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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

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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

        What is a credit report?

        A credit report is like a report card of how you manage your finances. It is a neutral document that contains information about both your good and bad financial habits. A credit report will list information such as your credit score, identity verification details, directorship and business interests, address records, banking payment history (CCRIS summary and details), dishonoured cheques, legal cases and more.

         

        You’ll be able to see what loans and credit facilities you have plus how much is outstanding for each one, and any missed payments. As such, a credit report is extremely useful for monitoring your credit health. This way, you’ll be able to see quickly what needs to be improved or what you may be doing wrong.

         

        It could also determine if you may be a victim of identity theft. For instance, you may notice credit applications you didn’t make or information that’s incorrect. These could be warning signs that your personal information may have gotten into the wrong hands and that further investigation is needed.

         

        Who produces these reports, and where do they get my information from?

        CCRIS (Central Credit Reference Information System) was created by BNM and it collects credit information about individuals, then puts that information into credit reports. Credit reporting agencies such as CTOS then produce credit reports based on CCRIS information.Financial institutions like banks, insurance companies, credit card issuers, leasing companies and even PTPTN submit credit-related data to CCRIS. CCRIS stores this data and produces credit reports. Credit reporting agencies can access this CCRIS information (with consent from consumers who request to purchase credit reports) to produce their own credit reports and score.

         

        Some credit reporting agencies also collect information from other public sources including: National Registration Department (NRD), Registrar of Societies, publications of legal proceedings and notices in newspapers and government gazettes, Companies Commission of Malaysia (CCM), Malaysia Insolvency Department and also Trade References, which contain information about past payment experience(s) between a business and a customer (e.g. your mobile phone subscription).

         

        You can find a complete list of financial institutions that submit credit data to CCRIS here:

        http://creditbureau.bnm.gov.my/CIfinancial.html

        Prev What is credit scoring
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        Whats Your Finance Personality?

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        1. It's the end of the month, you are thinking...
        2. Say you want to go shopping for fun, do you...
        3. So you crashed your car and it's going to cost RM1,000 to fix, you
        4. Your credit card statement is in and your reaction is
        5. After months of saving (see "sikit -sikit, lama-lama jadi bukit" really is true), you've got cash sitting in the bank. You then
        6. You're buying a new car (yes, imagine away - Toyota, Proton, or BMW). You take
        7. You are thinking of investing. What do you do...
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