Your credit report is more important to you than you think.
A few months ago, I wrote a blog article about my encounter with one of the local banks that rejected my request to increase credit card limit for no good reason. I mentioned I had an “AA” CBS Credit Score from Singapore Credit Bureau. A lot of readers wrote in to ask me how can they check their credit score. I have compiled the information to give you this completed guide to Credit Report in Singapore.
Unknown to many people, the credit report is more important than you think in your day to day life. Most lenders will check your credit file to assess your creditworthiness prior to lend you money, so whenever you apply for a bank loan such as a mortgage loan, car loan or even credit card, the banks will check your record behind the scene. Naturally, good credit repayment history will make it easier for you to obtain credit and to qualify for loans. At the same time, any credit-related information will be uploaded on your credit file.
Monitoring your credit file will also protect against possible fraudulent use of your personal details to obtain credit.
Credit Bureau (Singapore) Pte Ltd (CBS) is Singapore’s most comprehensive consumer credit bureau that has full-industry uploads from all retail banks and major financial institutions. It is a joint venture between The Association of Banks in Singapore (ABS) and Infocredit Holdings Pte Ltd.
CBS aggregates credit-related information amongst participating members and presents a more complete risk profile of a customer to credit providers. This helps credit providers to determine the likelihood of the customer repaying, thus enhancing their risk assessment capabilities.
What is a Credit Report
In short, your credit report is a record of your credit payment history compiled from different credit providers. Your credit report gives you and the banks a snapshot of your credit repayment capability. The report will give lenders, credit card issuers and banks a full picture of your financial standing, and help them make the decision over whether you should be issued with a credit card, given a loan, or even have your credit limit increased.
A sample of a credit report will look like this (click to enlarge)
If you notice the colourful bar in the sample showing “HH” to “AA”, it is the Risk Grade corresponding to the Credit Score.
What Is A Credit Score?
A Credit Score is a number used by lenders as an indicator of how likely an individual is to repay his debts and the probability of going into default. It is an independent assessment of the individual’s risk as a credit applicant.
A CBS Credit Score is a four-digit number based on your past payment history on your loan accounts. The score range from 1000 to 2000, where individuals scoring 1000 have the highest likelihood of defaulting on a payment, whereas those scoring 2000 have the lowest chance of reaching a delinquency status. Below is the table showing the Risk Grades and Probabilities of Default for the respective Score Ranges.
Your credit score is just one factor used in the application process. Other factors apart from your credit report, such as your annual salary, length of employment, bankruptcy/litigation information, number of credit facilities may also be taken into consideration by lenders during a loan application.
Do note that CBS neither “blacklist” nor play a part in the lending approval decision which is fully undertaken by lenders and its lending policies. CBS instead, only provides specific factual credit-related information about consumers who have credit or loan facilities to the lenders.
6 factors that affect your Credit Score
1. Utilization Pattern
This refers to the amount of credit amount owed/used on accounts by individuals.
2. Recent Credit
Lenders may perceive that you are over-extending yourself if you have newly booked credit facilities within a short period of time. Therefore, consumers are advised to apply for new credit in moderation.
3. Account Delinquency Data
The presence of delinquency (late payment) on your loan accounts will reduce your credit score.
4. Credit Account History
A consumer with long-established credit history is deemed to be more favourable or a reliable borrower when compared to one who has a limited or no credit history. Accounts with a history of prompt payments will help to boost your credit rating.
12 months of account repayment conduct (closed and defaulted accounts are also included) as displayed under the Account Status History in your credit report is used for score calculation.
5. Available Credit
This refers to the number of accounts available (open or active) for credit.
6. Enquiry Activity
This refers to the number of new application enquiries found in your credit report.
Each time a potential bank/financial institution pulls your credit report in response to a new loan application, an enquiry is placed on your file. Having too many enquiries in your credit report indicate to lenders that you are trying to take on more debt, therefore increasing your credit exposure.
To keep your enquiries to a minimum, try to limit the number of loan facilities and credit cards that you apply for. (Review enquiries on existing loan facilities do not affect your score.)
Additional Reading: 5 tips you can use to improve your credit score.
Where can I get my Credit Report?
