Kuala Lumpur, 15 August 2024 – In the spirit of Jiwa Merdeka, CTOS, Malaysia’s premier credit reporting agency, is championing financial literacy by offering 67,000 free MyCTOS Score reports to first-time users via the CTOS Mobile App. This special campaign runs from 15th August to 20th September 2024 and aims to empower Malaysians with the knowledge to make sound financial decisions.
Empowering Malaysians for a Stronger Financial Future
With a working population of 17.1 million, only over 4 million Malaysians have accessed their credit report through CTOS. This means that more than 75% have yet to understand their credit standing. In line with the Jiwa Merdeka spirit, which signifies the nation’s freedom, patriotism, and progress, CTOS is dedicated to offering this service to those who have not yet subscribed.
“Out of a working population of 17.1 million Malaysians, so far just over 4 million people have checked their credit report with CTOS, which means that over 75% are still to do so. In line with Jiwa Merdeka, which expresses the people’s freedom and patriotic spirit, while building a strong, harmonious and progressive nation, CTOS is happy to be offering free MyCTOS Scores to the rakyat who have yet to subscribe to CTOS,” explained Erick Hamburger, Group CEO of CTOS Digital Berhad.
Alongside this initiative, CTOS continues its commitment to enhancing financial literacy through various public awareness events and contests, contributing to building a more financially aware Malaysia.
Why Credit Scores Matter for All Malaysians
Credit scores are crucial for every Malaysian, regardless of race, age, or income level. A healthy credit score is an indicator of financial stability, aiding in decisions related to significant purchases such as cars or homes. Moreover, a good credit score increases a consumer’s attractiveness to lenders, assuring financial institutions of a borrower’s reliability.
CTOS’s initiative is perfectly aligned with the government’s 2024 Jiwa Merdeka campaign, emphasizing that credit scores are beneficial for all Malaysians, supporting a harmonious and progressive society.
Understanding the MyCTOS Score Report
The MyCTOS Score Report offers comprehensive insights into an individual’s creditworthiness. It includes the CTOS Score, CCRIS records, litigation and bankruptcy information, directorship, business interests, and trade reference listings (eTR). The report is generated using proprietary data from CTOS and CCRIS information, reflecting a person’s payment history, amount owed, credit history length, credit mix, and new credit applications.
These five factors are critical in calculating the MyCTOS Score, a three-digit number ranging from 300 to 850 that represents an individual’s creditworthiness.
To redeem this free MyCTOS Score Report, users simply need to download the CTOS App, sign up, and enter the promotional code “Merdeka67” during the campaign period.
Take the First Step Towards Financial Freedom This Merdeka
As Malaysia celebrates its 67th Merdeka, CTOS invites you to make this occasion meaningful by taking charge of your financial future. Understanding your credit score is the first step towards achieving financial freedom. For more information, download the CTOS Mobile App or visit CTOS Credit.
