Last week I applied for a credit card online from Bank A, and I was very surprised to receive an email to find out it was rejected.
In the email the bank did not reveal any reason and mentioned that I could get a free credit report from the Credit Bureau Singapore.
I was totally shocked after reading through the credit report.
In the Account Status History, it indicated that I had one credit card from Bank B which I canceled it in 2015, and this credit card was marked “voluntary closure with outstanding balance” with the outstanding amount being $0.65.
I remembered that I canceled this credit card through a call and was never been informed there was an outstanding balance by the bank staff.
And I have never received any letter / messages regarding this balance as well. I even doubt if this amount existed before I asked for the account closure, as there was no point I could leave a $0.65 outstanding balance. And why would the staff close it if the money had not been paid off.
Now the problem is – this is affecting my credit rating. I’m a bit lost as to what I can do. Can I still pay back the $0.65 to the bank since the account has already been closed? When will the records be removed from my credit report? I’m worried it will affect my credit when I apply for other credit cards or housing loans.
Your advice are highly appreciated.
Here are what netizens think:
- Trying to open Citibank card? Don’t bother. Unless u have 100k in bank somewhere before they will easily open a card for you. So what u have AA rating plenty have too. Citi unique team think why suddenly u wan to open with them when it’s so long ago you open a new card. Trying to max out for $ then report bankruptcy? Their crazy FT team is like that. Donno what they trying to do.
- Pay off the $0.65 outstanding and try again 3 months later? Also, rmb not to apply for a new credit facility to multiple banks within a short period of 1 month.
- I had this problem where I also didn’t know when I closed my account it had $4 outstanding… it reflected in my credit report and luckily I found out and paid for it using the same account no.. and it was settle.Although I was also quite pissed off to why the bank didn’t call to let me know after owning them for almost a year of closing..