You can request a copy of your credit file online, at any of the 62 SingPost branches, at the Credit Bureau office, at CrimsonLogic Service Bureaus or at the CASE office.
A transaction fee of $6 plus GST applies.
You can also subscribe to ‘My Credit Monitor’ service, which checks your report daily and notifies you by email when key changes are detected. Early detection is key to minimising the damage that ID theft can have on your credit.
Free Credit Report
With effect from 1st April 2016, consumers who have applied for a new credit facility with any of CBS member banks or financial institutions are entitled to a free credit report. View list of CBS members.
Credit applicants will now receive a notification letter informing them of the credit application approval or rejection statuses. With this approval or rejection letter, you are able to obtain a free credit report from CBS within 30 calendar days from the date of approval or rejection letter.
The new industry initiative aims to better facilitate consumers’ ability to verify the accuracy and completeness of their credit data by providing a credit report free of charge upon a New Application enquiry has been conducted by any of CBS members in the last 30 days. CBS will extend the free report to the individual when he/she makes the request in person at the CBS office or online via the CBS website.
Where there is no enquiry conducted by a Member when an individual has applied for a new credit facility, he/she can visit CBS in person to obtain a complimentary copy of his report with the letter issued by Member indicating a credit application was made.
In the event that enquiry was not conducted by that member and credit application was rejected without receiving the letter, please contact the respective Member for clarification.
I am a EP holder and when I try to get the credit report, its get my personal details from SingPass. I understand for EP, all the credits will be registered under the passport number instead of FIN number. How to get the credit report via passport number?
Note: My credit score shows GX. which is a NON-RISK score.
Hi, Hari,
Based on what I know, you can call the Consumer Services hotline at 6565 6363 to request an ID merger so that your passport number and FIN will generate the same report.
Hi I am using credit cards but still showing GX in credit report can you advice why?
Hi I have a HH grade. What does it mean and how do I improve it?
I am planning to join the insurance industry
Hi Ivan,
Year 2016 when im holding EP have outstanding with my credit card and repayment monthly until this year finish clear all the outstanding. 2017 my PR has been approve and I purchase CBS report show that no record with credit GX, may I know if this scenario I still can getting any loan from other bank, and all bank and CBS will auto combine my CBS credit atomically?
Hi, Bryan, this is hard to say as the it depends on how it was recorded in the CBS.
Hi,
Ever since i stopped workinf n became a housewife, i stopped earning an income in 2014. This year, i constantly face late payments due to unable to maintain fund in the account and now resulting in card being cancelled. I think my credit bureau report is sure going to be bad and have problem applying for cards in future. Is it possible to recover this issue if i were to make proper payments in future once i started working? If so, how long will it takes for it to recover?
Hi, Sherilyn
You can improve your credit score in the future, but it will take a few years.
Hi Ivan,
I had discharged from bankruptcy 5 years ago but why the statement of bank still shown in my CBS, WHY?
Hi, 95emperor, it is best for you to contact CB and seek advice from them about your specific case.
Hi Ivan, could you advice me the CB contact nos.
Hi, Credit Bureau’s contact number is 6565 6363
Actualy I need to know how to get CBS report?
Dear Ivan,
I would like to understand what is personal online request under (previous enquires). New application self single. Kindly advice.
Under previous enquirers – name of bank listed as personal online request new application self single account what does that mean? Because i no personal loan at all?
Keeping your debt at a manageable level is one of the foundations of good financial health.
Great and informative article indeed! Thank you so much for sharing this one with me.
Dear Ivan
can you explain about risk grades?
AA BB CC DD EE FF GG HH
may i know which one is the good?
How to register to take cbs foam
Hi Ivan
I reviewed my CBS report. Though I have made settlement to my $500 credit card default 3 years ago and car hire had withdrawn statutory demand since 2015, I have a HX grade. Otherwise all A ratings.
As I need to apply home loan and bank said there’s still a bankruptcy suit existing (the car hire), may I know what’s the best way to resolve the HX grade? So far 2 credit card applications have not succeeded.
