Is cc late payment reported to cibil if i close card before reporting?

[turingmachine]

YES.

Do not close the card, because if ICICI do report the late payment, they will report the past due as “006” for the month & then close the card. You will be stuck with this forever !

Best option : Keep the card open & here’s why :-

BEST CASE - ICICI do not report the past due & even if they do, you have option to escalate it up to the PNO to get it reversed as an exception, reasoning medical emergency etc.

WORST CASE - ICICI reports the past due, do not make an exception even after escalation and you will be stuck with it for 36 months at the max, instead for a life time.

Note : Way before 36 months a late payment / past due effect wears off, irrespective of a card / loan status being open or closed, provided you have other active credit accounts (Credit cards, loans, BNPL etc) where payments are ON TIME.. However, since it’s a credit card, you have the option to keep the card open to play with all the available options, which in case of loans you don’t have, if the EMIs remaining are less than 36 🙂

Okay got it. This will keep my options open. Thanks for the detailed explanation.

 

[ray8285]

Okay got it. This will keep my options open. Thanks for the detailed explanation.

If you found it useful, you can always like my posts as an appreciation. 🙂

 

[turingmachine]

If you found it useful, you can always like my posts as an appreciation. 🙂

Done. New to this forum.

 

[Aniket]

Was this before or after the RBI master directive where 3 days of grace is given after due date & if not paid within the grace period, then late payment is supposed to be reported by the banks ? I noticed IndusInd have even started writing this exact thing every month on their credit card statements !

Share the screenshot of Indus mentioning it...

 

[Aniket]

OP posted in Sept, 2023. So, this is much after that RBI circular which I think issued in covid time.

Way before than that bro ...2015 or so

 

[ray8285]

Share the screenshot of Indus mentioning it...

S U R E .. done it now ... Hope this clears out any doubts that you might have had 🙂

 

[ray8285]

Way before than that bro ...2015 or so

Things have changed since ! Amex charge cards are an exception ... 5 days grace instead of 3, however they do suspend your charging privileges post 3 days of grace !!