Debt consolidation Plan

[Jojodespo]

Great job dude. 1633 to 1714 is a huge jump already!! Perhaps your credit exposure is too high causing the Low rating.

If you don’t succeed with UOB, I suggest you wait a month or 2, then try again with MAYBANK. Hopefully your rating has gone up again

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....

 

[bozoka86]

compare SC and boc. i find boc lower.

 

[bozoka86]

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

86*01:25 PM Today

compare SC and boc. i find boc lower.

 

[licious]

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?

They wont call or mail you on the status. U need to call maybank hotline yourself. Somehow if your application is approved, u will receive other banks sms notifications to inform on due to dcp and they had suspended ur acct...with smth like this u know it's approved already. But calling them up is better

 

[Youandme8888]

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

How long did it took you to improve from 1633 to 1714? One month?

 

[bozoka86]

Yes... BOC IS 4.7

bro.. i saw some earlier post u also have another dcp with other bank. so yours is boc or other bank? u make me very confuse.. or u have 2 username?

 

[Jaychou1309]

2 months? I started to work on my rating since july last year. It only improved by 2-3 until this month it jumped quite high. So gonna continue.. will probably take few more months to improve my ratings. Sighhhh

How long did it took you to improve from 1633 to 1714? One month?

 

[Youandme8888]

2 months? I started to work on my rating since july last year. It only improved by 2-3 until this month it jumped quite high. So gonna continue.. will probably take few more months to improve my ratings. Sighhhh

So you meant by paying on time since July it had increased by 2-3?

I heard from UOB CSO trying pay abit more and at least 1 week before due dates help.i myself is doing that for now too

 

[bozoka86]

Applied with SCB, 7 years tenor for 66k loan (include 5% buffer)
Income documents used - 3 months payslip $4617 monthly
Credit rating at time of application FF - 1768

22 Dec’17 - Submitted application to CSO, CSO informed that most likely application will be routed to account checks on 27th Dec’17 as it’s holiday season
28 Dec’17 - CSO called to update address as address for card and application are different
28 Dec’17 - Bank checked CBS
29 Dec’17 - Received SMS on update of address
29 Dec’17 - CSO called to inform that case has been routed to approvals Queue, but cannot proceed further as the account has an overlimit of $220. Was told to quickly make payment and send her receipt. Most likely will be routed back to approvals again on 2nd Jan’18 as it’s New Years holiday
2 Dec’17 - Bill payment into SCB not yet reflected in account yet, CSO will wait until payment is reflected to route case back to approvals Queue
3 Dec’17 - Check SCB account in morning and saw bill payment. Informed CSO that overlimit is clearer. CSO proceed to route to approvals Queue
3 Dec’17 - CSO informed unofficial approval on DCP as SCB is updating DCP registry to Ensure no other banks can add their case in DCP registry. CSO informed to give SCB about 5 working days to dispense outstanding to all banks. After dispensing to all, then approval letter with instalment amount and card will be sent

Total working days from application to approval: 4 days
(Excludes public holidays, Christmas and new year)

hi bro. just to check can i change my mailing address during dcp application? i dont want those letters send to my home for fear my parents may open and view

 

[bozoka86]

I was approved by Uob first but the interest is damn high... 7plus percent... So I refinance three mths later with BOC at 4.5

ohhh.. boc staff say they only accept bti 16.5 max.. haiz.. me 18 times

 

[bozoka86]

Oic... Mine is at ard 16 x
Than why bank did u apply? Is it approved?

i waiting for my cbs grade to increase in 2 months time. currently is GG

 

[Jojodespo]

Yes. You should quickly change your mailing address for ALL banks just in case you are approved and they start sending all the notice of your accounts being suspended due to Approval if DCP. Mine did that, heng I changed address lol.

If your application fails, you will definitely get a physical letter of rejection that is sent to the address you put during your DCP application.

hi bro. just to check can i change my mailing address during dcp application? i dont want those letters send to my home for fear my parents may open and view

 

[Jojodespo]

BOC definitely lower, but they’re not desperate to market DCP plans, thus they will offer lower interest rate to those clients who have good credit rating and history. BOC has Low approval rates too.

SCB has higher approval rates with ratings above FF. My CSO said in my week of approvals, there were 23 other approvals.

To me, I value the approval more than the interest, being so desperate, id rather be approved with a higher interest bank with higher approval rate, then to apply for a lower interest bank with lower approval rate.

86*01:25 PM Today

compare SC and boc. i find boc lower.

 

[bozoka86]

hz rating

apply 10 years

owe 140k

bro..whats your NOA and credit rating when you apply?

 

[bozoka86]

BOC definitely lower, but they’re not desperate to market DCP plans, thus they will offer lower interest rate to those clients who have good credit rating and history. BOC has Low approval rates too.

SCB has higher approval rates with ratings above FF. My CSO said in my week of approvals, there were 23 other approvals.

To me, I value the approval more than the interest, being so desperate, id rather be approved with a higher interest bank with higher approval rate, then to apply for a lower interest bank with lower approval rate.

tks for the timrle to write. even thought your dcp approve, you still here to share your experience. good guy like you will get good karma

 

[Jojodespo]

Yup good karma, thus my approval. Was almost at my wits end already... so thankful to get DCP approved. My first CNY can give Ang bao without problem.

tks for the timrle to write. even thought your dcp approve, you still here to share your experience. good guy like you will get good karma

 

[bozoka86]

Yup good karma, thus my approval. Was almost at my wits end already... so thankful to get DCP approved. My first CNY can give Ang bao without problem.

feel happy for you!!

 

[Jojodespo]

Paying first installment on 16th feb.. lol

How long have u been on Dcp?

 

[regrettothemax]

22k u can take up a few instalment loans from multiple banks. unless your rating already beyond hope.

 

[alvinblank]

Applied for DCP with DBS, on a 60k debt with 4.2k income before seeing this thread. Can I submit another application with SCB or MBB?

My rating is HX as I only service a few loans and let the rest lapse until the cow come home. I did good with SCB and MBB loans before this.