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Saturday, December 02, 2006

CMAP Credit Score


Credit Score

Most of us Pinoys in the middle or working class already own a credit card or have a personal loan. But have you ever wondered what are the categories credit card companies and loan agencies are looking for whenever they are approving or rejecting an person's loan or credit card application?

The Credit Management Association of The Philippines or more commonly known as CMAP governs all member banks, credit card companies and loan agencies. What that means is whenever a person has a poor credit history due to non payment of a personal, commercial or housing loans and unpaid credit cards bills. His name will be black listed and he or she cannot obtain a loan from any CMAP member financial institution for a period of five years or more.

Upon recieving your loan or credit card application, they will immediately do a credit investigation to determine your credit score. They will enter your name of the CMAP database. If your name is included in the CMAP, your application will immediately be rejected. If it produces no hits, your application will proceed to the next level. They will enter your financial information like the credit cards you own, your income based on the ITR and assets you posses, each of them has a different weight on the credit score, some are rated more than others . Barring any other negative findings and if your credit score is high enough. Your application will get approved.

Aside from the CMAP, there are other Philippine governing bodies that exchange information with them, which is required by the Anti money laundering act or AMLA that makes it harder for people to create fictitious accounts and for those who have pending cases like estafa from opening a checking account or obtaining any loan.

Picture: mybestmortgage.ca

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  • 27 Comments:

    At 8:16 PM, Anonymous Anonymous said...

    How do I check if my name is in the CMAP database? I got into Credit Card debt before but I have fully paid it off, I'm just afraid that it would be difficult for me to obtain a loan if my name is still on that list...

    Thanks!

    Noel

     
    At 6:36 AM, Blogger cool_78 said...

    Unfortunately the CMAP database is not available to the public. It is only available to member banks and financial institutions. If you have a friend who works in a bank you can ask them to check for you or if you don't know anyone who works in a bank, pretend you will open a checking account and go straight to the manager. As a policy, banks are required to check the CMAP database before allowing anyone to open a checking account. Chika chikahin mo lang tapos pa-simpleng patanong tanong kung ano nakalagay sa CMAP data mo. Most managers will accommodate you naman. Hope that helps.

     
    At 4:29 AM, Anonymous CreditGuru said...

    You need a credit score to represent your credit information. Before you have a credit score, you need a credit report. And before you have a credit report, you need a great deal of compiled information about past and present credit actions. There are special agencies that help to know your credit score.
    Excellent Credit - 750-850
    Good Credit - 660-749
    Fair Credit - 620-659
    Bad/Poor Credit - 350-619
    No Credit - 0-0

     
    At 1:38 PM, Blogger Banker said...

    For retail lending, the score could be a valuable indication of the credit worthiness of the borrower.

    However, for commercial or corporate lending, it is how one appreciates the data that is more important, not just the static information. The report has a caveat - It does not express its opinion of the credit-worthiness of the individual. it is up to the individual using that information.

    Remember the 5Cs of credit?

    - Banker

     
    At 10:17 PM, Anonymous Anonymous said...

    nakakatakot naman ito. Hindi ko sure kung nasa CMAP na ang name ko, pero once pa lang ako nakatanggap ng demand letter. Sana hindi pa. Anong banks ang hindi masyado strict sa mga ganito? please help. I need to get/open checking account pa naman.

     
    At 4:21 AM, Blogger cool_78 said...

    Hi! Thanks for reading my blog. Sorry to say pero once nagkakaso ka you are already listed in the CMAP. But don't worry, ultimately the decision still falls on the branch manager or branch cashier if they will allow you to open a checking account even if your name is listed in the CMAP. It's very hard to open a checking account with big banks like Metrobank or BPI these days even if malinis ang record mo. They will usually let you open a savings account first and let you wait for 6 months to a year and only then will they evaluate to see if they would let you open a checking account with them. You're best bet is to open a checking account with smaller banks or even rural banks like AMA bank, First country financial, Rural bank of Makati etc., Because these banks usually have a limited number of clients and would welcome any account opened with them.

     
    At 5:18 AM, Anonymous Gracegraffiti said...

    hi, ask ko lang sana kasi i had credit cards before... na mis manage ko sila , so i ended up with demand letters, tho i was able to settle all of them, i had 4 ... and i was given a clearance from each of the banks, and now kahit anong CC applayan ko lagi akong nededecline.. would that mean im still listed in CMAP?

     
    At 8:09 PM, Blogger yummy said...

    my name is listed on CMAP since 1997. but i already submitted certificates with them i fact i had with me a copy of clearance from this office and yet i had difficulty of applying loans from different banks,pano po ba maalis ang name ko sa listings, ilan taon po pa ang prescription period. kc medyo angat na rin naman ang financial status ko. please help. tnx....

    william

     
    At 2:09 PM, Anonymous Anonymous said...

    Hi,

    Ask ko lang po If i can still apply for a personal loan outside Philippines because I will be moving to other country very soon. And I have 5 unsettled credit cards at this time. Will I also be denied of securing a loan again outside Philippines. I want to start again and save so that I can pay them when i get back and be stable again. I hope to hear from u soon. Thanks

    Angelica

     
    At 8:54 PM, Anonymous Anonymous said...

    hello, ok lang ba na ang pag bayad sa credit card is paunti unti? hindi ba maapektuhan ang credit score ko nun?

