oh din't know can appeal, will try email them
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.
Actually I hold 2 master degrees (one from local ivy) and 1 grad diploma and a few years working experience while my batch all just graduated with a first degree when I graduate with my last degree. Who says sinkieland no local talent (neh, shld humble ma, we r skilled workers, they r skilled migrants) de? So, yes, I am 1987 not 88 (I guess ppl can put 88 as it is a prosperity number, no law says must stick to the norm), but already working multiple jobs liao.
The bank loan I have is for tuition fee loan for NUS master degree, $10k. Paid fully and now no more loan for years already. Yes, per date, I already have 3 credit cards under my belt, and canceled all previous credit cards of $500 limit.
Yes, now I paid $5 for the $2 payment. CIMB still have not refund me back the other $3. So how, now the bank owe me $3, I will grade the bank a very low grade and dun bank with them anymore? Ridiculous. The grading system is a bit too rigid and does not even accommodate more different situations. And the bank make a transaction of $3 and mail me a letter with postage costs? Lol.
Umm ok, paiseh for wrong assumption on the life history
As for missing the payment I'm pretty certain that's how it works. That's why upfront they list all your credit cards down and the payment history, and it's a simple Y or N for payment made in full. The details about outstanding amounts come later in the report. Hence, it's logical to guess that CBS places more emphasis on timely payments as compared to amount owed.
So I suppose you can try to defend your idea of logic here, or take it up directly with the ones who actually have control over your rating....
Yes, now I paid $5 for the $2 payment. CIMB still have not refund me back the other $3. So how, now the bank owe me $3, I will grade the bank a very low grade and dun bank with them anymore? Ridiculous. The grading system is a bit too rigid and does not even accommodate more different situations. And the bank make a transaction of $3 and mail me a letter with postage costs? Lol.
Both reports show your delinquency presence is dragging your score greatly. Think this is something you need to improve.
Haha,
After tremendous waiting time requesting review thru email, I gt a call frm cbs. Guess what, they like reciting from script. Repeat n repeat. You hv this hv tat, u wrong this wrong tat, everything consumer fault de, n push everything saying its bank fault la, system vendor fault, basically the whole world is at fault .
Ask them ani way to epediate, all dunno, when google show there are ppl paying to request faster updating. Ask them hw long to bounce back, all dunno, den taichi until no choice, push to vendor.
Den reason until they no longer hv ani evidence say is nt cc equiries fault. My name on the report oso can write wrongly, still dare say system no possibility of making error. Lai lai, I oso worked in system programming till machine learning lvel, no one on earth dare say prediction from system cater every situations n 100% accurate de.
Whole wotld at fault sia. Still loop my time for more than 20 minutes. Tsk tsk, cannot imagine tat our credit score is with them. All dunno, google hv more answers, lol. Better dun say too much hor, later score won't go up for decades n its whole world fault again.
Don't think they can reveal the exact algorithm for your score no matter how you probe...
My credit rating was AA in early 2016, then dropped to BB in May 2016, so I gathered I have applied for too many new cards in 1Q (take advantage of card promo)....
Not much activity in past few months and with some card cancellations, my credit rating is now back to AA again (with recent new card application).
So I guess frequency of card applications will also affect the rating.
Bro i don't think CBS places more emphasis on timely payments as compared to amount owed.
My Account Status History
DBS : AAAAAAAAAAA
NNNNNNNNNNN
YYYYYYYYYYY
ANZ : AA*AAAAAAMM
NN-NNNNNNMM
YY-YYYYYYMM
UOB : AAAAAAAMM
NNNNNNNMM
YYYYYYYMM
Haha, no debt at all. All paid. Including any tuition fee loan or personal loan. Other loan hv not started.
Credit limit on all cards, < 30%.
Tracked the grades everytime, everytime applied one or two card (max 3), drop one grade, esp when it is lower than the middle grade. U wan all the reports, I still hv (free ma, every app gt 1 free).
Sometimes ppl just talk/accuse w/o any base or evidence de. Lai, I gt all the evidences.
how do i view my own credit score? is it FOC?
Key Contributing Factors associated with this Rating
Credit Exposure Moderately Increases Risk
Immature Credit History Marginally Increases Risk