One Card can be actually beneficial for Credit Score (need more confirmation)

[AsB]

I was going through my CIBIL report (free, by SBI Bank) and I found something interesting about OneCard. Despite having a CC against FD in OneCard, the card is reported as a General Credit Card to Credit Bureau, not as a Secured Credit Card. Here is the proof.

The below is my Credit Report section of One Card.




Two things to note here :-

• In the type, it is mentioned as Credit Card, not Secured Credit Card.
• In the Credit Limit, a value is mentioned. For Secured Credit Cards, Credit Limit is normally not reported to Credit Bureaus.

Example of Secured Credit Card :-




This is one of the reasons, why One Card may let you continue using the card, even after closing of FD, if you fulfill their internal criteria. They dont have to re-report it to Credit Bureaus, that your Secured Card has been converted to Unsecured Card.

 

[AsB]

How you checking your report that too via sbi 🙄
It is this home loan trick 🧐

Just search SBI Credit Score, and one of the options will be this link

 

[ashwinkashwink is verified member.]

Just search SBI Credit Score, and one of the options will be this link

Yes it is the home loan link..

 

[Bob78900]

Limit is 110% of FD. Banking partner is Sbm bank (same as issuing bank). But if you are given a different variant (example from plstic to metal or metal to plastic), the banking partner may change.

If banking partner is changing so this may also affect Cibil score because earlier in your case it issued by sbm and if card issuer is changed to bob or idfc then bob will also be added in your cibil and both of the cards will show active🥲

 

[AsB]

If banking partner is changing so this may also affect Cibil score because earlier in your case it issued by sbm and if card issuer is changed to bob or idfc then bob will also be added in your cibil and both of the cards will show active🥲

Some people said that, there will be significantly less to no impact.

 

[Bob78900]

Some people said that, there will be significantly less to no impact.

It is not confirmed. Na🥲

 

[AsB]

It is not confirmed. Na🥲

One person had an FD of 20k, for which he got plastic card by SBM bank. Then he increased by 40k, for which he got Metal Card by IDFC bank. But, there was no change in cibil. Also, only one card was active in his report

 

[AsB]

One person had an FD of 20k, for which he got plastic card by SBM bank. Then he increased by 40k, for which he got Metal Card by IDFC bank. But, there was no change in cibil. Also, only one card was active in his report

 

[Bob78900]

One person had an FD of 20k, for which he got plastic card by SBM bank. Then he increased by 40k, for which he got Metal Card by IDFC bank. But, there was no change in cibil. Also, only one card was active in his report

One card take time to to report to cibil. Maybe 3-4 months.

 

[Bob78900]

Okay I'll watch this later

 

[Batmanbaba]

But its not sure that fd amount was back..... Did anybody here got their fd back... Or card still active after closing fd

 

[ashwinkashwink is verified member.]

But its not sure that fd amount was back..... Did anybody here got their fd back... Or card still active after closing fd

I don't think they will do active our account even after closing the collateral