HDFC Credit Card reported to CIBIL in the same month of issuance

[Anil_Singh]

My HDFC Millennia Credit Card approved and got delivered on 26th Feb 2023. Added the card to CRED on the same day that made a payment of Rs.1 on my HDFC CC.

I just happen to check my CIBIL Score on my Google Pay app and found out that my CIBIL dropped by 9 points. To my surprise, HDFC already reported the newly delivered card to CIBIL along with Feb payment i.e, Rs.1.

My billing date is 10th, so my 1st bill is not even generated.

Can HDFC do this?

 

[ltf4ever]

My HDFC Millennia Credit Card approved and got delivered on 26th Feb 2023. Added the card to CRED on the same day that made a payment of Rs.1 on my HDFC CC.

I just happen to check my CIBIL Score on my Google Pay app and found out that my CIBIL dropped by 9 points. To my surprise, HDFC already reported the newly delivered card to CIBIL along with Feb payment i.e, Rs.1.

My billing date is 10th, so my 1st bill is not even generated.

Can HDFC do this?

View attachment 11300

first of all, don't worry about a 9 point drop in cibil, it will climb back and even get better in the next couple of months if you continue paying on time and all else same.

i am not sure of the exact cutoff dates but if the card was approved on 26th, the cibil enquiry was before that and maybe hdfc had to report all enquiries before month end.

 

[Anil_Singh]

first of all, don't worry about a 9 point drop in cibil, it will climb back and even get better in the next couple of months if you continue paying on time and all else same.

i am not sure of the exact cutoff dates but if the card was approved on 26th, the cibil enquiry was before that and maybe hdfc had to report all enquiries before month end.

Its not about enquiry, its about reporting to CIBIL even before bill generation.

 

[Dinnong]

Its not about enquiry, its about reporting to CIBIL even before bill generation.

Yes, they reported mine too before bill generation. My card was approved on 21st January and reported to cibil on 31st January.

 

[romilq]

Its not about enquiry, its about reporting to CIBIL even before bill generation.

What does bill generation have to do with this ? It’s about issuance only. You availed a credit product and a credit limit has been assigned and available ready to use. So it has been reported. It would have dropped by a few points next month if not this month. It doesn’t make any difference. It will recover with regular payments.

 

[Anil_Singh]

Yes, they reported mine too before bill generation. My card was approved on 21st January and reported to cibil on 31st January.

I am not alone.

 

[Anil_Singh]

What does bill generation have to do with this ? It’s about issuance only. You availed a credit product and a credit limit has been assigned and available ready to use. So it has been reported. It would have dropped by a few points next month if not this month. It doesn’t make any difference. It will recover with regular payments.

Again, I clearly mentioned that my query is not about points drop. I know that it will bounce back in a few weeks. I was just curious. Never saw any bank report before 1st bill generation. Rs.1 was reported as usage and also they reported unknown payment as well which I never did. Got my point?

 

[SiddharthR]

Thread 'Credit Card CIBIL Reporting Date' https://www.technofino.in/community/threads/credit-card-cibil-reporting-date.375/
HDFC reports to CIBIL on month end

 

[Anil_Singh]

Thread 'Credit Card CIBIL Reporting Date' https://www.technofino.in/community/threads/credit-card-cibil-reporting-date.375/
HDFC reports to CIBIL on month end
View attachment 11403

I know that bro.. my query was something else.. leave it

 

[SiddharthR]

I know that bro.. my query was something else.. leave it

I understood what u meant to say.
They will report to CIBIL at the month end regardless of bill generation date or first bill generation date
And the CIBIL drop may be due to ₹1 limit reported by bank. Max out limit if you can, in future, it can boost your Score a little

 

[Anil_Singh]

I understood what u meant to say.
They will report to CIBIL at the month end regardless of bill generation date or first bill generation date
And the CIBIL drop may be due to ₹1 limit reported by bank. Max out limit if you can, in future, it can boost your Score a little

We can maxout? Its 25k only. I will maxout in a single transaction through BharatNXT. Its already at 12k. ☺

 

[ltf4ever]

I am not alone.

then escalate to pno and rbi. if they give you an explanation that is different from what you got on this thread, then update it here; the community will learn something new from you.

and if they give you the same reason posted here, then that will put to rest your concerns.

 

[Anil_Singh]

then escalate to pno and rbi. if they give you an explanation that is different from what you got on this thread, then update it here; the community will learn something new from you.

and if they give you the same reason posted here, then that will put to rest your concerns.

Will do that. Thanks.

 

[Dinnong]

Again, I clearly mentioned that my query is not about points drop. I know that it will bounce back in a few weeks. I was just curious. Never saw any bank report before 1st bill generation. Rs.1 was reported as usage and also they reported unknown payment as well which I never did. Got my point?

Unknown payment of 1rupee is reversal from cred.

 

[Anon1]

Mine also dropped 9 points after HDFC added to my CIBIL this month but I have spent Rs.1000+

 

[Anil_Singh]

Unknown payment of 1rupee is reversal from cred.

I meant to say 'unknown amount'. Leave it. Not interested anymore.

 

[Anil_Singh]

Mine also dropped 9 points after HDFC added to my CIBIL this month but I have spent Rs.1000+

Exactly 9 points drop? @Dinnong how much your's dropped?

 

[Anon1]

Exactly 9 points drop? @Dinnong how much your's dropped?

Yes

 

[SSV]

I think what @SiddharthR saying here is right. It is all about reporting date , not statement date irrespecitve of whether it is first bill or not...

Please see below message which is related to my AXIS bank card, which also holds good wrt HDFC card as well. I have given an example..

CIBIL - CC Current Balance

Hello Everyone! My CIBIL Score was 769 when I last checked. After 10-12 days, yesterday I checked & refreshed my report & my score fell to 760. The only notable difference I could see was - earlier my credit utilization was 0% & now its at 2%. On further checking, my CC report shows Current...

www.technofino.in

As regards to the CIBIL score, having even Rs 1 as current balance also will reduce a score of about 10 when compared to current balance <=0, where as CRIF is not worried about minor % utilization...

 

[hs23]

My issue is opp. HDFC is not reporting card in CIBI after 1 month also. Please suggest how get HDFC to update CIBIL.