1. What is CTOS?
CTOS is a Credit Reporting Agency (CRA).
CRAs collate publicly available data which can be used by businesses to verify information provided by their customers. This enhances the decision-making process and helps businesses know their customers better.
2. Are the activities of Credit Reporting Agencies regulated?
Yes. CRA’s are regulated under the Credit Reporting Agency Act 2010.
3. Can I prevent Credit Reporting Agencies from keeping information about me?
No. Credit reporting agencies are legally empowered by the CRA Act 2010 to collect and keep information about you.
4. Where does CTOS get its information?
CTOS collects information from various sources, for example:
• publication of legal proceedings in newspapers and government gazettes
• Companies Commission Of Malaysia
• Malaysia Insolvency Department
• Subscribers’ contribution
Information may also include payment histories from public utilities companies, landlords, government and statutory bodies and local councils.
5. Can I access to my own credit report?
Yes, you can. This enables you to know what is in your credit report and verify that the reported information is accurate and up-to-date. We refer to this as a CTOS Self Check Report
6. Can I get my credit information over the phone?
No, we need to verify your identity before we can provide you your report.
7. How can I get my CTOS Self Check Report?
The quickest and easiest way is to register an user id with CTOS. To get your user id, please refer to No 9 below.
With your user id ready, you can access your report anytime over the Internet. You will also be able to enjoy other benefits. (Please refer No 9 below.)
8. As a potential guarantor, can I get the credit report of the person whom l intend to guarantee?
Yes, provided that person gives his consent to CTOS to release his report to you. You cannot get his report without his consent. Therefore, you need to ask the person to provide his consent to CTOS to release his credit report to you. You also need to have a user id registered with CTOS in order to receive the report. Please apply for one.
9. How do I get my user id with CTOS in order to access my CTOS Self Check Report?
You only need to register for an user id with CTOS once.
Once your user id is activated (ie verified), you can request for your CTOS Self Check Report via the Internet or SMS at any time.
How do I get the user id ? There are 4 ways to get your user id with CTOS:
1. Smart Phone Registration (iPhone and Android)
- Download the CTOS application from iTunes or Google Play
- Follow the instructions.
2. Online Registration
- Logon to http://ctosid.ctos.com.my
- Click on “Register User Id ” and follow the instructions.
- Next, send us a copy of your MyKad (both sides) for verification purpose.
3. Biometric Registration
- Come to our office with your MyKad and let our officers assist you.
4. Manual Form Registration
- Complete the hardcopy of the User Id Application Form. This form is available in some financial institutions.
- Send the completed form and a photocopy of your MyKad (both sides) to the CTOS office.
10. Who decides on my loan applications? Does CTOS tell the banks and financial institutions what to approve or reject?
No, CTOS is not involved in any of the financial institutions’ lending decisions.
11. My credit application was rejected by a financial institution. Does it mean that I am blacklisted?
No, but it shows you could not meet the requirements of the lender. Loans are approved based on many factors such as:
• purpose of the loan
• source of repayment including your disposal income and repayment capacity
• your total borrowings and past credit history
• your character
• The lender’s lending policies and risk appetites.
One or more of these factors may have led to the rejection of your application.
12. My credit application was turned down by a financial institution. Will all other financial institutions do the same?
Banks have their own lending policies and risk appetites.
What is rejected by one bank could be acceptable to another.
However, undischarged bankrupts or wound-up companies are unlikely to get their applications approved regardless of which banks they approach.
13. Can I update my record to reflect the case settlement/conclusion?
If your Self Check Report does not reflect that you have settled a default, you may forward us documentary proof of your settlement/conclusion. Documentary evidence includes the letter of discharge or settlement, court order striking off the case, etc.
We will insert the relevant settlement remarks in your record as soon as verification of the documents is completed.
14. What can I do if I find inaccurate credit information in my CTOS credit report?
If you have an user id with CTOS: Simply log in to the CTOS website, and lodge your correction request. Send us scanned copies of the relevant documents supporting your claim.
If you don’t have an user id with CTOS: You may request for any correction by writing to CTOS and providing the relevant document supporting your claim.
If valid, the correction will be made within 21 days. If CTOS is unable to comply with the correction request, you will be notified within the 21 days.