HDFC Reporting to CIBIL Every WEEK!

[shrewdoc]

I have noticed for the last 20-25 days, HDFC has been reporting to CIBIL every week starting from:

23 Nov → 30 Nov → 7 Dec

Previously HDFC used to report ONCE on month-end ie. on 30/31 of every month.

This is even faster and earlier than the RBI new guidelines of biweekly reporting w.e.f. 1 Jan, 2025:

https://www.livemint.com/money/personal-finance/banks-to-report-credit-card-data-to-cics-biweekly-how-will-it-impact-you-and-banks-rbi-nbfcs-cibil-credit-score-11729670913868.html

My CIBIL is going all over the place ±10-12 points because of this as it deducts 10 points for any amount due in credit cards compared to Max Score when all dues are cleared.

So now, prepaying won't help much. It would be interesting to see if other banks follow suit, and it's implications on our credit score. I guess, CIBIL scoring mechanism would be needing a few tweaks now if this trend continues.

Is it the same for everyone? What are your thoughts on this?

 

[SSV]

How do you pre pay your credit bills. I am getting no bills due on all apps almost.

Except for 🪓 cards I found no issues for other cards that I use..
Can't remember which one I use it for which card..
Tell me your specific card you are after, I will let you know when I pay next time..

For 🪓 , I.pay from within their app. Thr bills are only for a few hundreds ie swiggy, Zomato offers and airtel payments only

 

[avis_]

Except for 🪓 cards I found no issues for other cards that I use..
Can't remember which one I use it for which card..
Tell me your specific card you are after, I will let you know when I pay next time..

For 🪓 , I.pay from within their app. Thr bills are only for a few hundreds ie swiggy, Zomato offers and airtel payments only

I want to prepay for Tata Neu HDFC

 

[tachniki]

Amazon pay allows to pay any amount for any visa/mc/rupay cards. But obviously no rewards.

 

[SSV]

I want to prepay for Tata Neu HDFC

Pay via payzapp via indusind DC..

Post in thread 'Life time free hdfc pixel play credit card' https://www.technofino.in/community...hdfc-pixel-play-credit-card.35063/post-885396

 

[Everybody]

Finally after 3 months of war with HDFC Imperia team, HDFC Infinia team and Grievance team finally Infinia reflecting in CIBIL account .

Same long email baazi 🥲

 

[Everybody]

Finally after 3 months of war with HDFC Imperia team, HDFC Infinia team and Grievance team finally Infinia reflecting in CIBIL account .

But again they messed in Experian they removed there 😏😒

 

[H4CK_H0PP3R]

As of now only HDFC has implemented weekly reporting. None others out of the following.
For me,
SBI - Same as it was (reporting date 26 Dec for billing date 3rd)
Axis - Same as it was (30th Nov - Month End, sometime they report on billing date also)
Onecard - Same (on billing date, sometime skip reporting)
ICICI - Same (on billing date, earlier they used to report once in two months but now every month)
AU - Same (last date of the month)

Thanks for sharing this, for SBI it is showing 10 Dec 2024 as (date reported & certified), my bill generation date is 18th every month. I don't have prior months data. Do you think they will report 30th or 31st of this month.

 

[helloworld]

This means someone's loan can be rejected on bill generation day (max utilisation) but approved possibly after a week when he has paid bill and HDFC reported to CIBIL. More reasons for folks to pay their credit card bills weekly.

loan mostly based on income and score.. they'll determine remaining parameters based on them.

 

[2025]

Thanks for sharing this, for SBI it is showing 10 Dec 2024 as (date reported & certified), my bill generation date is 18th every month. I don't have prior months data. Do you think they will report 30th or 31st of this month.

No. They will not report this month. From Jan things may change.

 

[tachniki]

loan mostly based on income and score.. they'll determine remaining parameters based on them.

I am unable to understand what you mean here.

If loan is approved based on credit score, and if score changes by like 20 points within a month, his/her loan may get approved on some days of month and may get disaproved on other days.

 

[H4CK_H0PP3R]

No. They will not report this month. From Jan things may change.

Much relief thanks as bill was in lakhs with 35% usage for sbi cc only & was waiting for 1st Jan to use DC again.

 

[helloworld]

I am unable to understand what you mean here.

If loan is approved based on credit score, and if score changes by like 20 points within a month, his/her loan may get approved on some days of month and may get disaproved on other days.

iirc, if one pay on time then credit score always >750 which is sufficient for unsecured loans.

>770 to get best rate for home loans. This you need to plan but unsecured loans not much.

