Buying a new home, taking up a new mortgage for your house and wondered what your credit report rating is?
You’ve decide to run your own credit bureau search but your credit rating report turns out with a list of codes and alphabets that you can barely understand.
We’ve constructed a glossary list to help you decode the codes.
Code Product Type
BL Bridging Loan
RL Real Estate Loan
PR Private Real Estate Loan
HD HDB Loan
MT Margin Trading
MV Motor Vehicle
UO Unsecured Overdraft
SO Secured Overdraft
PO Partial Secured Overdraft
PL Personal Loan
UP Unsecured Personal Loan
SP Secured Personal Loan
PP Partial Secured Personal Loan
SL Study Loan
RE Renovation Loan
CC Credit Card
UC Unsecured Credit Card
SC Secured Credit Card
PC Partial Secured Credit Card
RS Restructured Loan
* Inactive Account
A Current to 29 day past due (DPD)
B 30 to 59 day past due (DPD)
C 60 to 89 day past due (DPD)
D > 90 day past due (DPD)
E Account closed with no outstanding
F Account closed with outstanding
G Voluntary Closure with outstanding
H Involuntary Closure with outstanding
R Account is closed with outstanding
S Account is closed with negotiated settlement
W Account written off
What is Day past due (DPD)?
Let’s use an example for illustration. Let’s say the due date for your credit card payment is due on the 10th of June. You paid off your credit card bills by AXN on the 15th June. Your payment is late by 5 days and has a record of 5 dpd.
Anyone that has a late payment on his loan repayment by less than 29 days or dpd is still considered favourable by many banks. Watch out if it gets past 30 days and earns you a “B” code in your credit report. Some banks may turn away applicants with a few “B” codes. It displays bad repayment conduct and behaviour by the applicant / borrower.
We hope this glossary have been helpful in helping you understand a little more about your credit rating report.