Believe it or not, until recently I have never checked my credit reports, secure in the belief that nothing could go wrong with my rating since I've never, ever, been delinquent with my loan repayments. Indeed, I have never been denied a loan or a credit card owing to my credit rating. Also my rating range as shown by some banks these days never indicated anything to worry about. How naïve I was!
A few days back, while checking my Credit Report for the first time, I noticed to my horror that my old Union Bank credit card which was closed way back in April 2016, is still being reported fraudulently by Union Bank to all the Credit Bureaus as being active (the 'Date Closed' is left blank), -- and that too as a non-secured card which it never was!
* On top of that it was reported for late/non payment for 5 consecutive months in 2021 -- five years after the credit card account was actually closed by me !!!
Here is the chronology of events:
* I opened an FD with Union Bank in April 2011. On my application, a credit card was issued to me against this FD by placing a lien on it.
* I closed the above credit card on or before the FD Maturity in April 2016. Consequently the lien against my FD was removed, so I was able to close it and transfer the money to my SB account.
* I was happy to have ended all my relationship with Union Bank by then closing my SB account too.
* I have never applied for, nor did I ever have, any unsecured credit card from Union Bank.
The Union Bank reports fail obvious consistency checks too:
Date of Last Payment: January 2014.
Date Reported and Certified: 25-04-2023.
Payments were reported to be 30 days past due for 5 consecutive months in 2021. Then it somehow recovered to 'no delay' each month till April 2023 even without any payments made (remember the last payment was made back in January 2014)!
It is amazing how the credit bureaus obviously think it's not their responsibility to check the incoming data for consistency before reporting them! Perhaps they think they should adapt to the very Indian way of doing things: regurgitate the input information without applying your mind to it! Nice!
Also, isn't it strange that a credit card that was apparently unused for almost 9.5 years (since December 2013) was still kept alive by the bank? And who were the apparently renewed card(s) mailed to, since I, the apparent card owner, never knew anything about them?! The bank did have my contact information in file!
Be that as it may, what can I do now to have this mess fixed ASAP? I don't have any relationship with Union Bank anymore, so who should I write to? It is such a blatant case of fraud, I do believe that the bank shouldn't be able to get away with just removal of the fradulent reporting. They must somehow be taken to task by the RBI too, but how? Thanks for any guidance.
A few days back, while checking my Credit Report for the first time, I noticed to my horror that my old Union Bank credit card which was closed way back in April 2016, is still being reported fraudulently by Union Bank to all the Credit Bureaus as being active (the 'Date Closed' is left blank), -- and that too as a non-secured card which it never was!
* On top of that it was reported for late/non payment for 5 consecutive months in 2021 -- five years after the credit card account was actually closed by me !!!
Here is the chronology of events:
* I opened an FD with Union Bank in April 2011. On my application, a credit card was issued to me against this FD by placing a lien on it.
* I closed the above credit card on or before the FD Maturity in April 2016. Consequently the lien against my FD was removed, so I was able to close it and transfer the money to my SB account.
* I was happy to have ended all my relationship with Union Bank by then closing my SB account too.
* I have never applied for, nor did I ever have, any unsecured credit card from Union Bank.
The Union Bank reports fail obvious consistency checks too:
Date of Last Payment: January 2014.
Date Reported and Certified: 25-04-2023.
Payments were reported to be 30 days past due for 5 consecutive months in 2021. Then it somehow recovered to 'no delay' each month till April 2023 even without any payments made (remember the last payment was made back in January 2014)!
It is amazing how the credit bureaus obviously think it's not their responsibility to check the incoming data for consistency before reporting them! Perhaps they think they should adapt to the very Indian way of doing things: regurgitate the input information without applying your mind to it! Nice!
Also, isn't it strange that a credit card that was apparently unused for almost 9.5 years (since December 2013) was still kept alive by the bank? And who were the apparently renewed card(s) mailed to, since I, the apparent card owner, never knew anything about them?! The bank did have my contact information in file!
Be that as it may, what can I do now to have this mess fixed ASAP? I don't have any relationship with Union Bank anymore, so who should I write to? It is such a blatant case of fraud, I do believe that the bank shouldn't be able to get away with just removal of the fradulent reporting. They must somehow be taken to task by the RBI too, but how? Thanks for any guidance.
