under application for credit, there are two entries from that bank and it's stated 'Pending' and 'Approved by FI'. What does that mean?

I'm in the middle of applying for a loan for the second property, so will this affect my chances of getting the new loan? I'm just afraid the new bank will think I'm over stretching?

Pending means the banks is still processing or the processing got halted pending for new documents.

Approved by FI means approved by financial institution la, means the loan has been approved, but not yet accepted.

Since the loan has not been accepted yet, it may be possible to apply for another loan and the bank you are applying from will not take the other "approved by FI" loan into calculation of your commitments when you apply for a new housing loan.

If you havent applied for any loan for the other house yet you can let me know and I will help

Ahhhh... I see, FI=Financial Institution.... doh! Thanks for enlightening me wild card! Will definitely consider your help if I have trouble with the second loan.

Actually i've already signed the offer letter for the first loan (mistake! never rush into signing offer letters!) just that i haven't signed the loan documents and all the other documents from the lawyers yet so i guess it makes sense that it still shows as 'pending' in my CCRIS.

Am already in the middle of applying for the second loan actually, then the loan officer was asking me about the first loan in my CCRIS and wanted to see the offer letter but I didn't know what to tell them. But if you say they can't tell that the first loan is already accepted then I'm gonna stick with the story that it's still 'pending' 

Your information is misleading.

CCRIS is a system created by BNM.
Every financial institution is required to submit their customer's credit conduct to this centralised system. Telco is excluded but they are plans to include all those government loans, korperasi, IPTA loans etc...but all these while just talks and rumours.
What is meant by credit conduct is mainly split into 3 major categories:
Applications:
- How many applications is being applied for the past 1 year.
- How much "line" is being applied.
Thus banks or underwriters would know how "desperate" this person is seeking for credit facilities. And out of these apps, how many is approved and rejected.

Outstanding Status
- It would show how many credit facilities one had i.e. housing loans, credit cards, OD, hire purchase etc...
- Each line would show each facilities with it's outstanding, limits and payment behavior, legal status if any.
- Under the payment behavior string, 1 would meant miss 1 payment, 2 would meant miss 2 payment.
- If it's a card with outstanding close to limit granted might not give a good impression.
- If it's like Hybz mentioned, he's always late by 2 days...the payment string might shows all 1. But since it's a consistent pattern, there's nothing to worry about. But word of advise, phone the bank up and change the billing cycle.
- Legal status would shows what legal action had been taken.
This portion is mainly for officers to judge how good is your repayment, how much "burden" once has, etc...the main evaluation criteria lies in reviewing this section.

Special Attention Status
- This would show mainly accounts that had been written off.
- Or under AKPK management.
Meaning to say if one appears under this section, sorry to say that it really leaves a bad impression.

So it's advisable to visit BNM twice or at least once a year to view your own CCRIS report.
This is to detect whether someone had misused your identity to fraud for apps also.
http://creditbureau.bnm.gov.my/index.php?ch=7&pg=10&ac=12
CTOS is an independent company which collects all legal notices published.
So happy4ever is right that they are collecting from newspaper.
Note the word "published". So they either took it from newspaper or notice board outside the court.
They never approach "first hand" to credit companies like you mentioned!
CTOS is different from CCRIS as it only reports what was published. Even inclusive of normal civil suits which doesn't really involve financial institution.
That is why CTOS is still widely used besides CCRIS as CCRIS like I mentioned above only store reports from "financial institution". Whereas if one company or one person decided to sue you for defamation, or other legal matters and are being brought up to court, it would be captured under CTOS after the legal preceding is done and legal notice is issued. CCRIS would never capture those instances.
There's another company out there quite similar to CTOS, which is known as BRIS. Just that it's more focused on corporate side.
http://www.ctos.com.my/CTOSHOME/home.htm
http://bris.com.my/html/about.html
BTW, there's no such thing as black list.
Banks or financial institution based on all the above reports to make their judgment.
One can be listed in CTOS but if it's not related or the severity is not major, there would still be no problem.
CCRIS, however everyone with credit facilities would be listed. As long as the payment behavior is consistently good than there's no problem!

Well unless you cancel your cards, your late payments will still appear in the record

But if it is just for a few days (not until next month) there shouldnt be a problem la, normal la people pay a few days late. banks understand. but if you carry this late payments over to next month they would know that you are screwing up with the payments....

If you really cant take any bad CCRIS records.. what youcould do is to pay off the cards and cancel it. that way the records will be gone from the CCRIS in a few days and you would be so good to go!

Thank you - I went to Bank Negara and check my CCRIS records and it was clear At most I've been 3 days late (because I forget) so not a big problem. But I will pay on time moving forward!

I notice there is some experts in this forum about CTOS and CCRIS. I am wondering if anyone of you can give me advice? I've made many financial mistakes and is now paying for it. But, by paying so many banks every month, I am slowly and definitely drowning.

I'm hoping someone in here can advise me on several matters:

1. I know for sure my name is listed in CCRIS already (i have outstanding with EON Bank - now known as Hong Leong Bank). I want to settle it but I don't know how.

2. I am looking for the best solution to consolidate all my credit card debts into 1 account so I can concentrate paying 1 interest to 1 account instead of paying multiple interest (which is killing me) to multiple banks.

3. I've tried applying for personal loan but was rejected. I don't know what to do anymore.

I hope someone in here will be able to advice me or even help me to achieve my consolidation goal?

Thanks.

1. Everyone has a CCRIS record, however late repayment for consecutive 2 months would be a red flag
2. No banks will lend you when you have a bad CCRIS record
3. what are your debts ? Credit cards ? personal loans ?

What I meant was a red flag. Its all credit card. Is there any solutions?