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 cancelled 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 cancelled 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.