The Credit Report

Posted on 2:19 PM | By Smart Wealth Advisory | In

The information in your credit report has a huge impact on whether or not you qualify for a mortgage loan and what interest rate a lender will offer. Therefore, it’s important your credit report reflects a positive image of the way you manage your money. If you're getting ready to buy a home, checking your credit report is the best way to ensure you get the loan and interest rate you deserve.

You can obtain your credit report from
The Credit Bureau.

Established in 1982 and managed by Bank Negara Malaysia, the Credit Bureau collects credit information on borrowers from financial institutions and furnishes the credit information collected back to these institutions. The information contained in the credit bureau helps financial institutions make informed lending decisions in a more timely manner.

The Credit Bureau will keep factual information about your:

- Personal particulars such as name, identity card number and address

- Credit account details such as type of credit facilities, credit limit, outstanding balance, conduct of account and status of legal action, if any.

Credit information is kept in the Central Credit Reference information System (CCRIS) which is a computerised database system that processes and collates the information into credit reports which can be made available to the public upon request.

About the Credit Report

The Credit Report incorporates the following credit information of a borrower:

Outstanding Credit (s)

All outstanding credit facility obtained by the borrower, either under -

(a) his own name;

(b) a joint name with another person;

(c) a name of a sole proprietorship; or

(d) a partnership or a professional body.

Such outstanding credit facility would exclude any accounts which have been fully settled.

Special Attention Account (s)

All outstanding credit facility under close supervision by financial institutions.

Application(s) for Credit

All applications approved in the previous 12 months for the borrower, either under

(a) his own name;

(b) a joint name with another person;

(c) a name of a sole proprietorship; or

(d) a partnership or a professional body.

The applications would not include any application that have been rejected, deleted or canceled.

How to obtain a credit report?

1. If you reside in Klang Valley:
Obtain your credit report in person from Laman Informasi Nasihat dan Khidmat (LINK) of Bank Negara Malaysia at the following address:
Ground Floor, Block D,Bank Negara Malaysia,
Jalan Dato' Onn,50480 Kuala Lumpur.
Supporting documents needed include your driving licence or utility bills.

2. If you reside in areas outside Klang Valley:
Submit a Credit Report Request Form and a Loan Declaration Form available from:
i.Credit bureau's website
ii.Bank Negara Malaysia branches nationwide

Submit completed forms with these supporting documents by post/fax/email to:
Corporate Communications Department,
Bank Negara Malaysia,
P.0.Box 10922,
50929 Kuala Lumpur.

Faks: 03-2174 1515
Should you find any inaccurate information about your loans in the credit report, you should refer to the BNM TELELINK for a review immediately.

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