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.

 

[SoggypastA]

What if bank itself make max limit transaction taking approval from customer and reverse the amount would this showed max utilisation and credit limit same 🤔

 

[alphadark7]

It is not showing for me as well!

+1

 

[Karthik:]

You can't do anything
It'll only be max. utilised till date which will be counted for CL

Yeah. Least I could do was to give my suggestion to RBI. Let's see what happens.

 

[Karthik:]

What if bank itself make max limit transaction taking approval from customer and reverse the amount would this showed max utilisation and credit limit same 🤔

It very difficult to get even the normal work done in HDFC. Do you think they'll do this for you ? Only thing that happens really fast and perfectly in HDFC is purchasing their useless products.

 

[SunnyM]

I have the same issue but with my one metal card. It's issued from Federal Bank and neither the enquiry is shown nor the credit card or its limit. I even took the cibil subscription to check . I have checked only cibil and maybe it is issued only on the basis of Experian score. As the one score app has both Experian and cibil scores so that's why I am thinking this.

 

[akshayhs]

I have the same issue but with my one metal card. It's issued from Federal Bank and neither the enquiry is shown nor the credit card or its limit. I even took the cibil subscription to check . I have checked only cibil and maybe it is issued only on the basis of Experian score. As the one score app has both Experian and cibil scores so that's why I am thinking this.

How long has it been since you have been approved? I started noticing mine after the third month.

 

[SunnyM]

How long has it been since you have been approved? I started noticing mine after the third month.

I got it on July 10 but I also took idfc millennia after that and it's enquiry was updated on my cibil but the both credit card accounts have not been updated on my cibil. So maybe mine will be updated after 3 months as you said. Good to know that . Thanks

 

[akshayhs]

I got it on July 10 but I also took idfc millennia after that and it's enquiry was updated on my cibil but the both credit card accounts have not been updated on my cibil. So maybe mine will be updated after 3 months as you said. Good to know that . Thanks

If you were pre-approved, then there won't be any CIBIL enquiry from the bank. It was the same case with me.

 

[ashwinkashwink is verified member.]

If you were pre-approved, then there won't be any CIBIL enquiry from the bank. It was the same case with me.

Yeah 👍

 

[Rahul92]

What if ... we we do a high value purchase just before bill generation and cancel it after bill generation ??

That can bump up the utilisation report in cibil for ever !

 

[TheTrickySid]

What if ... we we do a high value purchase just before bill generation and cancel it after bill generation ??

That can bump up the utilisation report in cibil for ever !

What type of transaction would you prefer for this??

 

[Deleted member 3355]

What if ... we we do a high value purchase just before bill generation and cancel it after bill generation ??

That can bump up the utilisation report in cibil for ever !

Bank report only after statement gerenated.
You have to cancel purchase after statement generated.

Icici expects you to pay full statement amount even if your purchase cancelled later (donot know about HDFC)

 

[CMGCMG is verified member.]

Bank report only after statement gerenated.
You have to cancel purchase after statement generated.

Icici expects you to pay full statement amount even if your purchase cancelled later (donot know about HDFC)

That issue is(or going to be) fixed by the following RBI rule.

e) Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.

 

[Karthik:]

Bank report only after statement gerenated.
You have to cancel purchase after statement generated.

Icici expects you to pay full statement amount even if your purchase cancelled later (donot know about HDFC)

It's high credit that they report. It is not highest statement balance. High credit at a point in time includes both billed and unbilled together. So you can cancel even before bill generation. Should work. HDFC's system can be fooled. But, can't say for sure.

 

[AsB]

Yep. Someone already mentioned (in a similar post, that I had made 3-4 months back), that banks are not required to inform anything about the credit limit provided to customer.
There is one advantage too- if banks reduce your credit limit, then it will not be known to other financial insurers through your report.
Disadvantage is- your utilisation ratio may sometimes be higher.

 

[vaibhav111vaibhav111 is verified member.]

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:


View attachment 3009
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.

hdfc generally show either very low limit or no limit , even for me it showing around 3.60 limit where it 12.36 as was today , so don't worry use cc and have fun

 

[Rahul92]

Bank report only after statement gerenated.
You have to cancel purchase after statement generated.

Icici expects you to pay full statement amount even if your purchase cancelled later (donot know about HDFC)

The refund will act as a payment for the statement generated. So , no issue at all !

 

[Rashya]

We know that HDFC doesn’t report the credit limit to CIBIL and they only report the high report high credit. Is it wise to spend the entire credit limit(for eg: credit limit is between 50k to 80k), so that when the next month statement is generated we can maintain credit utilisation ratio under 30% of the entire credit limit.

@TechnoFino @Subhankar @bhavyegoel

 

[SubhankarSubhankar is verified member.]

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

 

[Rashya]

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

Ok. Then how does CIBIL calculate the credit utilisation ratio in such case?