     
    At 5:47 PM, Anonymous Anonymous said...

    kasama rin ba sa cmap ang mga unpaid bills to smart pldt or globe?

     
    At 9:44 AM, Anonymous Anonymous said...

    I won a court case with which I won a substantial reward about 2 years ago. The respondent however refused to pay so we've garnished his accounts and attached some of his properties. But it still was not enough to satisfy the judgement. I have come to know that this same individual has recently taken out hefty multi peso loans on new properties he's purchased. (undoubtedly bought with the money he's been hiding and owes me) How can I report this person to make CMAP and the banks aware that he might not be a good credit risk and that I'm trying to collect from him?

    Vicente

     
    At 2:51 AM, Anonymous Anonymous said...

    Hi there. I've got a serious problem with my SALARY LOANS in Chinatrust and HSBC right now bec I failed to pay the monthly dues for almost a year already. They've sent me demand letters pushing me to pay the Remaining Balances+++. Im just kinda wondering because I'm really willing to settle my accounts with them, it's just that I am unable to do it right now due to my current financial situation. Will they file a case against me. I meant, I've signed checks and they bounced when I could no longer pay for them. I need an advice for this as I'm really disturbed right now. I could hardly sleep at night and enjoy my life because of the fear that at any given point in time, I'd get summoned and be incarcerated eventually. Please help.

     
    At 8:08 AM, Anonymous Anonymous said...

    What would happen if you disregard notices,and summons letter from the bank (BDO)? I'm sure its listed on CMAP,but what im trying to know,what would happen? and Is there any judgment for those who disregard it.

     
    At 3:36 AM, Anonymous Anonymous said...

    i was accused of violation of bp 22, but alresdy settled it, does this appear on your cmap list? if yes how can it be erased?

     
    At 3:50 AM, Blogger bong said...

    my wife is being promoted to a higher position in the bank, but the management called her attention on a bp 22 case sometime in 2008, but it was dismissed. how can we remove the list.

     
    At 11:21 PM, Anonymous Anonymous said...

    query only how long is the duration of CMAP? If it is 14 years ago na ang loan at sarado na ang Banko my record p din ba?. khit ok un payment sa closed Bank? ang problema nasa Banko?
    Pls reply.

    Maryjean

     
    At 2:19 AM, Anonymous Anonymous said...

    i have an unpaid credit card loan 7 years ago.my name is probably listed in cmap.now, my hubby is planning to obtain a housing loan from pag-ibig or PNB, will it affect his credit standing? although he has 2 credit cards approved from 2 major bank institutions and he has a high salary now?

     
    At 3:26 PM, Anonymous Anonymous said...

    hello tanong ko po kc meron po akong credit card na hindi ko nabayaran cguro mga 5 years na,at pati loan sa china trust na di ko na din naasikaso kc nga out of the country na ako. nag issue panaman ako ng cheke doon.ngun ho ang asawa ko ho eh may balak mag loan sa banko ( sa housing po ) makaka apekto ho ba yun sa aplication nya kung black listed naman ako sa cmap? many tnxs po wait ko po ang sagot nyo

     
    At 11:14 PM, Anonymous Anonymous said...

    anong telephone number po ang pwede tawagan para malaman kung may outstanding credit pa po ako sa anumang banko sa Pinas?
    Salamat po.

     
    At 11:03 PM, Blogger casper695071 said...

    got a question.... paano pag delinquent account sa isang celphone provider, maidadawit ba ang name ko sa CMAP? kasi plan ko apply ng credit card eh.. baka makita...

     
    At 10:42 AM, Anonymous Anonymous said...

    My landlady sued me for "some of money" for unpaid rental fees in 04, then i tried opening a "SAVINGS" account ( not a loan ) at BPI 4 yrs after, i was rejected because of this case. Does it mean I cannot open any kind of acct anymore? ... Is this forever? (if not, how long, until I can open an acct again?) I'm planning to open a savings acct someday ....hopefully.

    Thanks

     
    At 9:09 PM, Anonymous Anonymous said...

    hi - i will be paying my unpaid bills na s globe and smart pati na rin s avon para maauz ang credit score ko but then meron kz ko ongoing case for sum of money, will that be counted s cmap khit na hinuhulugan ko nman na un? pls help me.. thanks

     
    At 6:03 PM, Anonymous Anonymous said...

    hi.

    Equifax CSR here.

    CMAP works like the same as the ones in the united states

    pero hindi pa ganun ka seryoso eto..

    most probably, lahat ng written off accounts and bad debts nasa data base yan and depende sa creditors kung i rereport nila yan.

     
    At 3:57 PM, Anonymous Anonymous said...

    gaano katagal ang data retention ng cmap? or how will i be able to have may name or credit history be erased on that database?

     
    At 8:01 AM, Anonymous Anonymous said...

    hi, gusto ko lng pong malaman kong nasa cmap po ang pangalan ko kasi noong 2009 hindi po nabayaran ng pamangkin ko ang credit line ko sa avon?makapagloan pa kaya ako sa lending company?kasi kailangan ko talagang magloan sa lending company..ned help, asap..

     
    At 6:41 PM, Anonymous Anonymous said...

    If im blacklisted will this mean i cannot anymore avail salary loan from
    pag-ibig and sss? will it also affect my job application?pls.help...

     

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