How often is a credit report updated?

Your credit report content is never stagnant; it is constantly changing. Information in it is added or updated continously. Your CCRIS information is generally updated monthly but other information such as litigations, bankruptcy, trade references and directorships will be updated as and when it changes.

Here’s more information about how often the various sections in your MyCTOS Score report are updated:

Section B: Directorships and business interests, address records

This section is updated as and when there are changes to your information from Companies Commission of Malaysia (SSM). The information is then updated in your credit report, generally within a few days.

Section C: CCRIS Information

Your CCRIS information with Bank Negara Malaysia (BNM) is updated on the 15th of every month. CCRIS records consist of the data on your outstanding loans (e.g. type of credit facilities, payment history, instalment amount and credit limit) and credit applications (approved and pending) for the last 12 months.

Section D: Legal cases

If you were to file for bankruptcy, a record of the filing will appear on your report. That record could take up to a month to appear in your report. Once discharged, the bankruptcy information will be updated. A bankruptcy record is removed after 2 years from the date of full settlement (a settlement / release letter is required). The same goes for other legal cases, which will appear for a maximum of 2 years in your credit report.

Section E: Trade references (eTR)

If you have an unsettled debt with an organisation, that party can list you under a trade reference and this will appear in this section.

This trade reference information will be reported until the outstanding debt is settled or the trade referee delists your name. Trade referees are required to delist trade reference information within 3 working days upon settlement of the issue.

Keep us updated and monitor your credit health regularly

We strongly encourage you to update us as possible once you’ve settled payments or cases. Do send us your proof of settlement such as letter of discharge, court order,etc. We will insert the relevant settlement remarks in your record as soon as we have verified the documents.

We recommend that you monitor your credit report regularly, so you can see what information has changed in it and what part of your credit health still requires work.