HDFC not reporting credit limit to CIBIL

[CC_Fetish]

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.

 

[TechnoFinoTechnoFino is verified member.]

How did you file dispute?

from CIBIL website, you need CIBIL subscription for this. but CIBIL disputes are useless in maximum cases. they ask you to contact bank directly.

 

[AllSeeker]

from CIBIL website, you need CIBIL subscription for this. but CIBIL disputes are useless in maximum cases. they ask you to contact bank directly.

Okay, thank you for information!

 

[prc1990]

No! Even without having subscription, you can initiate a dispute from their official website however as Sumanta rightly pointed out, it is useless in most of the cases.

 

[redcube]

Credit report does not show my actual credit limit for HDFC Millenia credit card but instead shows max utilized amount, due to which the percentage of credit utilization is always high. How to get it updated ?

 

[007]

Credit report does not show my actual credit limit for HDFC Millenia credit card but instead shows max utilized amount, due to which the percentage of credit utilization is always high. How to get it updated ?

But individual card limit won't affect the overall credit utilization ratio that much (it will if you have only one card). You need to keep the overall credit utilization ratio in check (20-30%) afaik!

 

[prc1990]

Credit report does not show my actual credit limit for HDFC Millenia credit card but instead shows max utilized amount, due to which the percentage of credit utilization is always high. How to get it updated ?

It can be painful to your C-Score if and only if that is the only card you own. Otherwise, you don't need to worry as all your other cards would come in to rescue.

 

[TheTrickySid]

Credit report does not show my actual credit limit for HDFC Millenia credit card but instead shows max utilized amount, due to which the percentage of credit utilization is always high. How to get it updated ?

The HDFC reporting feels very confusing to me let me explain you my scenario,
I have HDFC MoneyBack plus cc with 50k limit, and the highest ever limit utilisation by me is 13k, when I checked my credit score on paisabazar it say that my credit limit is 13k(highest utilised) and my current month spending was around 6-7k so it was showing 50% credit utilisation 😑.

 

[007]

It can be painful to your C-Score if and only if that is the only card you own. Otherwise, you don't need to worry as all your other cards will come in to rescue.

Exactly!

 

[cherryj1988]

View attachment 1146
The HDFC reporting feels very confusing to me let me explain you my scenario,
I have HDFC MoneyBack plus cc with 50k limit, and the highest ever limit utilisation by me is 13k, when I checked my credit score on paisabazar it say that my credit limit is 13k(highest utilised) and my current month spending was around 6-7k so it was showing 50% credit utilisation 😑.

so if you spent ur actual credit limit of 50k , your utilization is ~380% ? LOL hdfc things.
But tbh im on the same boat. I spent more this month than my previous highest on my hdfc card. Let me see if it affects my scores in anyway.
Because by your logic I def spent more than 100% in the last couple weeks

 

[Extrovert🌃]

I've a similar query, in c-reports there's a row called "highest utilised" , alot of you suggest easy and able way to keep CUR below 30% is by paying before month-end/bill generation. But if the highest used is reported then what's the use of paying before hand when it will report it anyway ? I've Axis cards.

Anyone with axis cards got their highest usage recorded on c-reports? Or is it just a row which is always empty lol.

 

[Harry1]

I've a similar query, in c-reports there's a row called "highest utilised" , alot of you suggest easy and able way to keep CUR below 30% is by paying before month-end/bill generation. But if the highest used is reported then what's the use of paying before hand when it will report it anyway ? I've Axis cards.

Anyone with axis cards got their highest usage recorded on c-reports? Or is it just a row which is always empty lol.

I have it as per actuals for axis cards.

 

[Extrovert🌃]

I have it as per actuals for axis cards.

Can you please explain? As per actuals in the sense C-Beureus getting highest credit utilisation from axis and is being
mentioned in the reports?

If yes then, does Highest credit utilisation effect CUR? And in turn effects scores?

 

[Harry1]

Can you please explain? As per actuals in the sense C-Beureus getting highest credit utilisation from axis and is being
mentioned in the reports?

If yes then, does Highest credit utilisation effect CUR? And in turn effects scores?

Yes, No, Mostly No.

 

[jayks]

Only option is to utilize your entire limit before the end of the month, because HDFC reports the outstanding on the end of the month. Of course this will lower your CIBIL one time. Then afterwards you can use your card normally.

 

[prc1990]

This is a typical HDFC things which can't be amended as it is as per their internal policies and norms. This can only be changed only if RBI designs standard set of protocols on the credit reporting. Then again in reality most of the banks do not really care about all these RBI rules and hence, customer suffers the pain ultimately.

 

[swastik2233]

Credit report does not show my actual credit limit for HDFC Millenia credit card but instead shows max utilized amount, due to which the percentage of credit utilization is always high. How to get it updated ?

Use it to its full potential limit in a month so that highest limit used is almost equal to actual limit , then use it normal from next month

 

[TheTrickySid]

Use it to its full potential limit in a month so that highest limit used is almost equal to actual limit , then use it normal from next month

 

[Karthik:]

I have an HDFC credit card. I find that credit limit of the same is not getting reflected in my CIBIL credit report whereas I can see High Credit and Current Balance. How will it reflect correct credit score when they can’t work out credit utilisation ratio ? I raised a query regarding this with their CC and I got a reply saying it is not mandatory to report credit limit and as a practice they don't report credit limit of any customer having no exception and that they report high credit instead.
Them, reporting high credit in place of credit limit won't solve the purpose. Credit utilisation ratio is always higher if it is based on high credit. Who would exhaust their entire credit limit for it to reflect correct credit utilisation ratio ? It's also not prudent credit behaviour. I don't understand why HDFC Bank can't report it when their peers like SBI and Axis Bank could do it. I also don't understand the meaning of their following statement:



This is generally true but not with HDFC Bank. Meaning increasing credit limit in HDFC CC won't improve Credit score but only maximising its utilisation does it. Which is contradictory to prudent credit practices. It is recommended to spend less than 30% of credit limit which in HDFC banks case is 30% of high credit. Aren't they contradictory ? I have given my suggestion to RBI to make it mandatory for banks and FIs to report the credit limit for each credit card issued to credit bureaus as it would provide better information. Leave your thoughts about this.

 

[Dexter]

It is not showing for me as well!

 

[sagar7890]

+1