Impact on Cibil score by updating 7 years old credit card

[Anil35677]

when we upgrade oldest credit card, does it impact cibil score ?
Holding Citibank credit card since 7 years, since they migrated to Axis recently, as checked annual fee is very high 1000rs, if i upgrade to axis low annual fee card,
does it impact my cibil score and reduce my credit card age ?

 

[helloworld]

In Axis upgrades happens two types:

If its same reward type like reward -> reward, cashback -> cashback, miles -> miles then

- same card account in CIBIL used (so, no impact to 7 years history with new card contributing that account)

If its different reward type like reward -> cashback, reward -> miles then

- its not actually an upgrade, its just having another card (new account in CIBIL and both cards simulataneously contributing their own accounts), each has their own history.

So, if you downgrade/upgrade to low fee card on same existing card do check whethr downgrade/upgrade has same reward structure or not else you'll have two cards and have to pay two annual fees.

Moreover, whats the next best card with you in terms of credit age? If its closely 6+ years then you can safely close this card. No impact to CBIL or age.

Thread 'Impact of Holding Multiple Credit Cards from One Bank on Your CIBIL Report'

Sep 23, 2022

Bank​	Number of Accounts in CIBIL​
Standard Chartered	1 account for all cards
ICICI	4 accounts: 1 for Amazon, 1 for Gemstone Cards, 1 for Cobranded, 1 for Emeralde
AXIS	Each card has 1 account*
SBI	Each card has 1 account
AMEX	Each card has 1 account
BOB (Bank of Baroda)	Each card has 1 account
HDFC	Each card has 1 account
RBL	Each card has 1 account

...

• helloworld
• Replies: 54
• Forum: Credit Card - General

• 

 

[Hell_Kitty]

@SSV HDFC hasn't reported in CIBIL for July 24 month. Also New Yes Bank & Jupiter cards aren't showing in CIBIL yet. Been through 2 bill cycles for the new cards yet they don't show up in CIBIL even after 60 days.

 

[helloworld]

@SSV HDFC hasn't reported in CIBIL for July 24 month. Also New Yes Bank & Jupiter cards aren't showing in CIBIL yet. Been through 2 bill cycles for the new cards yet they don't show up in CIBIL even after 60 days.

sometimes it takes time. ICICI updates every 4 months also..

also, hopefully your statement generated all this time else they wont update if no transactions.

it taks time but it will update, it definitely wont update every month or sometimes 2 months.

hence the suggestion check CIBIL twice annually because its no use to check every month for these inconsistencies.

 

[Shin-Chan]

@SSV HDFC hasn't reported in CIBIL for July 24 month. Also New Yes Bank & Jupiter cards aren't showing in CIBIL yet. Been through 2 bill cycles for the new cards yet they don't show up in CIBIL even after 60 days.

There are two parties involved:
1. Banks/NBFC who sometimes report late one example is ICICI.
2. CIBIL will reflect mostly in a few days time but we can only refresh we have active subscription.

Hence it is always safer to take 45 days for the entries to reflect in CIBIL and it may go upto 90 days.


p.s.: Banks/NBFCs do report any late payment or missed payment faster than they report full payment or EMI replayment.

 

[Hell_Kitty]

Just refreshed again in Cibil Portal. This is One Score issue. Cibil portal is showing month end date where as Onescore showing it as statement generation date. These 3rd party tools aren’t 100% accurate.