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.

 

[kochiro]

Here's a simple trick. I spent entire 1 lac on my limit before 30th/31st. Make sure not to go even a rupee more than that else you will have to pay overlimit charge. Cancelled those orders and volla, highest limit in cibil while not having any financial burden.

 

[Karthik:]

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

You mean to say High credit is not the basis for calculating credit utilisation ratio but only the credit limit and HDFC does report credit limit but the same does not reflect in credit report like other bank's CC limit is reflected ? @Subhankar please clarify.

 

[CMGCMG is verified member.]

How will other banks verify the credit limit of hdfc credit card submitted for C2C application?

 

[TheTrickySid]

How will other banks verify the credit limit of hdfc credit card submitted for C2C application?

We need to submit card statement along with C2C application, credit limit is mentioned on the statement.

 

[CMGCMG is verified member.]

We need to submit card statement along with C2C application, credit limit is mentioned on the statement.

That can be faked easily.

 

[avishj]

That can be faked easily.

That's a fair point. Maybe, they can ask for a digitally signed copy of the statement, but I doubt banks put this much effort into this. Most staff are too ignorant of digital capacities in terms of changing PDF files.

 

[Rahul Gupta]

That can be faked easily.

did you try this?

 

[CMGCMG is verified member.]

did you try this?

Nope. Not going to try.

 

[Niraj Goyal]

So this is true right? I meant HDFC doesn't report credit limits to the credit bureaus right?

Yes, hdfc doesn't report to credit limit to credit bureaus.

 

[Manoj Pant]

All HDFC cc users should make request & twitt RBI regarding this issue. False credit limit & utilisation is big scam from HDFC .

 

[Sudarshan61]

All HDFC cc users should make request & twitt RBI regarding this issue. False credit limit & utilisation is big scam from HDFC .

It's not mandatory to report.

 

[Anon1]

Here's a simple trick. I spent entire 1 lac on my limit before 30th/31st. Make sure not to go even a rupee more than that else you will have to pay overlimit charge. Cancelled those orders and volla, highest limit in cibil while not having any financial burden.

is it reflecting still same as 1lakh as high credit for every month?

 

[pradeepG]

Here's a simple trick. I spent entire 1 lac on my limit before 30th/31st. Make sure not to go even a rupee more than that else you will have to pay overlimit charge. Cancelled those orders and volla, highest limit in cibil while not having any financial burden.

what or where did you order which is cancellable? apart from that any more suggestions how 2L - 2.5L can be consumed via this trick.

 

[kochiro]

is it reflecting still same as 1lakh as high credit for every month?

Yes every month

 

[kochiro]

what or where did you order which is cancellable? apart from that any more suggestions how 2L - 2.5L can be consumed via this trick.

Flipkart or you can just simply reject delivery

 

[Anon1]

Yes every month

So now your credit utilisation will be calculated with your actual spends with 1lakh.

Ex: this month spends are 20k then Credit utilisation is 20%.

Am I right?

 

[pradeepG]

Flipkart or you can just simply reject delivery

is there any other trick also? do flipkart delivery agent ask for otp at the time of delivery to confirm.

 

[kochiro]

So now your credit utilisation will be calculated with your actual spends with 1lakh.

Ex: this month spends are 20k then Credit utilisation is 20%.

Am I right?

Yes exactly but it won't be same when I get LE

 

[kochiro]

is there any other trick also? do flipkart delivery agent ask for otp at the time of delivery to confirm.

You never cancelled a parcel before :/

 

[pradeepG]

You never cancelled a parcel before :/

cancelled, (dont use flipkart much) but some items needs OTP and some dont (usually high value packets need OTP). my concern is if it is delivered without OTP then may be delivery agent mark as delivered. OR someone(family member or guard etc) might collect ony behalf and i then have to pay that huge amount. although i can ask all in family but can guarantee of guard etc. so was calculating risk via analyzing procedure.