Hi Ivan,
I’m a director and major shareholder of Singapore registered Pte
Ltd company. Recently a bank in Malaysia requested to print my company’s cbs report for supporting a guarantee loan. Where and how can I print this report?
Dear Desmond
You can obtain the report from Singapore Commercial Credit Bureau. The report provides information on an individual’s business interests, litigation information (High and Subordinate Courts) and Bankruptcy Trace. Link as below.
https://www.sccb.sg/ddp/firstPage.faces
Hi ivan .i’m just curious. As a Sporean. if one dont have any loan in Spore..can he/she still print the CBS report?
Hi Chery, I believe so. You just get a different rating.
Strangr i have a credit rating of HX recently.
I have never defaulted any cards. Sometimes i make advanced payments instead..
Annual income ard 200k recently..
Did a car loan lately of 100k for 5yrs… my se sourced for 3 banks and assigned me to maybank at a slightly lower interest than the other 2.
But i think this 2 other applications is being indicated in credit bureau…
My monthy card usage is ard 5k and all settled immediately usually.
Thus strange how come they put me hx.
Cheers
Hi Ivan,
In 2011, I am in bad debt situation and even have 1 bank go into default record and shown in my credit burea report. Shortly, I have make payment and clear all the amount to all banks in the same year. But due to default payment, the default status was remained in the credit burea report for 5 years. As time passed, now my credit burea record is clean with GX status. Somehow, I still have difficulties to apply loan and credit card. Even I went to some fiancé company, they mentioned that they are still able to track my default status which I don’t which platform to use to do risk assessment. Can you please advise on this matter.
Hi, Alvis
How the bank looks at your case is different from your own risk assessment. Have you got even one credit card approved so far?
Dear Ivan,
So far i have tried several loan and card application. but i still cant get any of it approved. Something make me curious is that, how does other finance companies tracked my default record where is dose not shown in credit burea report anymore. if such record still shown in other platform (not CBS) which i don’t where it is and i am not able to remove it. Then theses record will follow me till the rest of my life.
Hi Ivan,
May I please check how probable is it for the bank to approve credit applications for someone with HZ status? One of my accounts got loaded with H status. All my other accounts are A status. Overall my credit rating has dropped to HZ.
Can I appeal to the bank personally to approve my credit applications?
Thanks alot!
Alfred
Hi,
I just wonder with HH credit rating, am i able to get small amount loan from bank? if bank doesn’t approve my small amount loan, how can i improve my credit rating? Bank did not approve any credit card application or loan, how am i able to show them i am a good payer?
Hi Ivan;
Q1:
I am having HH score in my credit report from CBS and these was due to some previous late payment record on my credit card. If I intend to have full settlement of those outstanding amount on Credit Card, will CBS report reflect / update the score status once I have settled? If no, how long do you think its will take to improve my scoring ?
Q2:
Besides CBS, any others service provider for generating the credit report ? If yes, it’s that recognised in Singapore?
Hope you can enlighten me further.
Thanks.
Hi, Vin Chew,
Generally you need to remind the bank to update Credit Bureau to update the record, otherwise they will take a long time.
Most of the financial institution will access your situation based on CBS record.
Hi there,
Just got my credit report today, may I know GX score stand for?
Is it good or bad?
Thank you so much.
Hi, Gary,
GX means there was no credit history. It is generally not very good if you want to obtain new loans because it is hard for the bank to ascertain the borrow’s credit worthiness.
Thank you for the advice. So, how can i improve from this situtation?
I am not in debt with any bank, and also i am taking up HDB loan for my new house. Will it actually affect? So kinda worry for this part.
Cheers!
Hi, Gary
I think HDB is generally quite lenient when it comes to HDB loan. You can check HDB office and get further advice from them
Noted, appreciate of your help. Have a good day ahead!
Hello Ivan,
Thank you for the update. I also got the same status and was wondering how can get a credit history recorded. Not sure how to go about it. Your help is highly appreciated.
Hi there,
Just got my Credit report today and it shown GX status.
May i know, what does GX really stand for? Is it good or bad?
