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Free CTOS Credit Reports Available Nationwide

by Gopalakrishnan Nair
Eric Chin CTOS

CTOS Data Systems Sdn Bhd, Malaysia’s leading credit reporting agency, announced the offering of free MyCTOS reports with CCRIS for consumers as part of a nationwide financial empowerment campaign.

CTOS has revealed that over the past 12 months, there has been a 52% increase in consumers accessing their CTOS credit report, and a recent survey showed that 57% of consumers checked their credit due to financial issues caused by the pandemic.

“Covid-19 and the uncertainties that came with it has highlighted the urgent need for Malaysians to get on top of their financial health. However, based on CTOS data, currently only around 1.3 million out of the approximately 15 million working population in Malaysia perform self-checks to access and manage their personal credit information. To encourage more people to take the first step towards manging their financial health, CTOS is launching the free MYCTOS reports with CCRIS for consumers campaign, as part of a nationwide financial empowerment effort,” explained Eric Chin, CEO of CTOS Data Systems Sdn Bhd.

A CTOS personal credit report contains detailed information about a person’s debt, account histories for credit cards and loans such as payment history, including any late payments, credit limits or loan amounts, account balances and credit inquiries. Legal cases and bankruptcies are also listed in a separate section of the credit report as well as directorships and business interests.

Banks and other lenders use this information as part of the credit evaluation process before approving any credit applications like credit cards and loans. The importance of having a good credit report isn’t limited to financial products only. Potential landlords may also review an applicant’s credit report to decide whether to rent their property or not. Some employers even check credit reports as part of the job application process.

Eric Chin, CEO of CTOS Data Systems Sdn Bhd
Eric Chin, CEO of CTOS Data Systems Sdn Bhd

“At CTOS, we aim to empower as many people as possible with the right tools and knowledge to make good financial decisions, especially in times like these when it matters most. It’s about having the clarity and understanding of your financial position to work towards your financial goals. Checking your MyCTOS credit report is the first step of that journey,” said Chin.

The free MyCTOS Report with CCRIS campaign is available through CTOS as part of the CTOSCARES initiative until 31st July 2021.

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