DPD in CIBIL

[NishantK]

I am an employee of a central govt PSU. I earn a decent pay. Previously I had some health emergency in my family due to which I wasn't able to pay my loans and DPDs are reflected in CIBIL in 3 of my loan account. This happened 10-11 months ago. Now I have a 768 cibil score and also got approved for credit cards. However I am not getting approved for personal loans from icici or hdfc bank due to this dpd issue. Till now much time should I wait to apply for a personal loan in these banks. Right now I am paying all my dues on time. Someone please guide me on this issue

 

[anisharya16]

What is dpd?

 

[NishantK]

What is dpd?

Days past due

 

[SSV]

I am an employee of a central govt PSU. I earn a decent pay. Previously I had some health emergency in my family due to which I wasn't able to pay my loans and DPDs are reflected in CIBIL in 3 of my loan account. This happened 10-11 months ago. Now I have a 768 cibil score and also got approved for credit cards. However I am not getting approved for personal loans from icici or hdfc bank due to this dpd issue. Till now much time should I wait to apply for a personal loan in these banks. Right now I am paying all my dues on time. Someone please guide me on this issue

Generally DPD will lose it’s relevance after 36 months..
Before that each bank has its own criteria..
You need to try different banks

 

[NishantK]

Generally DPD will lose it’s relevance after 36 months..
Before that each bank has its own criteria..
You need to try different banks

How much previous payment record does icici and hdfc bank checks?..this DPD incident occurred 10 months ago.. icici sales team told me that they check the past 6 months.. however payment history of my past 6 months are totally clear and I even got approved for 3 icici credit cards..current cibil is 768

 

[SSV]

How much previous payment record does icici and hdfc bank checks?..this DPD incident occurred 10 months ago.. icici sales team told me that they check the past 6 months.. however payment history of my past 6 months are totally clear and I even got approved for 3 icici credit cards..current cibil is 768

Most likely you will be fine after 12 months...

 

[Dr.Anand456]

here are two key things to know about past due data on your credit score:

1. Data Retention: Credit bureaus like CIBIL typically maintain your credit report data for a minimum of 3 years. After this period, the negative impact of past late payments starts to diminish significantly.
2. New Credit Applications: You may be eligible to apply for new personal loans and credit cards after 12 months of consistently making on-time payments. However, approval will depend on your overall creditworthiness, not just the age of your past dues.

Here's a more positive way to frame it:

By consistently making on-time payments for the next year, you can demonstrate responsible credit behavior and increase your chances of approval for new credit products.

 

[NishantK]

here are two key things to know about past due data on your credit score:

1. Data Retention: Credit bureaus like CIBIL typically maintain your credit report data for a minimum of 3 years. After this period, the negative impact of past late payments starts to diminish significantly.
2. New Credit Applications: You may be eligible to apply for new personal loans and credit cards after 12 months of consistently making on-time payments. However, approval will depend on your overall creditworthiness, not just the age of your past dues.

Here's a more positive way to frame it:

By consistently making on-time payments for the next year, you can demonstrate responsible credit behavior and increase your chances of approval for new credit products.

Yes...almost 1 year have been passed since that incident...all timely payments on all loans..cibil reached 768 and also got approved for credit cards of icici...main query is that till how much months of past payment history does pvt banks like icici and hdfc check?

 

[Dr.Anand456]

Yes...almost 1 year have been passed since that incident...all timely payments on all loans..cibil reached 768 and also got approved for credit cards of icici...main query is that till how much months of past payment history does pvt banks like icici and hdfc check?

While it's not an absolute rule, banks typically review your financial history from the past 12 months..

 

[mukesh01]

I got an ICICI credit Card in Mar 2020, I made a purchase expecting some income but that was deferred because of COVID and lockdowns so I could pay that dues in Oct only with 50% interest, thankfully that wasn't a high amount but high at that time for me.
My CIBIL decreased to less than 600.
After that ICICI also closed that card and I didn't think about any other CC or PL for 2 years but after two years my friend needed some money and I took a PL from KreditBee and paid on time.
And after that, my CIBIL bounced back. (Holding 6CC, one PL of 11L FROM HSBC and one Overdraft from HSBC)
The reason
Create a lot of accounts
Pay on time.
So your percentage of on-time payments increases a lot compared to late payments, this is most important.
One advice - don't take PL from any app.
CC should be the best option and pay later is second best.

 

[V360V360 is verified member.]

here are two key things to know about past due data on your credit score:

1. Data Retention: Credit bureaus like CIBIL typically maintain your credit report data for a minimum of 3 years. After this period, the negative impact of past late payments starts to diminish significantly.
2. New Credit Applications: You may be eligible to apply for new personal loans and credit cards after 12 months of consistently making on-time payments. However, approval will depend on your overall creditworthiness, not just the age of your past dues.

Here's a more positive way to frame it:

By consistently making on-time payments for the next year, you can demonstrate responsible credit behavior and increase your chances of approval for new credit products.

DPDs are never taken off from your CIBIL report - its a gimmick when they project 2 tabs - 36 months and 84 months.

If there is a default, the history stays forever.

 

[amitr29]

I am an employee of a central govt PSU. I earn a decent pay. Previously I had some health emergency in my family due to which I wasn't able to pay my loans and DPDs are reflected in CIBIL in 3 of my loan account. This happened 10-11 months ago. Now I have a 768 cibil score and also got approved for credit cards. However I am not getting approved for personal loans from icici or hdfc bank due to this dpd issue. Till now much time should I wait to apply for a personal loan in these banks. Right now I am paying all my dues on time. Someone please guide me on this issue

There is a categorisation in CIBIL, which is late payments or any delinquency in last 36 months. After 36 months, your record will be clear, if you don't delay any other payment in due course.

My CIBIL was stuck at 787 with 2 delays in Amex payment due to renewal fees reversal. It used to show 2 payment delays in 36 months. Once, that particular dpd crossed 36 months, my CIBIL score jumped to 800+