View Single Post
Old 14-05-2016, 11:47 AM   #26
doody_
Supremacy Member
 
doody_'s Avatar
 
Join Date: Nov 2006
Posts: 7,302
For HH Grade (13 May 2016, 13 cards registration from 31 Mar to 12 May):

Bureau Score
Key Contributing Factors associated with this Rating
- Not Enough Clean History Marginally Increases Risk
- Credit Exposure Moderately Increases Risk
- Too Many Enquiries Marginally Increases Risk
- Delinquency Presence Greatly Increases Risk

Adverse
- No adverse information could be found on the subject.


For EE Grade (13 April 2016, 7 cards registration, 31 Mar to 12 April)

Key Contributing Factors associated with this Rating
- Not Enough Clean History Marginally Increases Risk
- Delinquency Presence Greatly Increases Risk
- Too Many Enquiries Marginally Increases Risk
- Immature Credit History Marginally Increases Risk

Adverse
- No adverse information could be found on the subject.

--------------------------------------------------------------------------------

This one counted (-2.07)? I oso doubt this one...

Aggregate Outstanding Balances
February 2016 Unsecured CC CIMB 0.00 0.00 -2.07 0.00
Unsecured CC DINERS CLUB 0.00 0.00 0.00 0.00
Total 0.00 0.00 -2.07 0.00

So, I go pay AXS for 2.07 (no CIMB bank account) in April, AXS say must pay min $5, so now CIMB bank owe me -2.93 (:p), still hv nt updated in report leh.

---------------------------------------------------------------

So (13 - 7) cards = 6 cards
EE - HH ~= 4 bands
6/4 = 1.5. so apply 1.5 (aka 2 cards) will drop 1 band from EE grades.

So, est if I did not apply 7 cards, my grade should up 7 / 1.5 ~= 4 bands up. Assuming it is harder to drop from grades above EE, lets make it 3 band.

So my initial grade shld be ard BB or CC.

Dunno hw long will bounce back leh.
It's clearly stated in your credit report that delinquency presence is greatly increasing the risk. Going by your nick, you're 1988, you barely started work, you're applying for a whole bunch of credit cards from different banks (greatly increasing your available credit limit), and worst of all, you already owe the bank money. It's no wonder your credit rating has plummeted...

If you look at the credit report, once payment is missed you get a N (iirc) for full payment made and a Y (iirc) for balance carried forward. It might be only $2 but a missed payment is a missed payment no matter the amount. Add on the crazy card applications and it could easily look like someone desperately trying to live off credit cards...

The other 3 contributing factors barely affect the score (my hypothesis). I used to have immature history + too many enquiries and still got AA rating.
doody_ is offline   Reply With Quote