Missed a Credit Card repayment as Amount Reversal happened now massive drop in Credit Score

[federer.reddevil]

My due date for Axis Credit Card payment of Rs2500 was 4th Oct I made the payment on Sept 29th it was showing processing via Navi usually after some time it gets credited so I didnt bother that much

However for some reason it was refunded and I didnt know this. Next statement which came a week and half back I get a late fee payment of 500 and GST along with the bill. However on checking Cibil today it has taken a massive hit from 788 to 717. How long does it take for Cibil to get back to 775+ levels will it ever happen in the near future?

 

[Dragon_slayer]

It will take about 3 years to recover. From what i heard.

My due date for Axis Credit Card payment of Rs2500 was 4th Oct I made the payment on Sept 29th it was showing processing via Navi usually after some time it gets credited so I didnt bother that much

However for some reason it was refunded and I didnt know this. Next statement which came a week and half back I get a late fee payment of 500 and GST along with the bill. However on checking Cibil today it has taken a massive hit from 788 to 717. How long does it take for Cibil to get back to 775+ levels will it ever happen in the near future?

 

[federer.reddevil]

It will take about 3 years to recover. From what i heard.

Okey thats fine but will it reach 775+. Anyway I dont have any plans for loans in the near term but would like to have it above 775 as soon as possible

 

[Dragon_slayer]

It will, but you may be underestimating about long 3 years time is. 🙂

 

[federer.reddevil]

It will, but you may be underestimating about long 3 years time is. 🙂

Well the main thing is I want the score to improve. I dont have plans of any loans as on date. Will have to play the waiting game then

 

[Dr.AMAN]

My due date for Axis Credit Card payment of Rs2500 was 4th Oct I made the payment on Sept 29th it was showing processing via Navi usually after some time it gets credited so I didnt bother that much

However for some reason it was refunded and I didnt know this. Next statement which came a week and half back I get a late fee payment of 500 and GST along with the bill. However on checking Cibil today it has taken a massive hit from 788 to 717. How long does it take for Cibil to get back to 775+ levels will it ever happen in the near future?

Damn thats painful. That SMA 1 remark in ur Cibil will stay for few years and may hamper future CC/loan applications for some time. Try contacting Axis and explain them that it was Navi's mistake along with bill payment proof. They might consider a one-time gesture if ur repayment history has been otherwise good. Otherwise you would be paying too big a price for a small mistake

 

[federer.reddevil]

Damn thats painful. That SMA 1 remark in ur Cibil will stay for few years and may hamper future CC/loan applications for some time. Try contacting Axis and explain them that it was Navi's mistake along with bill payment proof. They might consider a one-time gesture if ur repayment history has been otherwise good. Otherwise ypu would be paying too big a price for a small mistake

It shows failed in Navi after 2 days and amount refunded so I dont know what I can show as proof a failed screenshot?

My repayment history has been perfect for 3+ years.

I would like to try this. Could you tell me what are the steps so I can atleast give it a try and hope maybe it works

 

[AkashnAkashn is verified member.]

My due date for Axis Credit Card payment of Rs2500 was 4th Oct I made the payment on Sept 29th it was showing processing via Navi usually after some time it gets credited so I didnt bother that much

However for some reason it was refunded and I didnt know this. Next statement which came a week and half back I get a late fee payment of 500 and GST along with the bill. However on checking Cibil today it has taken a massive hit from 788 to 717. How long does it take for Cibil to get back to 775+ levels will it ever happen in the near future?

Dont worry it will go up in next 3 months

 

[Dr.AMAN]

It shows failed in Navi after 2 days and amount refunded so I dont know what I can show as proof a failed screenshot?

My repayment history has been perfect for 3+ years.

I would like to try this. Could you tell me what are the steps so I can atleast give it a try and hope maybe it works

Write an email to Axis Customer care and explain that u paid on time using Navi but the payment was declined by them without informing u. In Navi app there might be details of the transaction where u paid the Axis CC bill. It might have the date and time of payment. Also explain them about your long standing relationship with Axis and flawless Cibil history till now. They should get the impression that it was a genuine mistake from ur side and not willful attempt to delay payment. Ask them for a one-time gesture from their side. They may agree to remove atleast the Cibil record but not the late penalty. If Level 1 doesnt work then escalate to their Nodal officer and finally md desk and request the same.

