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| photo credit: freemalaysiatoday.com |
Consequences? Impact on financial or credit facilities by financial institutions.
Here's my case. I've been working for about six months and is now considering to apply for a credit card. I wanted one just for general usage, grocery shopping and fuel. I've tried Maybank, CIMB, and Citibank cards, all were basic credit cards. Prerequisite and eligibility has been checked through, income is more than the required. Unfortunately, all applications were rejected. The first time I thought maybe there were some problem with my online application or documents uploading, so I tried another. The second time with another bank, I was totally rejected from submitting my online application forms and redirected to a new page stating: unable to proceed with my application. From that moment on, I have doubt about my CCRIS but instead, I do not trust online application method even more.
Two month later, I managed to pay up all my PTPTN overdue debt plus, I've managed my monthly instalment. For the third time, still not feeling defeated I approach a credit card centers and submit through a sales person. Two days later, a rejection sms. Only then it realy hit me, I am not a desirable candidate for a credit card.
No, third time's not a charm. I have hunch that CCRIS may be the factor and boy am I right. I went up to Bank Negara and printed out my CCRIS report from the kiosk.
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| Proudly present my credit report |
Not good. In fact, VERY BAD. I did not repay my loan for seven months. If PTPTN were "ah long", I already lost 10 of my fingers or more given my two PTPTN loans. Starting November 16', I started repaying all my overdue and service my monthly installment but I still getting note #1. The reason is that I was late for that month. (the key is always pay on the first week of every month) Also, remember to check up with them regarding your account once a while.
Fear not, this is not the end of the world, I have to service my repayment on-time and diligently every month from now on. Then I am able to push the 7...6.. and 5... away from my report. For now? Just forget about any credit facilities and be patient and keep on working.
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Some may ask, why don't you never check your ptptn repayment schedule when you received repayment notice letter? Why do you never pay them back? That, is a long story. Cut to the chase: I was not granted to waive my loan to scholarship although I graduated with a first class degree. Reason? My course changed name - with a word "science" added to it. Without a hitch, all of my course mate managed to switched to scholarship. Just me, I went up from local office to headquater and laid all my cards, still I was not granted the waiver after all the appeals and waiting. What do I get at the end of the day?
I've lost badly... the battle with PTPTN. Worse, now I ended up with a scratched credit report. Two lesson learned. #1 Never underestimate the power of PTPTN today #2 If you made your bed, you have to lie on it. Loan is a loan and there are rules that come with it. Don't simply mess with financial institutions.