Every bank has a range of credit score which obviously currently preferring above 750 (some banks even considering 700 but to be in a better position to negotiate interest rates they need to be >750).

+/- 20 points never below 750. Let me know if any observations that despite on-time payment (doesnt matter when but must be before due date), their credit score <750 due to this. I might be wrong! but when they apply moderately and pay-on time, >1Y should be above 750 despite these changes in credit score.

other factors affect on loan:
- interest rate
- loan amount

 

[2025]

I am unable to understand what you mean here.

If loan is approved based on credit score, and if score changes by like 20 points within a month, his/her loan may get approved on some days of month and may get disaproved on other days.

Usually that doesn't happen. They won't reject ur approved loan due to that. Many times I took 2-3 loans at a time from different banks.

 

[imrtbpsp]

I have noticed for the last 20-25 days, HDFC has been reporting to CIBIL every week starting from:

23 Nov → 30 Nov → 7 Dec

Previously HDFC used to report ONCE on month-end ie. on 30/31 of every month.

This is even faster and earlier than the RBI new guidelines of biweekly reporting w.e.f. 1 Jan, 2025:

https://www.livemint.com/money/personal-finance/banks-to-report-credit-card-data-to-cics-biweekly-how-will-it-impact-you-and-banks-rbi-nbfcs-cibil-credit-score-11729670913868.html

My CIBIL is going all over the place ±10-12 points because of this as it deducts 10 points for any amount due in credit cards compared to Max Score when all dues are cleared.

So now, prepaying won't help much. It would be interesting to see if other banks follow suit, and it's implications on our credit score. I guess, CIBIL scoring mechanism would be needing a few tweaks now if this trend continues.

Is it the same for everyone? What are your thoughts on this?

Yes earlier HDFC used to report once at the end of the month and accordingly I used to keep my outstanding low by making payment before the last day of the month. But I also noticed that HDFC is randomly updating the credit bureau. I heard that the government has made it mandatory to update the credit bureau twice a month. Due to this, my utilization has gone up to more than 60% in the last two months. I need a little more information on this whether it is every 15th day i.e. twice a month or every week.

 

[SSV]

Yes earlier HDFC used to report once at the end of the month and accordingly I used to keep my outstanding low by making payment before the last day of the month. But I also noticed that HDFC is randomly updating the credit bureau. I heard that the government has made it mandatory to update the credit bureau twice a month. Due to this, my utilization has gone up to more than 60% in the last two months. I need a little more information on this whether it is every 15th day i.e. twice a month or every week.

There were reports that many people’s balances were reported every week , including myself

More details

Thread 'New CIBIL reporting frequencies of Various Banks from Jan 2025'
https://www.technofino.in/community...uencies-of-various-banks-from-jan-2025.35804/

 

[imrtbpsp]

If it continues like this, then from now on 600+ will have to be considered a good score

If you don't mind, can you please explain what this means for us card holders?

1. Do I have to pay bill every week now?
2. If there there is payment pending will it be reported as overdue? - Suppose my bill generate on 1 and I pay on 20 there would have been two report sent to CIBIL between 1 and 20.

 

[imrtbpsp]

I have 23 active credit card accounts as of now. My active accounts consists of credit cards only...

11 closed credit card and Gold loan and loan on FD accounts.

Total 34 accounts both open + closed..

View attachment 77591

There were reports that many people’s balances were reported every week , including myself

More details

Thread 'New CIBIL reporting frequencies of Various Banks from Jan 2025'
https://www.technofino.in/community...uencies-of-various-banks-from-jan-2025.35804/

I have 23 active credit card accounts as of now. My active accounts consists of credit cards only...

11 closed credit card and Gold loan and loan on FD accounts.

Total 34 accounts both open + closed..

View attachment 77591

Now I understand why many people cannot get a credit card 😀

 

[venuharry]

credit score <750 due to this

I have never missed any payment since my credit age (3 yrs) still I have 737.☹️☹️
can anyone suggest me to increase my cibil, I need to take home loan post mid of this year

 

[SSV]

I have never missed any payment since my credit age (3 yrs) still I have 737.☹️☹️
can anyone suggest me to increase my cibil, I need to take home loan post mid of this year

DM me your details , Send me your complete CIBIL report with sensitive data masked..
I will look into it in my free time..

 

[Rohith-2009]

I have never missed any payment since my credit age (3 yrs) still I have 737.☹️☹️
can anyone suggest me to increase my cibil, I need to take home loan post mid of this year

You have only unsecured credit/loan accounts?