Debt consolidation Plan

[Jojodespo]

Ah that makes your BTI only 8x which doesn’t qualify you for DCP. Balance transfer don’t really look at credit rating to qualify. As Long as you have available credit limit, they may approve you. But you need to leave behind 20% of your credit limit in the applying bank else might reject.

For you, I think you can try to cut your monthly expenses per month and pay more than your minimum for now.

Thanks Bro, my monthly income is 2.8. I know about balance transfer and stuff but my credit rating is bad and I don’t know if bank will still approve them.

 

[Jojodespo]

There are plenty of approvals with MBB. Especially those wit HH rating. But it’s subject to your current credit standing with the bank. If you’re FF and above, I would recommend going with SCB.

Just got rejected by dbs. Applying mbb now. Anyone successful with mob?

 

[garyjuve90]

Thanks bro, for now I will just try clear those high interest first. Think positive guys

Ah that makes your BTI only 8x which doesn’t qualify you for DCP. Balance transfer don’t really look at credit rating to qualify. As Long as you have available credit limit, they may approve you. But you need to leave behind 20% of your credit limit in the applying bank else might reject.

For you, I think you can try to cut your monthly expenses per month and pay more than your minimum for now.

 

[Jojodespo]

You can either try clear the high interest ones, or clear the lowest outstanding accounts. Then when each account is cleared, you’d feel better and will give you more confidence to clear more.

Thanks bro, for now I will just try clear those high interest first. Think positive guys

 

[Jaychou1309]

Just got rejected by dbs :’(

 

[Youandme8888]

Just got rejected by dbs :’(

Bro why not concentrate on improving your rating?

What is your rating and credit score currently?

 

[hwaa]

Hi
Anybody still approach Credit Counselling Singapore? Are they still useful for people with debts?

definitely. do not feel paiseh to approach them!

 

[Jojodespo]

Bro, it was a bad move to go with DBS.
1. Their approvals are close to nothing
2. Rejection only adds enquiry to your credit report, and may also pull your rating down.

You should work on
1. improving your rating first by continuously paying slightly more than minimums for a few months
2. Make sure you don’t lapse in any payments
3. Don’t sign up for any unsecured credit facilities

Then you should
1. Apply with high approval rate banks, read thru this thread to see the trend of approvals.
2. Currently, SCB, MBB, HSBC has higher approval rate. Go apply for these first.
3. Credit rating FF and above - apply with SCB, rating GG and below - apply MBB, HSBC, UOB.

Keep fighting and don’t give up..

Just got rejected by dbs :’(

 

[bozoka86]

any success story here with dbs 8 years?

 

[Manythanks]

There are plenty of approvals with MBB. Especially those wit HH rating. But it’s subject to your current credit standing with the bank. If you’re FF and above, I would recommend going with SCB.

Thank you! I’m actually a BB.. but dbs rejected me, and mbb taking a Long time to get back to me.. am getting worried. Do they call to inform of status or will they just mail you reply?

 

[Manythanks]

any success story here with dbs 8 years?

Not for me =\

 

[Jojodespo]

You can actually call the Maybank DCP hotline. They will inform you of the status there. When did you last apply for MBB DCP?

Thank you! I’m actually a BB.. but dbs rejected me, and mbb taking a Long time to get back to me.. am getting worried. Do they call to inform of status or will they just mail you reply?

 

[Manythanks]

You can actually call the Maybank DCP hotline. They will inform you of the status there. When did you last apply for MBB DCP?

They were still asking me to countersign the application form this morning. How long will it take?

 

[bozoka86]

this thread seems to become quiet. not as proavtive as last few months

 

[Jojodespo]

Oh still early bro. Maybe today they’d check your CBS, then give it 2 fags. You can call on this Tuesday to check status.

They were still asking me to countersign the application form this morning. How long will it take?

 

[Jaychou1309]

Rating is HH credit score is 1714. Improved from 1633 to 1714. Guess gonna improve even more before applying again

Bro why not concentrate on improving your rating?

What is your rating and credit score currently?

 

[Jaychou1309]

Thanks bro for your advice. I have been paying my bills timely and paying slightly more than minimum as you had advised previously in the thread.

My rating improved from 1633 to 1714 but still under Hh rating. Have to try harder to improve them.

Maybank rejected me last nov. Maybe I should apply with them again. Hsbc rejected me too right from the start citing that i dont meet the minimum?!

Am now waiting for UOB’ reply. Submited on Monday and till now still no reply i guess is bad news already. Sigh. Why so hard....

Bro, it was a bad move to go with DBS.
1. Their approvals are close to nothing
2. Rejection only adds enquiry to your credit report, and may also pull your rating down.

You should work on
1. improving your rating first by continuously paying slightly more than minimums for a few months
2. Make sure you don’t lapse in any payments
3. Don’t sign up for any unsecured credit facilities

Then you should
1. Apply with high approval rate banks, read thru this thread to see the trend of approvals.
2. Currently, SCB, MBB, HSBC has higher approval rate. Go apply for these first.
3. Credit rating FF and above - apply with SCB, rating GG and below - apply MBB, HSBC, UOB.

Keep fighting and don’t give up..

 

[Jojodespo]

Nice one dude!! Keep it up and you’ll keep going up in no time!!! Once above GG, quickly apply le!

Rating is HH credit score is 1714. Improved from 1633 to 1714. Guess gonna improve even more before applying again

 

[bozoka86]

mine GG1742.
BOC say need increase to EE than higher chances to approve?

 

[Jojodespo]

FF is ok le. Once you hit FF, try apply with SCB. Higher chances of approval.

mine GG1742.
BOC say need increase to EE than higher chances to approve?