Card_Crafter
TF Ace
An update on this :
SBI is one week before statement generation date for me.
CSB Jupiter Edge - Month end.
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Credit Card CIBIL Reporting Date
- Thread starter TechnoFino
- Start date
SBI is one week before statement generation date for me.
CSB Jupiter Edge - Month end.
pradeepG
TF Premier
as citi bank reports on statement date, YES your utilisation will be 0% in this card account in CIBIL
cool.Still to be on safe side ,i will clear that amount as well
Yes... the balance will be reported as on report date...
this report date could be staement generation date or month end depeding upon the Bank..
Please check your banks reporting date...
any balance before or after reporting date will not matter...
shutapdiya
TF Legend
Though statement generation date is 25, sometimes I have seen Citi generating statement on 23rd if there is holiday on 24/ 25
Hence would recommend to before 23rd making sure it gets settled by 23rd
TiVoGlObE
TF Select
@TechnoFino - is this list getting updated? if so i would like to confirm my SBI CB cc statement date is 3rd & cibil reporting date being 26th of previous month so agree with some of the members here on 8 day gap in reporting.
@SSV Also, do we have any threads/data on which exact date the outstanding amount is reported on for? eg: my SBI Cibil reporting date was 26th March & my last payment before this date happens to be on 18th march & it was a full payment of everything outstanding (close to 1L). however, SBI reported on 26th march to cibil that I had 1L os with last payement date as 28th Feburary. nay idea why that would bethe case?
@SSV Also, do we have any threads/data on which exact date the outstanding amount is reported on for? eg: my SBI Cibil reporting date was 26th March & my last payment before this date happens to be on 18th march & it was a full payment of everything outstanding (close to 1L). however, SBI reported on 26th march to cibil that I had 1L os with last payement date as 28th Feburary. nay idea why that would bethe case?
TiVoGlObE
TF Select
Checks out for me, call it Due date + 3 days or Bill generation - 8 Days both checks out same. my bill generation is 3rd, Due date is 23rd & reporting date is 26th
TiVoGlObE
TF Select
Another Imperio user, very fast updation for general cards, Co-branded is slow updation. Imperio updates every 30th/31st - but this is not reflected untill 15th . That means, the reported data is not reflected in 1st of next month Cibil report, it will show up on 15th day of the month cibil report only.
TiVoGlObE
TF Select
I'm glad i got someone talking about this, everyone saying the data as on reporting date gets reflected while i can clearly see in my reports its not correct.
In fact I have noticed the flow is too difficult to follow > 1. reporting date > 2. the data reported is for a different date > 3. the date by when Cibil reports get reflected is again a new date
I mean, eg reporting date maybe 31st March, the data that was reported maybe for 18th March, The date on which Cibil shows this data refeshed & score recalculated maybe 15th of April.
even if all your CC's are reporting date as 30th March, not all of the CC's get updated in Cibil together on a same day. By 6th April, i'll see HDFC & SBI reflected & scores adjusted accordingly... by 15th April, Federal gets reflected & by 18th I can see axis updated, by 20th I have HSBC & ICICI posted. All these (except SBI) have 31st as the reporting date but still updated week by week later in CIBIL.
I don't know if there is any other threads talking about this.
@SSV @TechnoFino
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D₹V
TF Prestige
Yes, you're absolutely right.
Some banks report usage (due) on date
While some banks report max usage in the month, every banks report accordingly.
Mostly all banks report usage (exact on that date) on month end or bill date except SBI.
SBI report usage (as exact on bill generation date) after 20-23 days after bill generation.
Meanwhile SBI being BBPS enabled & now 99% apps works on BBPS. You can't pay bill if bill isn't generated for previous statement 😂 until you know NEFT/IMPS method.
So it's hard to make usage zero (0) in all cards practically.
Normally user should not think about usage much if below 30%.
But when I have to apply any card in upcoming months, I make usage zero of cards in previous month, so my CIBIL score climbs to highest point possible as per calculation.
TiVoGlObE
TF Select
Oh my analysis (could be completely wrong) points this out as a complete scam!
Cibil score's have the biggest + easiest Impact via credit utilisation %. The overall schema of things looks to me like this -
lets say you have utilised 30,000 Rs this month overall credit. assuming this is your first ever Cibil report, the value of 30K is your base amount & your current score, ex: 770, is based on this usage.
100% utilisation reduction - If you are able to make pay all outstanding before next report generation (example 30th of the month) + also make sure no new credit usage has happened. Your Cibil report should show as 0 outstanding as on 30th & your cibil should increase, at best by 20 points & make it 790. This is best case scenario.
25-50% reduction - If you were able to somehow get the next bill outstanding to 20K, you reduced around 33% from base value of 30K last month & your scores should increase moderately, lets say by 3-7 points.
50%-75% reduction - If you were able to bring down the amount to 10K example - This makes a 66^ reduction from base value of 30K & an increase of 9-12 points seem possible.
Less than 25% reduction - is the utilisation is still around 25-27k - Don't expect any increase or decrease to scores. it remains as is.
Utilisation Increase - If in case your OS goeas up from 30k last month to 45K which is a substancial jump, this will decrease your score again by 10-12 points making it around 755-760.
Once reset with a new outstanding amount, whatever it, that amount becomes the new base, i.e. 100% and next month calculation is basis this new base value to calculate how you performed comparitive to previous month. the delta is always +20 at best case i.e making everything a perfect 0 outstanding to over leveraging credit usage, (no caps on over usage) decrease is around 10-12 Points.
the whole point is, you can have 1 best case scenario, that too once, that is to make outstanding amount to 0 everywhere & get a 20 point boost in a single month. Once you hit the 0 outstanding somehow (or get the 20 points over a period of 2-3 months by reducing usage over time) there is nothing to improve anymore, because 0 is your new base utilisation, the next month can again be 0 i.e no change or something more than 0, which is over utilisation - BAM! lost points again! Game reset!
All this is assuming everything else remains constant, number of credit line's don't matter. How did i put this undertsanding together? some months of data & the Cibil simulator helped
So overall, the utilisation part is the daily driver of scores - it brings score down, then it goes up slowly, falls back again, its a vicious loop we think we own, play & control but its designed so well that its just mathematical algo messing with us creating an illusion of control.
Actual improvement can be done only if this parameter + a couple other's can be controlled for a continuous period of time so the positive changes outweight negative play & net impact is increased points every month. I don't see anyone here having that effect for a long time. Anytime that happens over a period of 8-12 months, in the name of algo improvement they hit you back down & make you grind back again. Never have I seen a pattern of sudden increase in points, its always a decrease & thats a dead giveaway!
D₹V
TF Prestige
Yes, it's matrix 😁
Axis is reporting on bill generation date for few cards and month end for few cards.
Rbl has reported on bill generation date for me.
Sbi is reporting on one week before bill generation date.
D₹V
TF Prestige
For CIBIL, Axis report on bill generation & for Experian, it's month end.
From long long time.
TiVoGlObE
TF Select
Axis - are you sure? Axis reports twice a month for all cards for me. One is month end and the other is payment date +1 day to any card before 15th of that month. (I'm not sure on the 2nd date as a definite co-relation to establish requires data for another 2 months on my own.
SBI - Logic is bill due date + 3 days , confirmed this in writing with SBI. The day is mathematically also bill generation date - 7 days
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