CTOS Offering Free Credit Score Giveaway Until Sept 20

CTOS is providing 67,000 free MyCTOS Score reports in conjunction with the Merdeka and Malaysia Day months. First-time MyCTOS Score users using the CTOS Mobile App are eligible to claim this free credit score.

CTOS is offering this free credit score giveaway from August 15 until September 20 in support of the government’s Jiwa Merdeka campaign.

Free MyCTOS Score Merdeka giveaway

“Out of a working population of 17.1 million Malaysians, so far just over 4 million people have checked their credit report with CTOS, which means that over 75% are still to do so,” said Erick Hamburger, Group CEO of CTOS Digital Berhad.

“We are committed to championing financial literacy and building a better Malaysia for all,” he added.

Financial independence goes hand in hand with a healthy credit score. A good credit score goes a long way in helping you make sound financial decisions for the future as a more attractive credit customer to financial institutions.

What is in the MyCTOS Score report?

Financial information that will rate your credit worthiness will be included with the CTOS score.

This includes:

• CCRIS records
• litigation and bankruptcy information,
• directorship and business interest based on Companies Commission of Malaysia (SSM)
• trade reference listings (eTR) showing payment records to non-financial institutions

Five factors that decide the information in your credit score

According to CTOS, five factors make up the 3-digit number of the score. They are payment history,
amount owed, credit history length, credit mix and new credit application.

How CTOS gather the information for these five factors are listed below.

1. Payment history: evaluates timeliness of loan payments over the last 12
   months.
2. Amount owed: is an account of credit facilities from various banks and the
   amount owed for each.
3. Credit history length: represents the length of time a particular credit facility
   has been held.
4. Credit mix: evaluates the types of loans and credit credit cards held – secured
   credit (e.g. home and car loans) versus unsecured credit (credit cards and
   personal loans).
5. New credit: looks at the success of new credit facility applications in the past
   12 months.

The sum total of these factors will convert to a 3-digit number which ranges from 300 to 850. The higher the number will indicate the individual’s higher credit worthiness.

How to claim the free MyCTOS score

First time users of the CTOS mobile app only need to download the CTOS
App. After signing up, they just need to enter the promotional code “Merdeka67” before September 20, 2024.

For more information, download the CTOS mobile app or go to https://www.ctoscredit.com.my.