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HDFC Reporting to CIBIL Every WEEK!

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shrewdoc

shrewdoc

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I have noticed for the last 20-25 days, HDFC has been reporting to CIBIL every week starting from:

23 Nov → 30 Nov → 7 Dec

Previously HDFC used to report ONCE on month-end ie. on 30/31 of every month.

This is even faster and earlier than the RBI new guidelines of biweekly reporting w.e.f. 1 Jan, 2025:

My CIBIL is going all over the place ±10-12 points because of this as it deducts 10 points for any amount due in credit cards compared to Max Score when all dues are cleared.

So now, prepaying won't help much. It would be interesting to see if other banks follow suit, and it's implications on our credit score. I guess, CIBIL scoring mechanism would be needing a few tweaks now if this trend continues.

Is it the same for everyone? What are your thoughts on this?
 
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shrewdoc said:
I have noticed for the last 20-25 days, HDFC has been reporting to CIBIL every week starting from:

23 Nov → 30 Nov → 7 Dec

Previously HDFC used to report ONCE on month-end ie. on 30/31 of every month.

This is even faster and earlier than the RBI new guidelines of biweekly reporting w.e.f. 1 Jan, 2025:

My CIBIL is going all over the place ±10-12 points because of this as it deducts 10 points for any amount due in credit cards compared to Max Score when all dues are cleared.

So now, prepaying won't help much. It would be interesting to see if other banks follow suit, and it's implications on our credit score. I guess, CIBIL scoring mechanism would be needing a few tweaks now if this trend continues.

Is it the same for everyone? What are your thoughts on this?
Click to expand...
SSV said:
Yes, this is correct.
I too noticed it , they are reporting it more frequently these days . How frequently I didnt calculate it..
my score is now 789 from previous 800 as my Tata neu infinity has an outstanding balance of ₹100
Click to expand...
SSV said:
A balance of Rs 100 in one account caused deduction of 10 points..
while overall utilization is -1 %.. this was what I explained in my "CIBIL - A Practical Guide" thread..
that is how CIBIL works..

View attachment 77373


View attachment 77370

View attachment 77372
Click to expand...
Yes,
Reconfirming again , HDFC is reporting balances to CIBIL every week..
My last three reports were on
1) 01/12/2024
2) 08/12 2024 and
3) 15/12/2024..

And the last update was done on 18/12/2024 but effective reporting date was as on 15/12/2024..
So it is taking them 3 days to make an entry in the CIBIL about our balances…

All the best guys..

1734637936167.webp
 
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SSV said:
Yes,
Reconfirming again , HDFC is reporting balances to CIBIL every week..
My last three reports were on
1) 01/12/2024
2) 08/12 2024 and
3) 15/12/2024..

And the last update was done on 18/12/2024 but effective reporting date was as on 15/12/2024..
So it is taking them 3 days to make an entry in the CIBIL about our balances…

All the best guys..

View attachment 77689
Click to expand...
Yes, for my Diners Privilege card, HDFC is reporting weekly.

First on 7/12 and next one on 15/12.

Because I had a purchase of >100K during this week, my score dropped from 804 to 786!

And no portal is allowing to prepay the bills. I tried on GPay, Unipay and Cred. So the utilization ratio is going up.

Is there a way to pay the bill before the Bill is generated?
 
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lightwaves said:
Yes, for my Diners Privilege card, HDFC is reporting weekly.

First on 7/12 and next one on 15/12.

Because I had a purchase of >100K during this week, my score dropped from 804 to 786!

And no portal is allowing to prepay the bills. I tried on GPay, Unipay and Cred. So the utilization ratio is going up.

Is there a way to pay the bill before the Bill is generated?
Click to expand...
Yes you can pay through Hdfc Payzap app
 
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lightwaves said:
Yes, for my Diners Privilege card, HDFC is reporting weekly.

First on 7/12 and next one on 15/12.

Because I had a purchase of >100K during this week, my score dropped from 804 to 786!

And no portal is allowing to prepay the bills. I tried on GPay, Unipay and Cred. So the utilization ratio is going up.

Is there a way to pay the bill before the Bill is generated?
Click to expand...
You can definitely prepay, some allow only current outstanding, some even allow for more than current outstanding..for almost all banks cards.
Try payzapp / Canara Setu..
you need to try all different options for different banks cards. For some options you may not get rewards...that's life..
 
