CTOS

If you have experience in getting a housing loan or hire purchase, you might hear about CCRIS and CTOS. I've explained about CCRIS previously and today I would like to share about CTOS. CTOS stands for Credit Tip Off Service, it is a credit reporting agency (CRA) that collates information from various sources to aid decision making processes, especially on loans or credit applications.

By facilitating credit extensions, CTOS helps most people and businesses access credit with greater ease, for higher amounts and at faster speeds. CTOS subscribers include banks, insurance companies, lenders, lawyers, businesses, state and statutory bodies. CTOS does not evaluate or make recommendations on credit applications. Besides, CTOS has no power to blacklist anyone.

According to the World Bank's Doing Business Report 2014, Malaysia is deemed the easiest country to get credit in the world (out of 189 countries). This is because credit grantors can easily obtain information from CRA like CTOS and the transparency inspires greater confidence in credit grantors to transact with parties they know little or nothing about.

You can access your own credit report by requesting for a CTOS Self Check Report. The quickest and easiest way to get your Self Check Report is to obtain a User ID with CTOS. There are a few ways to register your User ID:

1. Register by Smartphone
2. Register Online
3. Biometric Registration
4. Manual Registration

The fastest way to get your User ID is to register by smartphone. Download and install the CTOS application on your smartphone. You can get it from the Apple App Store (iPhone/iPad) or Google Play (Android). Once it is downloaded, run the application and follow the instructions.