[Learning] Credit Score Dropped as Rs 2 due not paid!!

[mgforce]

Fellow Users,

Sharing as an learning.

I had Rs 2 as due amount for my IDFC First Credit Card which I didn't pay.

Two reasons: I forgot as amount was low. Also my thinking was that amounts in single digits are not even expected.

Fast forward today, I see 40 points drop in my score, and post detailed analysis could zero down it to IDFC First Bank citing payment delay by 25 days

Pls don't do the same mistake.

 

[purush]

This is shock and not right too

 

[Shubham Yadav]

40 points !!

 

[mgforce]

This is shock and not right too

Indeed, big shockk. I first thought it was funny business by IndusInd Bank where I asked for LE. But then zeroed down to this

 

[mgforce]

40 points !!

778 to 737

 

[Shubham Yadav]

Fellow Users,

Sharing as an learning.

I had Rs 2 as due amount for my IDFC First Credit Card which I didn't pay.

Two reasons: I forgot as amount was low. Also my thinking was that amounts in single digits are not even expected.

Fast forward today, I see 40 points drop in my score, and post detailed analysis could zero down it to IDFC First Bank citing payment delay by 25 days

Pls don't do the same mistake.

When u forgot to pay amount didn't idfc called you pay your payment?

 

[mgforce]

When u forgot to pay amount didn't idfc called you pay your payment?

Nope, just email stmt and SMS.

I have written an email to them, let's see

 

[mgforce]

Nope, just email stmt and SMS.

I have written an email to them, let's see

Update: I was able to get this Rs 2 payment delay knocked off from CIBIL -through BM

Kudos to IDFC team for their understanding and help

 

[panchabhut]

In some instances, when my bill amount was less than Rs.50, Amex clearly indicated that there is no need to pay and the amount would be rolled over to next stmt.
Same happened once with citibank also.

 

[mgforce]

In some instances, when my bill amount was less than Rs.50, Amex clearly indicated that there is no need to pay and the amount would be rolled over to next stmt.
Same happened once with citibank also.

I also had same understanding... but learnt the lesson!

 

[CC-Muncher]

I see in the gPays cibil report that Payment history mentions "2 missed payments" (which is wrong) and the overall status remark says "Good" even after 382/384 on-time payments.
The 2 missed payments are being wrongly reported by SBI as the auto deduction of th

 

[VijayflyRaven]

Even if it is 1 Paisa please pay it before due date. Some banks like RBL report even a single paisa delayed.

On the other hand, my wife forgot to pay 50 rupees to SC credit card and SC never reported it for over 3 years. Recently noticed it and statement clearly says minimum payment required as 0 even though there is a due for 50. I think we need to look at minimum due column but better to pay small dues.