3 MIN READHow to read and understand your credit report

So you decided to find out what your credit score was and you went through the process of getting your credit report. Once you have it in hand, what do you do next? How can you tell what the report says? Which parts of the report do you need to pay attention to?

What is inside a CCRIS Report?

A CCRIS report contains the processed information based on the credit-related data received from participating financial institutions. The report won’t tell you whether your credit has a good or bad standing. It simply shows your credit history for the last 12 months.

It contains the following information:

1. Outstanding Credit(s)

This part shows any outstanding balances that appear under:

  • the borrower’s own name
  • a joint name with another borrower(s)
  • a name of a sole proprietorship or partnership where the borrower is the owner of the partnership or the business
  • the name of a professional body where the borrower is the member of the body
  • the name of a corporation

It also includes your outstanding amounts, limits, payment behavior, arrears, and legal status if any. A “0” in your repayments means you pay on time; however, if you are a month behind on your payments, you’ll have a “1” on that particular loan.

Credit facilities that have been fully settled are excluded from the credit report.

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2. Special Attention Account(s)

This section contains all outstanding credit facilities under the close supervision of the participating financial institutions. If a particular loan is in the process of being recovered, it is monitored by the Special Attention account system.
This usually includes accounts deemed Non-Performing Loan (NPL) or under specially negotiated debt management schedules by Credit Counselling and Debt Management Agency (AKPK).


3. Application(s) for Credit

This section contains all applications that are approved, rejected or deleted in the previous 12 months and any pending applications for the borrower. If your activity shows that you have a recent application that has been denied, your credit worth will come into question as it could mean that you are not able to make timely repayments. If you have an application that was approved recently, it will also look questionable as a financial institution may ask why you need another line of credit and whether you will be able to pay for it considering your existing commitments.

Banks and financial institutions will mostly look at the following to measure your credit score:

  • Missed or late repayments
  • Utilisation of credit limits
  • Accounts under legal status or special attention accounts.
  • High Debt Servicing Ratio (DSR).
  • Multiple credit applications or active loan

Once you have your CCRIS report, make sure you read it thoroughly. Banks and other financial institutions are careful when accepting an application so the better your credit report, the better your chances of a loan application being accepted.

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