How-to: Read Your CCRIS Report

Central Credit Reference Information System (CCRIS) is a system created by Bank Negara Malaysia (BNM) which synthesises credit information about a borrower or potential borrowers into standardised credit reports.

The information is available to financial institutions like banks and the individuals themselves upon request. CCRIS is a prominent source used by financial institutions to help them establish a view of the credit history of potential or current borrowers – and determine their creditworthiness before offering them credit.

To keep a healthy track of your credit performance, it is advisable that you obtain your credit report from CCRIS at least once every three or six months. And, it is completely FREE OF CHARGE!

How to get your CCRIS report?

There are three ways you can obtain your credit report from CCRIS:

The eCCRIS portal

The eCCRIS online portal provides users with a simple, secure access to your CCRIS report whenever you need it. eCCRIS allows new users who are Malaysian individuals with a MyKad and internet banking facility to register directly online at eCCRIS. There is no need for any physical presence at BNM or AKPK premises for registration authentication.

For Malaysian individuals with MyKad but without internet banking facility or bank account, registration can be done via one of the following methods:

• CCRIS kiosks at any AKPK offices nationwide
• eLINK by submitting completed application forms and supporting documents. The form can be downloaded here.

CCRIS kiosks

These kiosks are available at any of the Agensi Kaunseling dan Pengurusan Kredit (AKPK) premises nationwide. Simply insert your MyKad into the credit kiosk, provide your thumbprint, and once your identity has been verified, you can print a CCRIS report.

Approved credit reporting agencies

These credit reporting agencies are private companies with their own credit reports. Unlike the previous two methods which are free, these private credit reporting agencies may charge a fee for their services. You can get your report via this method through the following agencies:

• CTOS Data Systems Sdn. Bhd. (CTOS)
• Credit Bureau Malaysia Sdn. Bhd. (CBM)
• Experian Information Services (Malaysia) Sdn. Bhd. (formerly known as RAM Credit Information Sdn. Bhd.)

How to read your CCRIS report?

The CCRIS report itself doesn’t say whether you’re in good or bad credit standing. It only shows repayment records of the last 12 months, after which the oldest data is erased accordingly. Whether your credit is good or bad is up to the person/entity reading it. The Report incorporates the following credit information of a borrower:

Item 1	Outstanding Credit(s)	All outstanding credit facility* obtained by the borrower under: • his own name; • a joint name with another person; • a name of a sole proprietorship; or • a partnership or a professional body. Example: Housing loans, hire purchase, credit cards, personal loans, and overdraft Includes information on outstanding amount, limits, payment behaviour, arrears and legal status if any. *This would exclude any accounts which have been fully settled.
Item 2	Special Attention Account (s)	All outstanding credit facility under close supervision by financial institutions. Usually accounts deemed Non-Performing Loan (NPL), or under special debt management schedules such as those negotiated by Credit Counselling and Debt Management Agency (AKPK).
Item 3	Application(s) for Credit	All applications in the previous 12 months for the borrower under: • his own name; • a joint name with another person; • a name of a sole proprietorship; or • a partnership or a professional body. Shows the amount of applications and their statuses - whether approved, rejected or deleted.

What does the CCRIS report mean?

The CCRIS Credit Report is used by the financial institutions as one of the ways to make assessment on the credit facility application. Your credit history affects your eligibility to apply for credit products, including credit cards and any kind of loans from housing, auto or personal.

A CCRIS Report contains factual and historical information on the loan amount, interest and charges outstanding on each credit line like housing loan, personal loan, hire purchase, credit card and overdraft. It also shows the amount of each monthly payment to be in arrears to the bank in the last 12 months. By having this Report, the financial institutions can assess your credit rating by analysing each loan using the loan balance and payment record.

Banks typically look out for the following to determine your creditworthiness:

1. Accounts under legal status (legal action being taken) or special attention accounts.
2. Missed or late repayments. The more arrears you have; the higher the chance loan providers will consider you to have a bad credit rating and not offer you any further credit.
3. Utilisation of credit limits such as a high utilisation of credit card and overdraft limits are indicators of poor money management.
4. High Debt Servicing Ratio (DSR) by comparing your total income against the total outstanding credit.
5. Multiple active loan or credit applications. The more applications you make, the more financially insecure you seem to banks.

Typically, financial institutions will reject an application if there are two months in arrears of loan payment for each loan undertaken. However, some financial institutions will reject loan applications if there is a debt ratio of 60% or more. Ultimately, lending decisions depends on the risk evaluation and policies set by the individual financial institution. Using the same information from the credit report and other sources, one institution may approve an application while another may not.

 

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What should you do if your CCRIS report is unfavourable?

1. Pay your instalments promptly

CCRIS keeps track of your payment record for 12 months. If you do not service your loan, it will be displayed on the CCRIS report in numerical representation. For example, if you have three month’s payment in arrear, your CCRIS report will have the number ‘3’ printed in the column of that particular loan.

To rectify this situation, you will need to consistently pay on time for the next 12 months to clear your old record. The longer you keep paying diligently and on time; the better you will look on paper. Set up a standing instruction if you tend to be forgetful. It might be worth the additional fees if you can avoid a bad credit report.

2. Realign your repayment time frame

If there is a consistent string of number “1” in your repayment behaviour, it shows that you are a month behind in your payments. However, this could be due to the fact that your payment due dates are earlier than your pay day. Discuss the option of delaying your billing cycle with your bank.

3. Settle off the minor credits

If you have high credit utilisation, pay down some of your minor credit lines, such as outstanding credit card payments or overdraft before submitting a loan application. (Are your debts weighing down your shoulders? Here’s how you can reduce RM10,000 in debt over two years using these simple concepts.)

4. Be diligent when applying for credit

Limit your amount of loan and credit applications. Shop around first, do your homework beforehand and then selectively apply for the credit product that suits you and your needs the best. Contrary to popular practice, too many loan or credit applications actually hurt your chances of getting the best deals (Confused over which credit card that will best suit you? Let us help you!).

5. Have a credit record

It hurts your credit score if you don’t have any visible credit history, for example if you have no loans, credit cards or overdraft facilities. In most cases, banks would not offer full margin of finance where a person’s credit profile is blank. Have at least one active credit facility and pay on time.

Having your credit report means you will be able to keep track of your financial scores and will be able to remedy anything that may be amiss. Especially if you were a guarantor for anyone or if you have a large number of loans to keep track of. Avoid keeping yourself in the dark and don’t be afraid to know your credit ratings and performances. The report is useful for you to measure and maintain your financial health, especially when you are planning to apply for a loan in the near future.

Now that you know how easy it is to get your CCRIS report printed; there’s little reason not to get it done and get on top of your finances!

Only marry someone with a good credit score. This and other common credit score myths you should not fall for.

This article has been updated on June 4, 2024.