IDFC Card Closure Updated in CIBIL After 11 Months

[Chhota Bheem]

My IDFC First Credit Card was closed in Jan 2023 but updated in CIBIL after Jan 2024.

So, I checked my credit report on CIBIL website. I observed that IDFC First Bank has marked this account as closed in Jan 2024 and sent me a communication through email that the card closure request has been updated in CIBIL records.

Please advice whether Bank has to pay a penalty if the card account is not closed and updated in CIBIL with in 45 days.?

 

[Sourabh_13]

Yes, you can file.

 

[Everybody]

I read on this forum that a Bank has to pay certain penalty if the card account is not closed and updated in CIBIL with in 45 days.

My IDFC First Credit Card was closed in Jan 2023 but updated in CIBIL after Jan 2024.

So, I checked my credit report on CIBIL website. I observed that IDFC First Bank has marked this account as closed in Jan 2024 and sent me a communication through email that the card closure request has been updated in CIBIL records.

Please advice is this a valid case to file complaint against the Bank with RBI Ombudsman?

First try raising dispute via cibil.com , if they say reach out to idfc bank then can ask them via twitter. If they deny to help then approach RBI. Its not correct to directly approach rbi directly. Cibil disputes works fine try once.

 

[BVCBVC is verified member.]

CIBIL disputes work well and you even get compensation sometimes. So try Disputing on CIBIL first and wait for sometime (say 15-20 days). Else you can approach RBI Ombudsman.

My CIBIL accounts has been resolved by CIBIL Dispute only (Axis, Unionbank)

 

[Chhota Bheem]

First try raising dispute via cibil.com , if they say reach out to idfc bank then can ask them via twitter. If they deny to help then approach RBI. Its not correct to directly approach rbi directly. Cibil disputes works fine try once.

CIBIL disputes work well and you even get compensation sometimes. So try Disputing on CIBIL first and wait for sometime (say 15-20 days). Else you can approach RBI Ombudsman.

My CIBIL accounts has been resolved by CIBIL Dispute only (Axis, Unionbank)

What is the impact of this delayed reporting on my credit score, is it significant?

 

[Everybody]

What is the impact of this delayed reporting on my credit score, is it significant?

As far as banks won't report late payments or other things nothing to worry.
And there's no impact on your credit score.