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ICICI Credit Card EMI and Credit Bureaus

asm07

TF Select
I have an EMI ongoing on one of my ICICI credit card. Earlier ICICI was reporting billed amount as limit utilisation to credit bureaus. But since last month I am noticing they are reporting the outstanding amount as limit utilisation. Is this a new change from ICICI how they report to CIBIL etc.? Because of this my credit card utilisation shoot up from 5% to 12%.
 
It's reporting correctly. When you have an EMI your total outstanding amount will be reported as total utilization every month. As you pay your EMI it reduces every month. Don't worry its normal when you do an EMI on any Banks CC.
 
It's reporting correctly. When you have an EMI your total outstanding amount will be reported as total utilization every month. As you pay your EMI it reduces every month. Don't worry its normal when you do an EMI on any Banks CC.
It happened only last month. Previously since starting of the EMI they were only reporting the billed amount every month.
 
I have an EMI ongoing on one of my ICICI credit card. Earlier ICICI was reporting billed amount as limit utilisation to credit bureaus. But since last month I am noticing they are reporting the outstanding amount as limit utilisation. Is this a new change from ICICI how they report to CIBIL etc.? Because of this my credit card utilisation shoot up from 5% to 12%.
Something similar has been happening to me for the last three months. Previously, only the total outstanding amount was reported, but now they are including the EMI outstanding in the total outstanding amount being reported. This is causing the credit card utilization reported to the credit bureau to increase. I think this is a new policy by ICICI Bank, which could be problematic for some people.
 
Something similar has been happening to me for the last three months. Previously, only the total outstanding amount was reported, but now they are including the EMI outstanding in the total outstanding amount being reported. This is causing the credit card utilization reported to the credit bureau to increase. I think this is a new policy by ICICI Bank, which could be problematic for some people.
I think since current financial year they have adopted this change as it's reflecting since April/May.
 
Something similar has been happening to me for the last three months. Previously, only the total outstanding amount was reported, but now they are including the EMI outstanding in the total outstanding amount being reported. This is causing the credit card utilization reported to the credit bureau to increase. I think this is a new policy by ICICI Bank, which could be problematic for some people.
Yes, ICICI Bank has updated few policies Refunds above 5K will be credited directly to your SB if linked with the card account.
In my case only the current outstanding is being reported to Cibil not the EMI total.
 
Yes noticed a while ago..

From Profile Post:
Not sure if any other bank follows this.. but it seems ICICI starts reporting 'Loan on Credit Card' to CIBIL separately along with Credit Card.
Actually, when we take 'loan on card' it blocks some limit in our total limit and release every month.
It report under credit card a/c in CIBIL not as a separate loan account.
But now, both 'loan on card' and 'loan againt card' in ICICI report as 'loan account' to CIBIL.

And surprisingly, when it closed its no longer shown in either active or closed accounts section. Somehow it vanished. So, not sure why they do like that..
 
Yes noticed a while ago..

From Profile Post:


And surprisingly, when it closed its no longer shown in either active or closed accounts section. Somehow it vanished. So, not sure why they do like that..
I asked icici social media team yesterday about this changed way of reporting to bureaus and they had no clue. The executive told as far as she knows, only billed amount gets reported. When I told her since May it's reporting the blocked limit from total limit against emi as utilisation, she asked me to share cibil over email. Let's see how they respond.
 
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