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?

 

[nikhilv0303]

Well I got a reply from Axis saying they cant chage it in Cibil yesterday.

However when I checked the score today its back to 786 and when I check the Axis account the late payment is removed so thankfully they removed the late payment from my Cibil

Congratulations!
You can check in CIBIL report if that payment is showing as late or not

 

[Dr.AMAN]

Well I got a reply from Axis saying they cant chage it in Cibil yesterday.

However when I checked the score today its back to 786 and when I check the Axis account the late payment is removed so thankfully they removed the late payment from my Cibil

Finally all's well that ends well. God to see that Axis took the morally right decision although they had every legal right to deny

 

[federer.reddevil]

Congratulations!
You can check in CIBIL report if that payment is showing as late or not

Its showing on date Days Past Due is 0 so thats good

Finally all's well that ends well. God to see that Axis took the morally right decision although they had every legal right to deny

Yes thanks to you and TF community this issue has been resolved and my Cibil is back to normal 786 was 787 before thats fine then

 

[federer.reddevil]

Finally all's well that ends well. God to see that Axis took the morally right decision although they had every legal right to deny

Can I try the same method for Experian also?

 

[Dr.AMAN]

Can I try the same method for Experian also?

Yes. I thought Axis might have already corrected Experian also by now. If not just ask Axis to correct Experian report too. Same with Equifax (HDFC's favourite.) CRIF u can choose to ignore. Most banks dont care about it

 

[federer.reddevil]

Yes. I thought Axis might have already corrected Experian also by now. If not just ask Axis to correct Experian report too. Same with Equifax (HDFC's favourite.) CRIF u can choose to ignore. Most banks dont care about it

Yes I took the report today and its corrected however still score is less compared to before 772 vs 788 but certainly more than the 709 at end of October.

For some reason as per 31st Oct report both Equifax, CRIF and Highmark have not decreased

 

[Dr.AMAN]

Yes I took the report today and its corrected however still score is less compared to before 772 vs 788 but certainly more than the 709 at end of October.

For some reason as per 31st Oct report both Equifax, CRIF and Highmark have not decreased

Axis usually doesnt care about CRIF and Equifax and doesnt report them as immediately as they do to Cibil/experian. Maybe they didnt care to report the late payment to these 2 agencies before this issue got resolved thays y ur equifax/crif score didnt change.

 

[jro]

Are there services and consultants who can fix the score - I missed a couple of payments recently and a near perfect score has gone to shit.

 

[federer.reddevil]

Axis usually doesnt care about CRIF and Equifax and doesnt report them as immediately as they do to Cibil/experian. Maybe they didnt care to report the late payment to these 2 agencies before this issue got resolved thays y ur equifax/crif score didnt change.

Anyway glad this issue is fixed thanks for your help along with TF community's

 

[Dr.AMAN]

Are there services and consultants who can fix the score - I missed a couple of payments recently and a near perfect score has gone to shit.

Dont know anybody personally but there r many Cibil score consultants online and on youtube. Go through a few videos and find out which one looks genuine and contact them. But ultimately ur Cibil repair depends on your negotiation skills with the bank and your past history. If u have missed payments for the first time then try to politely ask the bank to give a one time goodwill gesture. No need to depend on these professional consultants unless u r planning to take a loan in near future and have faced some big fraud in Cibil report.

 

[jro]

Dont know anybody personally but there r many Cibil score consultants online and on youtube. Go through a few videos and find out which one looks genuine and contact them. But ultimately ur Cibil repair depends on your negotiation skills with the bank and your past history. If u have missed payments for the first time then try to politely ask the bank to give a one time goodwill gesture. No need to depend on these professional consultants unless u r planning to take a loan in near future and have faced some big fraud in Cibil report.

I did miss payments for the first time but both the RM and BM are clueless and the phone banking guys keep promising a callback that does not ever come. This is why Im inclined to just pay for and sort this. I dont need a loan next couple of years BUT dont want this biting me in the ass if I ever needed one in the coming days.

Thanks for your inputs!

 

[Dr.AMAN]

I did miss payments for the first time but both the RM and BM are clueless and the phone banking guys keep promising a callback that does not ever come. This is why Im inclined to just pay for and sort this. I dont need a loan next couple of years BUT dont want this biting me in the ass if I ever needed one in the coming days.

Thanks for your inputs!

RM and BM r powerless in these issues. Cibil disputes r handled by higher ups, usually at nodal officer level. Try sending an email to Level 1 first( which will most likely deny any help) and then escalate to Nodal desk and MD (if required).