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HDFC not reporting credit limit to CIBIL

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Is it just me or are others noticing that banks are not reporting the credit card balances to CIBIL every month. I think they are doing it bi-monthly now. Most of my credit card accounts show reported month of Jan.
P.S. I have cibil membership. So i keep checking my report bi-weekly.
 
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Solution
Subhankar
No, actually. High credit is the highest amount of credit limit has been used. The primary measurement factor, which is the credit limit provided by the bank, will not be present.
It'll help on one thing only, when banks will pull out credit report, they'll be able to estimate your credit limit provided to your card
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mukundstud said:
If N/A would be considered high, then the CIBIL score of HDFC CC users would have gone down. But I have not heard anyone blaming HDFC reporting for his/her score decrease. Maybe N/A could be interpreted differently by different agencies. But atleast TransUnion i.e. CIBIL does not take 'N/A' into its calculation of CIBIL score(according to the articles). I really think that cards with no declared limit are not considered in credit utilisation calculation. Else the concept of Charge cards would not have become so popular in US. In fact, charge cards are also gaining traction in India. Does anyone here with a charge card tell whether its limit is reported in CIBIL report or not?
Click to expand...
I see, thanks again for explaining!
 
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prc1990 said:
Hi Naman,

Not sure if I understood your question correctly, but if you have other card which reports credit limits to credit bureaus, along with HDFC then please try to maintain overall (all cards together) credit utilization below 30% to avoid hurting your C-score.

But as you said since you have HDFC and other cards with very low limits then it will be very difficult for you to draw an utilization ratio line below 30%.

That's why in my opinion, it's not wise to go for a credit card with less limits even if you get it as LTF as you wouldn't have that much freedom to use your cards but again credit limit is something which is beyond our control.
Click to expand...
No a non reported limit card doesn't mix with reported limit card. U can use any way u like. It is not included in overall limit.
 
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mukundstud said:
Initially I did not care much about this non reporting of credit limit issue despite having an HDFC CC, since my CIBIL Score is perfectly fine even with an HDFC card. But seeing a lot of confusion on this thread, I decided to dig some details myself. Initially, I searched about this issue from Indian sources, but was not able to find any significant info on this. Then I thought of looking into foreign sources of information. Since HDFC does not issue its credit cards outside India(Maybe, but it would be very low in number), I decided to look for a card with similar credit reporting like HDFC Bank. And the cards which struck me instantly were the Amex Charge cards. I don't have an Amex charge card, but came to know from the Internet that it also does not report its credit limit to the rating agencies. On searching the internet for some time, I came across these videos and articles;



www.forbes.com

How Do Charge Cards Affect Your Credit Score?

On the surface, charge cards and credit cards look almost the same. Both payment methods are around 3.37 by 2.125 inches and generally made of plastic or, in some cases, metal. You use charge cards and credit cards to pay for purchases and repay the card issuer at a later date. And either type of ac
www.forbes.com www.forbes.com

How Do Charge Cards Affect Your Credit Score? - The Points Guy

Many of Amex's best rewards cards are charge cards rather than credit cards. Learn about the implications for your credit score and credit utilization ratio.
thepointsguy.com thepointsguy.com

I do not know about the much about the YouTube channel of the video I shared, but the other 2 articles are from reputed sources. The last article by 'The Points Guy' in fact, showed a TransUnion (parent of CIBIL, India)credit report screenshot of an Amex Charge card. In the screenshot, it was shown that no credit limit was reported for the charge card and the credit utilisation ratio was 'N/A'. All the 3 sources I have claimed the same thing that Credit Utilisation Ratio is NOT considered in calculating your FICO score through your Charge Card account.

Now since TransUnion is the parent company of CIBIL and HDFC cards' reporting is quite similar to Charge Cards' reporting, I am pretty confident that Credit Card Utilisation Ratio is NOT considered in calculating your CIBIL score through your HDFC CC account. At least I have not seen anyone hurting his/her credit score solely because of an HDFC card.

Hope this clears all the doubts regarding this issue. Any corrections and suggestions are welcome.
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Charge card always works differently than a credit card. Not comparable. Their whole payment structure is different. Charge card doesn't report as they don't have a static value of CL, it changes upon your usage pattern. But for credit card, it's static, that's why the confusion
 
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Subhankar001 said:
Charge card always works differently than a credit card. Not comparable. Their whole payment structure is different. Charge card doesn't report as they don't have a static value of CL, it changes upon your usage pattern. But for credit card, it's static, that's why the confusion
Click to expand...
So we cannot calculate the credit utilization ratio of charge cards. Similar case is with HDFC Bank. So if a rating agency cannot calculate CUL of a charge card, how can it calculate the CUL of HDFC Bank card? I have also seen some images of credit reports on the internet and observed that even Charge cards are registered as credit cards in them. So basically, CIBIL has no parameter to differentiate between a charge card and an HDFC credit card. So I think that it does not calculate CUL of even HDFC CCs. Maybe HDFC registers its cards(in the credit report) as having dynamic Limits despite actually having a static limit.
 
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mukundstud said:
So we cannot calculate the credit utilization ratio of charge cards. Similar case is with HDFC Bank. So if a rating agency cannot calculate CUL of a charge card, how can it calculate the CUL of HDFC Bank card? I have also seen some images of credit reports on the internet and observed that even Charge cards are registered as credit cards in them. So basically, CIBIL has no parameter to differentiate between a charge card and an HDFC credit card. So I think that it does not calculate CUL of even HDFC CCs. Maybe HDFC registers its cards(in the credit report) as having dynamic Limits despite actually having a static limit.
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This is very unexpected from HDFC being the largest private bank of India, as this is not the true reflection.
 
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Subhankar001 said:
Charge card always works differently than a credit card. Not comparable. Their whole payment structure is different. Charge card doesn't report as they don't have a static value of CL, it changes upon your usage pattern. But for credit card, it's static, that's why the confusion
Click to expand...
I just realised I have a corporate AMEX CC and it doesn't report credit limit as you rightly pointed out. Screenshot attached for your reference.
 

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@TechnoFino and other experts,

Can you please tell me, if we use any amount from our card and pay back the entire used amount even before statement gets generated or prior to bank reporting the data to the credit bureaus, will it be reported as 0% utilisation?

This is a general question and not anything specific to HDFC.
 
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prc1990 said:
@TechnoFino and other experts,

Can you please tell me, if we use any amount from our card and pay back the entire used amount even before statement gets generated or prior to bank reporting the data to the credit bureaus, will it be reported as 0% utilisation?

This is a general question and not anything specific to HDFC.
Click to expand...
Ofcourse 0% utilization. But I would suggest to keep 1% atleast or bank maynot report to cibil. Depends
 
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prc1990 said:
@TechnoFino and other experts,

Can you please tell me, if we use any amount from our card and pay back the entire used amount even before statement gets generated or prior to bank reporting the data to the credit bureaus, will it be reported as 0% utilisation?

This is a general question and not anything specific to HDFC.
Click to expand...
First of all don't pay the entire amount. At least keep 1-2% to be billed as it'll help you make the CIBIL stronger as it'd count as number of repayments.

Secondly, it depends on the card when you're paying. Few issuer report to bank at the end of the month, few do during billing date, refer to This Thread posted by TechnoFino himself. So pay bills accordingly.
 
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After disputing, dispute details are showing up as "Never Applied with this Bank". Is this going to work as the details are kind of misleading.
 

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