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CCRIS: How to Check Your Credit Score

CCRIS: How to Check Your Credit Score

Streamlining Your Loan Application: Understanding Your CCRIS and Credit Score

Navigating the World of Credit in Malaysia

When applying for a loan, your creditworthiness is a crucial factor that lenders consider. Understanding your Central Credit Reference Information System (CCRIS) report and your credit score can significantly increase your chances of loan approval.

1. What is CCRIS?

CCRIS is a centralized database maintained by Bank Negara Malaysia (BNM) that provides comprehensive credit information about individuals and businesses. It includes details such as:

  • Outstanding loans
  • Payment history
  • Credit applications
  • Special attention accounts

2. CCRIS vs. CTOS

Both CCRIS and CTOS are credit reporting agencies in Malaysia. While CCRIS is managed by BNM, CTOS is a private company. Both agencies collect and provide credit information, but they may have slight variations in their scoring methodologies.

3. Checking Your CCRIS Report

You can access your CCRIS report through:

  • eCCRIS: An online platform requiring in-person registration at a BNM branch.
  • CCRIS Kiosk: Use your MyKad for verification.
  • BNM Offices: Visit a BNM branch with your MyKad and supporting documents.
  • By Correspondence: Mail, email, or fax your request to BNM Telelink.

4. Understanding Your CCRIS Report

A CCRIS report includes three key areas:

  • Outstanding Credits: A summary of all current loans.
  • Special Attention Accounts: Loans flagged for recovery.
  • Credit Applications: Recent credit applications.

5. Credit Report Updates

Your CCRIS report is updated monthly on the 15th. It includes data from the past 12 months.

6. Special Attention Accounts

If your loan is under special attention, it means the financial institution is closely monitoring it due to outstanding payments or debt management issues.

7. Loan Rejection and Blacklisting

A rejected loan application doesn’t necessarily mean you’re blacklisted. Each lender has its own criteria. However, undischarged bankrupts or wound-up companies may face difficulties.

8. Disputing Credit Report Information

If you believe your credit report is inaccurate, you can lodge a data verification request with the relevant financial institution or BNM.

9. Debt-to-Service Ratio (DSR)

Besides your credit score, your DSR is also crucial. A high DSR may reduce your chances of loan approval.

By understanding your CCRIS and credit score, you can take proactive steps to improve your financial health and increase your chances of securing a loan.

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