Thank you so much.
hi sir,
I found out that my credit report is HH.I had 2 outstanding balanceservice in 2010 and 2014 but I had cleared with full settlement in 2015 and early 2016. I try apply for credit cards many of time and banks rejected me. Is it due to I had alots of new enquiries that my report become HH? I wanted to apply for renovation loan will it affected and get reject?
Hi, Eileen
Having too many enquiries are no good. You can check my article here about how to improve your credit.
Hi Ivan,
I didn’t knew that too many enquiry will effect the score as I’m too anxious to get a card for my renovation loan as my hdb is coming in 3 months time.
Right now I have no outstanding at all and I do not owe any credit cards at all so what can I do to regain the credit score?
Hi, Eileen
Unfortunately you have to be a bit more patient. Time is the best way to regain your credit score.
Hi Sir
I am a Long term visit pass holder residing in Singapore from past 3 years.I am working here.Am I eligible. For a Credit bureau report as I need this report in India my hometown to apply for a home loan.i don’t have any credit card or anything in Singapore.i just have a normal bank account
Hi Ivan,
Need to consult you.
I have defaulted on my credit card account 8 years ago. After a 6 months of default i manged to pay the bank all the outstanding.
However recently, the bank send a legal letter demanding the outstanding amount which i had already fully paid. I told the law firm that the outstanding already been cleared. The law firm insist that the outstanding is not settled yet and asked for prove. Obviously after 8 years i can’t produce any.
Then i purchased a credit report from credit bureau and found out that there isn’t any records of the bank at all in my report. I have informed the law firm of my finding and they have gone silence since. Previously(many years back) there is a default record of this bank in my report when the outstanding is not settled. Obviously the bank has updated to credit bureau that the outstanding is already settled. I called credit bureau, and they said that all banks suppose to upload all accounts that are still in arrears or in default. However she refused to commit an answer when i asked her if the bank can still haul me to court where the credit report didn’t show any outstanding anymore.
Could you advise if the bank has a case against me since the credit report indicated there is no outstanding with that bank? Does the rule say that the credit report record is final and the bank cannot pursue anymore as long as the outstanding is not in my credit report?
Although the law firm has gone silence, i am still not comfortable with the situation. Could you advise whom can i seek assistance to settle this once and for all?
Many thanks in advance.
Dear Cay
Credit Bureau is a private company and its function is to help aggregate credit related information.
The information still has to be provided by the bank, thus its report should not be treated as “final”. I suggest you contact the bank directly to obtain an official response as the lawyer is merely acting on the bank’s instruction.
Hi, i have a question to ask you. I have had credit cards and loan from some banks for quite some time and with a bank for nearly a year and have always made prompt payments. However, i am curious with my credit bureau record and recently tried to apply another loan but was rejected. I check my CB report and it was listed as GX and don’t seem to have any records on it. Can i ask why there is no record? Btw, i am an EP holder with a 6 figure yearly salary.
Hi, Jason
In this case, you probably can contact credit bureau to find out more.
hi ivan,
had default payment on 4yrs ago and was paid for negotiated settlement,but my credit report shows GX rating now.however i have been rejecting by the bank for credit card application .pls advise
Hi, Naju
I am afraid that I cannot help you much for this, but I have an article about how to improve your credit score, which you might find useful.
Dear Ivan
A non-Singaporean friend who has not worked in Singapore before has asked me to assist to purchase a credit report on himself. Just about every provider that I asked requires the original passport and letter of authorisation to be submitted. Would you know of anyway that I may purchase the credit report ?
Thanks
Hi, Joan
The credit report is only people who work and live in Singapore, I don’t think it is what your friend needs
Hi Sir,
I am EP holder I told citibank credit card I couldn’t pay of fully so I changed to monthly plan I still have $2000 outstanding. My CBS status shows has HZ. My question is if I pay of full outstanding will my score changes imidetaly or still go till three years? Currently I am not getting approval for any credit card or loan? Please advice how do I improve the score.
Hi, Kumar
It is unlikely that your credit score will change immediately, you can refer to this article about how to improve your score.
