What is CCRIS ?
CCRIS stands for Central Credit Reference Information System. It is a system created by Bank Negara Malaysia (BNM) which synthesizes credit information about a borrower or potential borrowers into standardized credit reports. The information is available to financial institutions (Banks) and the individuals (or company directors) themselves upon request.
What Categories of information does a CCRIS Report Contain ?
1. Outstanding Loans
* Housing loans, hire purchase, credit cards, personal loans, overdraft etc
* Includes information on Outstanding Amount, Limits, Payment Behavior, and Legal Status if any.
2. Special Attention Accounts
* Usually Accounts deemed Non-Performing Loan (NPL), or under special debt management scheduled such as those negotiated by AKPK
3. Loan or credit facility applications made in the past 1 years
* How many were approved/rejected
How long are the records kept ?
CCRIS shows repayment records of the last 12 months only, after which the oldest data is expunged.
What do banks typically look out for that give a bad impression ?
1. Accounts under legal status (legal action being taken) or special attention accounts.
2. Missed or late repayments.
3. Utilization of credit limits (e.g. A high utilization of Credit Card or Overdraf limits is an indicator of poor finances.
4. High Debt Servicing Ratio (DSR). This is done via comparing your income documents against the total outstanding credit.
5. Multiple active loan or credit applications. The more you applications you made, the more "desperate: you seem to banks.