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    • Home
    • About Us
    • Guides

      Savings Calculator to calculate savings goals and basic savings projections

      Planning & Budgeting

      Investment Returns Calculator to calculate investment returns, investment comparisons and investment portfolio simulator

      Saving & Investing

      Guides to tackle financial debts in Malaysia for Free

      Tackling Debt

      Free Guides on Choosing and purchasing a vehicle in Malaysia

      Buying a Vehicle

      Free Guides on Purchasing a Home in Malaysia and avoiding crippling debt

      Buying a Home

      Free Guides On purchasing insurance in Malaysia safely

      Insurance

      Free guides to ensure a comfortable Retirement by planning your retirement

      Retirement

      All Guides Icon

      All Guides

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      GuidesTackling DebtCredit scoring
      • Introduction 1

        • Lecture1.1
          Summary
      • Deep, deep dive 4

        • Lecture2.1
          What is credit scoring
        • Lecture2.2
          What is a credit report?
        • Lecture2.3
          What types of credit reports are there?
        • Lecture2.4
          What determines my credit score?
      • Practical Tips 4

        • Lecture3.1
          How do I improve my credit score?
        • Lecture3.2
          What should I avoid when trying to improve my credit score?
        • Lecture3.3
          How do I understand my credit report?
        • Lecture3.4
          What do I do if the information in my credit report is incorrect?
      • Additional information 4

        • Lecture4.1
          Who can view my credit report?
        • Lecture4.2
          Can I request information to be removed from my credit report?
        • Lecture4.3
          If I have a bad credit score, does that mean I won’t get approved for a loan?
        • Lecture4.4
          Quiz: Credit Scoring

        How do I understand my credit report?

        In general, here are the sections from a credit report that you need to know about:

         

        1. Outstanding credit: Lists your credit card balances, loan balances and other unpaid credit amounts by month. Under each month, a number shows how long you’ve had payments overdue. For example, if there’s a ‘2’ under June, it means you’ve missed your payments for April and May.
          This section will also show your credit limit.Up to 24 months after settling an outstanding debt, the outstanding debt information will be automatically removed from your credit report.

        1. Special attention account: Lists financial providers that are keeping a close eye on your account because they plan to recover missed payments, or because your debt has been restructured.

        1. Application for credit: Shows credit that you’ve applied for in the past 12 months, and whether it was accepted or rejected.

        1. Business interests and directorships: Lists if you are a director in a company, a guarantor for your company’s loans, or own part of a company that has outstanding debt.

        1. Trade reference: Shows amounts you owe to providers (e.g., internet provider). For example, if you haven’t paid RM150 of your postpaid mobile subscription for more than 6 months, a trade reference may show up on your report.

        1. Dishonoured cheques: Shows any cheques you issued that were rejected. You should be able to insert comments to explain the reason: E.g. the account was closed.

        1. Legal cases: Lists any legal cases you have, either brought by you or against you.

        Here is a sample CTOS credit report’s summary page.

         

        How do I understand my credit report? 1 - Multiply -                                                                    Source: ctoscredit.com.my

         

        Click here for the full sample credit report.

         

        Still need more information? Check out the website of the relevant credit reporting agency (CCRIS , CTOS or other agencies) for more details about the sections in a credit report.

        Prev What should I avoid when trying to improve my credit score?
        Next What do I do if the information in my credit report is incorrect?

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