 

[Sai_Kiran]

My due date for Axis Credit Card payment of Rs2500 was 4th Oct I made the payment on Sept 29th it was showing processing via Navi usually after some time it gets credited so I didnt bother that much

However for some reason it was refunded and I didnt know this. Next statement which came a week and half back I get a late fee payment of 500 and GST along with the bill. However on checking Cibil today it has taken a massive hit from 788 to 717. How long does it take for Cibil to get back to 775+ levels will it ever happen in the near future?

Pay Now & Write mail to axis customer care explain this situation , they will reverse Late fee & debit interest [ including GST for both charges ]

All private banks will do this reversal as a 1 time favour/Gesture.

i get reversal of Charges for late payment from Both Axis & HDFC.

 

[federer.reddevil]

Write an email to Axis Customer care and explain that u paid on time using Navi but the payment was declined by them without informing u. In Navi app there might be details of the transaction where u paid the Axis CC bill. It might have the date and time of payment. Also explain them about your long standing relationship with Axis and flawless Cibil history till now. They should get the impression that it was a genuine mistake from ur side and not willful attempt to delay payment. Ask them for a one-time gesture from their side. They may agree to remove atleast the Cibil record but not the late penalty. If Level 1 doesnt work then escalate to their Nodal officer and finally md desk and request the same.

Sure thanks for this will definitely try I have the transaction screen showing failed and if debited its refunded so that is not an issue.

Will raise the email and see if this helps. The late fee is not an issue but the Cibil hits hard.

Dont worry it will go up in next 3 months

If Axis doesnt remove it thhen I hope it gets to 775+ as soon as possible

 

[federer.reddevil]

Pay Now & Write mail to axis customer care explain this situation , they will reverse Late fee & debit interest [ including GST for both charges ]

All private banks will do this reversal as a 1 time favour/Gesture.

i get reversal of Charges for late payment from Both Axis & HDFC.

I have already paid it the day I got the statement and found the late fees. My major concern is Cibil drop. If they rectify that I will be happy any late fee reversal is bonus

I will try @Dr.AMAN methhod first

 

[Sai_Kiran]

I have already paid it the day I got the statement and found the late fees. My major concern is Cibil drop. If they rectify that I will be happy any late fee reversal is bonus

I will try @Dr.AMAN methhod first

Yes, they do update cibil, explain like you have to take a loan in few days, this will create issue so resolve it as well.

 

[federer.reddevil]

Have sent an email to Level One today lets see how it goes

 

[federer.reddevil]

Update: Had a back and forth with Level One they are saying since you missed payment it will reflect in Cibil we cant do anything. Mailed them again asking them to reconsider they replied sorry we cant do anything.

So have sent a mail to Nodal officer explaining the situation and aing if they can remove the late payment remark from Cibil waiting for their reply

 

[rajcasio]

Most of the banks are instant in sending a payment SMS
Even if they don't send i will check with the unbilled transactions in the app
The only bank i fear is HSBC which does not reflect the payment in UNBILLED section and it will be credited only after 2-3 days
I always pay only 2-3 days before the due date for all CC's.
But for HSBC i will pay before 7 days to avoid a BIG HEADACHE

 

[Dr.AMAN]

Update: Had a back and forth with Level One they are saying since you missed payment it will reflect in Cibil we cant do anything. Mailed them again asking them to reconsider they replied sorry we cant do anything.

So have sent a mail to Nodal officer explaining the situation and aing if they can remove the late payment remark from Cibil waiting for their reply

It is not going to be easy negotiating with Axis bank especially considering that the delay was 30+ days. But no harm in trying. Level 1 doesnt have that power but Nodal officer/md desk can definitely help if they r convinced enough.

 

[ccdc]

Navi mein dc se cc bill payment pe kuch milta hai kya?

 

[federer.reddevil]

It is not going to be easy negotiating with Axis bank especially considering that the delay was 30+ days. But no harm in trying. Level 1 doesnt have that power but Nodal officer/md desk can definitely help if they r convinced enough.

Lets see how it goes