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Credit Report Grade HH how Sia

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Old 13-05-2016, 04:56 PM   #16
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Want to ask. If apply many cards under same bank same credit limit will affect or not? Example applied both DBS Altitude Amex and Visa together. Counted as two and will drop one grade?
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Old 13-05-2016, 05:04 PM   #17
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Both reports show your delinquency presence is dragging your score greatly. Think this is something you need to improve.

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.
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Old 13-05-2016, 05:05 PM   #18
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Want to ask. If apply many cards under same bank same credit limit will affect or not? Example applied both DBS Altitude Amex and Visa together. Counted as two and will drop one grade?
This one, hmm, not so sure, cuz I applied with other cards also. I was asked to apply 2 cards at one go with HSBC at the booth, the query in the report showed two times. They hv hard pull n soft pull. Maybe first hard card pull, second card soft pull, dunno hw they see.

I googled online they say can one day apply many credit cards. Bcuz many banks most likely enquire ard the same time (esp those promise 24 hrs approval de), den they will see the higher grade report before the system update the latest grade. But after that, the grade will still sure drop one.
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Old 13-05-2016, 06:06 PM   #19
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Want to ask. If apply many cards under same bank same credit limit will affect or not? Example applied both DBS Altitude Amex and Visa together. Counted as two and will drop one grade?
they will share the same limit. i dont think any bank would grant you additional credit limit because of an extra cc.

my dbs altitude and everyday card shares the same limit.
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Old 13-05-2016, 06:18 PM   #20
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they will share the same limit. i dont think any bank would grant you additional credit limit because of an extra cc.

my dbs altitude and everyday card shares the same limit.
The question was applying many credit card from same bank will affect credit score or not.
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Old 13-05-2016, 08:44 PM   #21
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since your HH grade is very recent, what you can do is to just focus on using one credit card to improve your rating

previously i shared a method in another cc thread about improving your credit rating, which you can consider doing.

1) buy something which is between 30-50 bucks and charge it to one card.
2) wait for the transaction to be posted
3) abt 3-4 work days later, check the credit card transaction via your banking app or ibanking.
4) Once you see that this transaction has been posted, go to the nearest SAM or AXS machine and settle the full amount immediately
5) Wait one work day for the bank to reflect that they have received the payment.
6) Once received, repeat Step 1 to Step 5. Do this for a few weeks

by doing this, you are slowly clocking positive rating
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Old 13-05-2016, 09:12 PM   #22
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So, how do I increase my credit score from 1977 to a perfect 2000?
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Old 14-05-2016, 07:55 AM   #23
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The question was applying many credit card from same bank will affect credit score or not.
For DBS, add on cards are not considered a new enquiry and is not shown on credit report. if you apply through ibanking, they get approved instantly and mailed to you in 3 days.
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Old 14-05-2016, 08:16 AM   #24
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i have 'immature credit history - marginally increases risk' on my report. how long then the credit history considered 'mature'?
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Old 14-05-2016, 11:17 AM   #25
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HH rating is very bad, worse than the Cs and Ds. as far as i know, its due to problem with repayment. no payment, late payment, never pay in full, and the bank exiting you etc etc. nothing to do with you applying alot of facilities...
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Old 14-05-2016, 11:47 AM   #26
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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.
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Old 14-05-2016, 12:06 PM   #27
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Seriously why does someone so new to the workforce need so many CCs?
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Old 14-05-2016, 01:26 PM   #28
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Want to ask. If apply many cards under same bank same credit limit will affect or not? Example applied both DBS Altitude Amex and Visa together. Counted as two and will drop one grade?
it is not the application that affects your grade but the fact that too many enquires made, by banks for example, that impacts your grading.
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Old 15-05-2016, 01:27 PM   #29
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Aggregate Outstanding Balances
Unsecured Balances Non-Interest Bearing
DBS 2,404.00
UOB 14.79
HSBC 524.40

i don't understand this part ? i pay in full but this part appear on my report ?

EE grading
Too Many Enquiries Marginally Increases Risk
Immature Credit History Marginally Increases Risk
Credit Exposure Moderately Increases Risk
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Old 15-05-2016, 01:45 PM   #30
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My report also says something about too many enquiries made.. But still AA grading.
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