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SSV said:
You can definitely prepay, some allow only current outstanding, some even allow for more than current outstanding..for almost all banks cards.
Try payzapp / Canara Setu..
you need to try all different options for different banks cards. For some options you may not get rewards...that's life..
Click to expand...
Which among these can we get the 1% cb using HDFC Platinum card?
 
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StarLord⚡ said:
Today, when I checked my CIBIL, I saw that it had decreased by 6 points.HDFC Bank reports at the end of the month. Today I saw that they reported on the 7th. They reported what was outstanding on that date.My bill is generated on the 28th. I pay 90% of the cost every time before the bill is generated. If this continues, it will be very difficult to use credit cards.
Click to expand...
I suspect hdfc does this intentionally. It does everything in its power so that customer dont get credit from anywhere else.

1. It does multiple hard enquiry for single application/LE request. They also know most won't bother to correct it. Even if those pursue till pno and rbi bo, hdfc has around 4-5 months to update.

2. It used to keep old card active. I came to know some when upgraded their hdfc cc, and both old & new cc was shown active. When they complaint, hdfc replied rbi says close the account if cc is closed. As this was an upgrade we created new account. If we close old account, it would hamper credit score. Therefore we kept it active. 🤦‍♂️
They know it will show overleveraged, and some issuers will avoid them.

3. They know there are 2 types of customers. One is informed, who try to best rewards, utilize the credit free period fully. These people are also particular about credit score cuz they want to try any new cc with good features. Other group want a simple life. They dont bother much about credit score as they don't plan to apply for a lot of credit. They dont wait till the end to pay the bills. Incidentally these are profitable customer for the bank. Hdfc is trying to avoid group 1.
 
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Yes they are reporting weekly. My closed tata neu infinity & Marriott was previously reported on 7th December, now on 15th December.

I had an outstanding of 1.5 L on Tata Neu Infinity which was added to DCB Metal when its generated.

I paid bill on dcb metal which is successful but tata neu still showing 1.5 L.

Min Due & Total outstanding showing Zero. Limit is also Zero. I don't know when they will remove Total Amount from this card.
 
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SSV said:
You can definitely prepay, some allow only current outstanding, some even allow for more than current outstanding..for almost all banks cards.
Try payzapp / Canara Setu..
you need to try all different options for different banks cards. For some options you may not get rewards...that's life..
Click to expand...
How long will it take to get back to previous score?
 
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sidp said:
I suspect hdfc does this intentionally. It does everything in its power so that customer dont get credit from anywhere else.

1. It does multiple hard enquiry for single application/LE request. They also know most won't bother to correct it. Even if those pursue till pno and rbi bo, hdfc has around 4-5 months to update.

2. It used to keep old card active. I came to know some when upgraded their hdfc cc, and both old & new cc was shown active. When they complaint, hdfc replied rbi says close the account if cc is closed. As this was an upgrade we created new account. If we close old account, it would hamper credit score. Therefore we kept it active. 🤦‍♂️
They know it will show overleveraged, and some issuers will avoid them.

3. They know there are 2 types of customers. One is informed, who try to best rewards, utilize the credit free period fully. These people are also particular about credit score cuz they want to try any new cc with good features. Other group want a simple life. They dont bother much about credit score as they don't plan to apply for a lot of credit. They dont wait till the end to pay the bills. Incidentally these are profitable customer for the bank. Hdfc is trying to avoid group 1.
Click to expand...
great, your theory makes sense as i also faced some similar things with hdfc
 
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I think don't use credit cards for 3 months then after all reporting dates confirmed then accordingly started using credit card also, because HDFC not increasing my credit limit so try for not using their credit cards.
 
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just checked pnb started reporting early from this month. My statement date is 20th of each month. They usually report on month end.
That reported on 30th November & now on 18th December.

So I assume it's gonna be new norm across all card issuers & financial institutions.
 
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Nishan11 said:
just checked pnb started reporting early from this month. My statement date is 20th of each month. They usually report on month end.
That reported on 30th November & now on 18th December.

So I assume it's gonna be new norm across all card issuers & financial institutions.
Click to expand...
Some reporting fortnightly and some reporting weekly..
Example:
amex - fortnightly
Hdfc - weekly
 
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