Dear sir,
I am a Ex EP holder at Singapore..Now am in India ..how to i get my credit score ..page is always shoe access denied.and also last week only i have settled my outstanding mobile balance..is there any issues to entry again tourist visa in sinapore..plz guide me
Hi, Thomas
From the reader’s reply, it seems you can only access the website from Singapore
Dear Ivan,
desperately need some advice here. I self petitioned for bkp in 2014 as i wanted to be on the drs scheme but withdrew before any court proceedings. I have since cleared all debts and cancelled all lines with except one with full settlement but i realised my credit score is still HX. on the cbs report it says 0 default and 0 bkp proceedings but can i ask when can this HX be cleared? Is there anything that can be done? Understand i filed for it.. but i was nv a bkp and i’m not sure what i can do now.
looking forward to ur reply. thanks.
Hi, Ash
After settlement, your record is typically cleared in 3 years. You can click here for more information about how to recover your credit faster.
Hi, is the website shut down again. I m trying purchase online however, it prompted “access denied ” . Currently, I m oversea now
Hi, Alan
The website has a daily maintenance from 2am – 7am Singapore time. If you are overseas, you should avoid these time
Hi Ivan
I am also outside Singapore currently and getting the same error message even after trying outside the time window you mentioned. It seems the site can be accessed only while in SG.
Hi,
I was wondering what does my grade means. i got GX. i am not sure what does it means. can you please help me to explain what does that mean? furthermore, i have tried to apply 2 credit cards, and all of them are UNSUCCESSFUL. it says here “Our reasons are confidential”.
and what does it mean by “a free credit credit report is available to you.”
I hope you help me answer all of these.
Thank you.
Hi, Hafeez
GX means “Inquiry record only (no Public Records / No Trades)”. It is likely because you did not have any credit card before so there is no credit history. You can try to apply through some local banks, I think you may have a chance to get a credit card if there is no other reason that they denied your application.
Hi Ivan,
I have a credit score of HH due to involuntary termination of credit card but have paid up all outstanding amounts. How long should i wait before trying to apply for a new card? I saw that records are kept for 3 years.. Does that mean i can only apply after 3 years since i dont have any credit cards now?
Hi, PC
You can always apply a credit card even before 3 years. In fact, having a credit card will help you improve your credit score. You can read my article about how to recover your credit score.
Hi Ivan,
Thank you for the quick reply, i read the article too. I actually tried to re-apply but got rejected. Should i try another bank or is there an ideal time frame to apply after repayment? Eg. 3-6 months? Thank you so much for the advice.
Hi, PC
If you just repaid the debt, it is quite hard to get a card. You probably can try after 1 year.
Dear Ivan, thank you for the information and answering our questions. Appreciate if you could answer mine too. I found out I was rated HH due to involuntary termination of credit cards in nov 2015. I have paid up since they closed my cc account. May I know will my rating be changed or it will remain as HH forever? Thank you very much!
Hi, Sze Ling
The good news is that the credit score won’t be the same forever. default record typically will stay for 3 years. You can check my latest article about 5 ways to improve your credit score.
Dear Ivan, thank you for your reply. Which means during these 3 years, the success rate for successful application of credit card and loan will be low? Appreciate your kind answer and time!
Not necessary, that depends on many factors. Credit score is just a generally guideline but each bank has other own criteria.
Dear Ivan, thank you for your kind help. I don’t think I will be applying mortgage loan in near future. Hopefully my score has become better by the time I need one. Once again, thank you for your time and reply!
Hi Ivan,
I just view my CB report and realised mine is HZ. what does it mean?
I am presently working in a FA company as a non sale advisory role for few years but recetnly requires me to have rnf code in CIS with MAS.
May I know will my CB report affect me on having a RNF code? I am afraid this will ruin my career.
Dear K
A HZ risk grade generally means you have more than $300 outstanding balances for more than 90 days. You can check with your company’s compliance officer if it will affect your RNF application.
Hope this helps
May i know which sing post i should go to purchase CBS report?
Hi, Eddie
You can purchase CBS report at any of the 62 Singpost branches.
Hi
My credit rating is HX.
Most of the loans are already paid of with 2 bank loans outstanding. The default of 2 payments have been completely paid last month feb. can i know how long will it take for the default records to go off? and also when will HX be changed? As i have been paying all my loans promptly. and the last 2 loans which i m slowly paying will that affect the rating as well?
