CIBIL going down after each bill payment

[Manoj Pant]

Namaste Friends ...m new here.M new HDFC card user and my statement date is 7th of every month.After last two cc bill full and timely payment on my statement date i noticed my CIBIL is going down.I also found HDFC is not reporting my limit 2Lakh to credit bureau, Only hight credit of rs 5000 is showing on cibil .
How can I improve my credit score in this situation?

 

[panu24]

HDFC don't report your card's credit limit to Cibil. It reports only the highest spend you have done on your card to Cibil.

Did you apply to any other card or loan recently? anything got rejected from it? or you missed any other of your credit card payments?

 

[Manoj Pant]

HDFC don't report your card's credit limit to Cibil. It reports only the highest spend you have done on your card to Cibil.

Did you apply to any other card or loan recently? anything got rejected from it? or you missed any other of your credit card payments?

I had only 2 CC bill right now which I paid timley on bill statement date (20 day before due date)..Ya I applied for another CC which results on enquiry on CIBIL. But I think Hight Credit=Current Balance effecting my credit score.Does switching statement date at the end of month or Bill payment before statement date make any improvement?

 

[Rahul Gupta]

I had only 2 CC bill right now which I paid timley on bill statement date (20 day before due date)..Ya I applied for another CC which results on enquiry on CIBIL. But I think Hight Credit=Current Balance effecting my credit score.Does switching statement date at the end of month or Bill payment before statement date make any improvement?

Just use your hdfc cc full limit once at months end 30/31 and from next month your score will be fine. btw only settled transactions counts towards cibil reporting and hdfc takes two business days for settlement so you can do transactions on 28 and they will be settled on reporting date(30/31st).

One tip for you.
if you don't want to spend this much then place a amazon order on 28rth and cancel on 1st easy.

 

[TheTrickySid]

One tip for you.
if you don't want to spend this much then place a amazon order on 28rth and cancel on 1st easy.

What product would you recommend, for such huge transaction??

 

[Rahul Gupta]

What product would you recommend, for such huge transaction??

large appliances like refrigerator and good thing is you can choose delivery date of these products. You can order multiple items as well. I tried myself with a samsung odyssey g9 monitor.

 

[Manoj Pant]

Just use your hdfc cc full limit once at months end 30/31 and from next month your score will be fine. btw only settled transactions counts towards cibil reporting and hdfc takes two business days for settlement so you can do transactions on 28 and they will be settled on reporting date(30/31st).

One tip for you.
if you don't want to spend this much then place a amazon order on 28rth and cancel on 1st easy.

What if I use full cc limit and make full payment before reporting date 31st means zero statement balance? What will be the utilisation in that case? Is making full payment before bill generation date is good for Credit score?

 

[krishc]

yes, sometimes it's better to ignore CIBIL than be worried after every single point drop
from my experience, in the short run - they have many bugs and weird behaviours in scores
but over a long period it balances out

 

[Manoj Pant]

I had only HDFC credit card from past 6 years and never bothered about CIBIL score. I paid all bills on time and my CIBIL score was 790+ in this 6 years duration.

What is your statement date bro..? I m also paying bills on time but Credit score going down.

 

[Manoj Pant]

FYI: Cibil won't use accounts under 1 year much for Score computation (as per their support).

- Whats your CIBIL age?
- Max. HDFC card used limit?
- How much reducing?

My CIBIL started with Credit Card failure 3 enquiries reported last year Jan 22.
CC recieved in Nov 22
2 On time Payment made
Max limit used once 5000.out of 2 Lakh limit
CIBIL reducing 9 point per month