TIPS to improve my CCRIS record to improve my chances of successfully applying for a loan?
If you have high credit utilization, pay down some your credit lines before submitting a loan application.
Your CCRIS information is updated on the 15th of every month e.g. information for Jan 2013 will only be updated on 15 Feb 2013. So if you have paid down your credit lines anytime from 1-31 Jan, time your loan application submissions on the 16th of Feb.
A consistent string of 1’s in your repayment behaviour could indicate payment due dates that are earlier than your pay day. Try to get your bank to delay the billing cycle.
If you have known late payment records, wait 12 months from your last known late payment record before submitting a loan application
Limit your amount of loan and credit applications. If shopping around, shop around first, then selectively apply for the best products. Contrary to popular practice, too many loan/credit applications actually hurt your chances of getting the best deals.