Please advise?
Pooh
Hai ! Can I know work permit have or not CBS report. Tq if you reply
Hi, Ahmad Shukri
Based on my limited knowledge, I think there is no CBS report for work permit holders.
Hi Ivan
Thanks for ur reply. As i check my mum cbs she got CX, her house is fully paid , no credit card, loan etc. Her annual income is $29875, as the guarantor need min $30000. I told my car dealer n he say he will try to submit n now waiting result. Is it difficult to get our car bank loan approve since its her 1st time applying bank loan? And if it fail do i get the car deposit refund fully since try my best to get bank loan but fail.
Thank you
Hi, Estee
Yes, if she has not taken bank loan before, it is considered no credit history, and it is more difficult to get loan. Nevertheless, hope you have luck for this.
Hi Ivan
I just checked my cbs report and i got HH, even though i have already cleared home loan reno, study loan and personal loan on last dec 2015. So left only my 4 cc loan but i have never miss pay the min amount every month. Right now i can cleared only 2 cc loan fully, so left only 2 cc loan which about 16k plus. Will the cbs change my HH status immediately so that the other bank can approve my car loan coz already made 10k deposit with dealer, dont want them to forfeit it if i can take bank loan or if i take finance company can easily approve? Dealer advise me to get guarantor, is there any min income to be a guarantor coz my mum is low income salary
I hope u can explain me what should i do. I really clueless now.
Thank you
Hi, Estee
Normally it takes a while for the credit status to be updated and definitely you need a min income for the guarantor. Each finance company has a different requirement for the guarantor.
Hi! I don’t know if you’ll be able to help me out but it’s worth a try.
A friend recently borrowed from several lending companies and used a mobile number which was registered under my name. She had not been paying her loans and some even found a way to call me on my own number. (I have two mobile accts one of which i let her use)
My question is, will this affect my records too? Will i be affected in terms of applying loans, etc. Since the nunber she used was under mu name. I never borrowed any money and these companies keep on harrassing me. What can I do about this?
Hi, Hayley
Sorry to hear about this. But I don’t think this will affect your credit record from the banks if you did not sign up any credit. You may want to report police to get this cleared.
Dear Ivan,
I can across your website and you give great advice.,
I have an American Express Credit Card debt since 2008 of $5000, They took me to court as I wasn’t able o pay due to the recession. I have left the country and again they have chased me by finding me by linkedin and called my company, I have negotiated to clear the debt by paying 10% of the debt.
When paying off the debt, is there anything I should be asking the bank to do regarding my credit score etc before paying the debt off.
Regards
Liam
Hi, Liam
The credit score is not only determined by this bank, but you do have to make sure that the bank updates the credit system once you pay off the debit. I heard sometimes the bank “forgot” to update even if the debit is cleared.
hi bro,
i would like to check regarding my cb report that they put me under HH ratings.previously was because of old loans amount that the terminate it then i already made the full payment as settled already.
just to check anyways that i can improve or change the HH ratings as most of the banks i applied for personal loans rejected me.
hope u can give me some suggestions on the enquiries.
Thank you
Hi,
May I know if sub card holders credit rating will be affected by main card holder debts?
i got many credit card loan last time , after many yrs I finally left 2-3mths to clear all debts. Now attempting to get a HDB flat , but do u know roughly how long I need to wait till my CBS record back to normal in order I can apply a new housing loan? Coz I heard my friend said need to wait 6mths b4 bank will take my loan, it’s tat true?
Hi, Shirley
I am afraid so, my guess is given today’s environment, bank may not be satisfied even after 6 months
Hello Sir , I was based in Singapore last 5 years and recently moved to India . I am trying to reach the Credit Bureau website
http://www.creditbureau.com.sg/get-my-credit-report
It gives me an error that ”
—————————————————————————————-
Access Denied
You don’t have permission to access “http://www.creditbureau.com.sg/get-my-credit-report” on this server.
Reference #18.87c733b8.1445408520.7604d9
—————————————————————————————-
May I know if the webste is actually down or Is it un available in other countries .In this senario , how can I avail my credit bureau report ?
