Earlier this week, the Kuala Lumpur High Court ordered CDS to pay businesswoman Suriati Mohd Yusuf RM200,000 in damages, along with RM50,000 in costs, for an inaccurate negative credit rating. Suriati alleged that CDS had given her a negative credit rating based on inaccurate information, leading to personal and business losses.

Corporate lawyer Wong Kar Ling from HAEME Advocates & Solicitors said the ruling could incentivise more individuals and businesses to challenge inaccurate credit reports and seek redress from credit reporting agencies for any resulting harm.

How do you get a picture of your financial health? 

You can get a CCRIS report. A CCRIS report is an important element of having a potential loan approved, which makes it an essential part of the early steps towards owning your first home.

What Is A CCRIS Report?
The Central Credit Reference Information System (CCRIS) is a system created by Bank Negara Malaysia’s (BNM) Credit Bureau to provide standardised credit reports on a potential borrower.

CCRIS is basically a centralised database which offers a picture of your financial health. BNM is provided with monthly updates by relevant institutions to compile the necessary information, such as:

  • Banks
  • Insurance providers
  • Development financial institutions
  • Payment instrument issuers
  • Credit leasing companies
  • Government agencies
  • Private utility companies

This then enables financial institutions and lenders to effectively assess the creditworthiness of a potential recipient through reference to a recorded financial history.

In addition, BNM can also assist financial institutions in reaching faster and better informed lending decisions, by providing them with these credible reports.

How Do I Get My CCRIS Report?

The CCRIS report is an important document, and it’s good to stay up-to-date with how your report looks like if you’re considering purchasing a new home.
Currently, there are three methods to get your CCRIS report:
  • The eCCRIS portal – The helpful CCRIS online platform provides simple, secure access to your CCRIS report whenever you need it. Registration will vary, depending on your current situation and will be explained in a dedicated segment below.
  • CCRIS kiosks – These kiosks are available at the premises of Agensi Kaunseling dan Pengurusan Kredit (AKPK) nationwide. Simply insert your MyKad into the credit kiosk, provide your thumbprint, and once your identity has been verified, you can print a CCRIS report.
  • Approved Credit Reporting Agencies – As previously mentioned, these are private companies with their own credit reports. Unlike the previous two methods which are free, these Credit Reporting Agencies may charge a fee for their services. You can get your report via this method through the following agencies:


Getting a loan with bad credit can be challenging, but it’s not impossible. While having a low credit score may limit your options and potentially result in higher interest rates, there are still avenues you can explore to secure the financing you need. In this guide, we’ll explore various strategies and tips for obtaining a loan with bad credit.

  • Understand Your Credit Situation: The first step in securing a loan with bad credit is to understand your credit situation. Obtain a copy of your credit report from major credit bureaus like Equifax, Experian, and TransUnion. Review your report carefully to identify any errors or inaccuracies that could be dragging down your score. Dispute any discrepancies you find to improve your credit profile.
  • Explore Different Lenders: Traditional banks and credit unions may be less likely to approve loans for individuals with bad credit. However, alternative lenders such as online lenders, peer-to-peer lending platforms, and community banks may have more flexible lending criteria. Research various lenders and compare their terms, interest rates, and eligibility requirements.
  • Consider Secured Loans: Secured loans are backed by collateral, such as a vehicle or real estate. Because the lender has recourse if you default on the loan, they may be more willing to extend credit even with bad credit. However, keep in mind that if you fail to repay the loan, you risk losing the collateral.
  • Apply with a Co-Signer: If you have a trusted friend or family member with good credit, consider asking them to co-sign the loan. A co-signer essentially guarantees the loan and agrees to repay it if you default. Having a co-signer can increase your chances of approval and may even result in a lower interest rate.
  • Improve Your Credit Score: While this won’t provide an immediate solution, taking steps to improve your credit score can help you qualify for better loan terms in the future. Pay your bills on time, reduce your debt-to-income ratio, and avoid opening new credit accounts unnecessarily. Over time, these actions can have a positive impact on your creditworthiness.
  • Offer a Larger Down Payment: If you’re applying for a loan to make a purchase, such as a car or home, offering a larger down payment can mitigate the lender’s risk. A substantial down payment demonstrates your commitment to the purchase and reduces the amount of money the lender needs to finance.
  • Demonstrate Stable Income: Lenders are more likely to approve loans for individuals with a stable source of income. Provide documentation of your employment history, including pay stubs, tax returns, and bank statements. If you have a steady job with sufficient income to cover the loan payments, it can offset the negative impact of your credit score.
  • Apply for a Small Loan Amount: When you have bad credit, it’s essential to be realistic about the loan amount you’re seeking. Applying for a smaller loan may increase your chances of approval since it represents less risk to the lender. Additionally, successfully repaying a small loan can help rebuild your credit over time.
  • Seek Alternative Financing Options: In addition to traditional loans, explore alternative financing options such as payday loans, installment loans, and cash advances. While these options often come with higher interest rates and fees, they may be more accessible to individuals with bad credit.
  • Be Prepared to Negotiate: When applying for a loan with bad credit, don’t hesitate to negotiate the terms with the lender. While they may initially offer less favorable terms, such as a higher interest rate, you may be able to negotiate for better terms based on your individual circumstances.

While obtaining a loan with bad credit can be challenging, it’s not impossible. By understanding your credit situation, exploring different lenders, considering alternative financing options, and demonstrating your ability to repay the loan, you can increase your chances of approval and secure the financing you need. Additionally, taking steps to improve your credit score over time can open up more opportunities for better loan terms in the future.

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