May Thanks
Anu
Hi, Anu
I just tried the website, it is working. Maybe it blocked IP from other countries. You can try to call the hotline 6565 6363 to enquiry.
Dear Ivan,
Need ur advise …
i need urgently to renovate my purchase resale house. Base on their officer assessment i can loan up to max $16K. However upon submission 2 bank rejected my application, with no reason given. I believe due to the last loan i take in year 2012 and already settled in 2014 and most is all late payment. But still i hv already settled them. How to clear my bad report reported in the credit bureau? can i appeal via mail to their officer?
Hi, Alomi
Yes, you should appeal. Normally the bank would like to hear your reasons. You should also talk to the banks who you have long term relationship with as they can see your credit record and are more comfortable to loan you.
What does HX grade means? Please define in layman terms.
Hi, Amy,
You mean HH? It has no meaning, just alphabetic order of the grade.
There actually is a HX grading. Besides what is shown on the explaination details. I guess it means very high probability of defaulting. I had that before i was able to pay off my loans, which i defaulted on for quite a while.
Hi, Mitchell
Thank you for highlighting this. 🙂
Hi,
If one is blacklisted by the local banks to open an account.
Can he/she open an account with a foreign bank?
Dan
Hi, Daniel
Different bank has different account opening policies, you just have to apply and try.
Thanks for the reply. But it seems all local banks has rejected.
Would chances be better with foreign banks?
Hi, Daniel
I think that depends on the reasons why you were rejected. Nowadays there are a lot of regulations governing the financial systems, so if it is due to regulation, nobody can do anything.
Alright then, Thanks.
I’m wondering how accurate does the bank updates their records with CB. I only found out today that the cc account I closed 2 years ago has an outstanding balance of $2.50 and it’s giving me a GG status for the last 12 months though it was closed 2 years ago!! I longer have access to the account, I wasn’t inform of my outstanding of $2.50 for the last 12 months and it is ridiculous to find out through my credit report when that bank didn’t even have the courtesy to inform me about it! The best part I don’t even know how they derived with the amount and when I called the call centre they ask me to just pay it when they can’t provide me the computation.
Hi, Karen
I agree with you. unfortunately, in today’s world, we are no longer human beings in the eyes of the financial system, but just some numbers.
What should I define the score shows as GX, it’s mentioned that Non-scored Risk Grades.
Can you tell me more about the non-scored risk grades and what exactly it does have an understanding to a lender?
Thank you,
Surya Das
Hi, Surya
Where did you see non-scored risk grade?
Hi , I wanna take Home loan from bank . My credit risk is GX . It’s posiible to get loan from banks ?
Hi,I’m a work permit holder from malaysia would like to know how to apply free credit bureau report or any charges will be how much?It is for my country reference please help thank you.
Dear David
I believe this credit report is only for Singaporean and PR
It means to say if work permit holder Malaysian log in with singpass will not getting the report right?
Dear Ivan, how can we repair our credit report if its bad? Im asking cos due to some outstanding credit card issues, my credit report has fallen into e HH side. It has been a few years since my payment has been totally cleared but still my credit report is not good.
Any advice from your kind self? Would appreciate if u can drop me an email.
Thanks.
Dear Wee
That is a good question. There is no quick way to fix this but one effective way is to start borrow small and pay them off. In this way, you demonstrate to the bank that you have the ability to control your credit.
You can also try some of the other methods here.
I had renovation loan rejected from 3 different banks. This is because I did not know that my closed and without outstanding credit card account status is still in the CBS records. Therefore, my credit report display these 3 banks making enquiry to CBS. CBS informed me that the credit account status will be erase in 2 weeks time. Would those enquiries affect my renovation loan if I would re-apply again?
Dear Dale
Banks look at loan approval in totality, and each has their own “secret” model to calculate the credit risk. Unfortunately, nobody knows how they assess your credit. Like what I encountered, my credit card limit increase was rejected without even giving a reason.
I am trying to request for a copy of my credit file online and always be prompted the webpage cannot be found, I am overseas on business trip , can you teach me how to get a copy of my credit file online.
Dear Sim Guan
Unfortunately, CBS has been shut down since February, following a case of defacement of the website.