• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

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

Apply For Lifetime Free IDFC First Credit Card
AsB

AsB

TF Legend
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.

PHOTO-2022-05-24-10-07-27.jpg


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 :-

PHOTO-2022-05-24-10-08-22.jpg


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.
 
Last edited:
Apply For LTF AU LIT Credit Card
Apply For LTF HDFC Swiggy Credit Card
Sort by date Sort by votes
AsishB said:
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.

View attachment 1295


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 :-

View attachment 1296


This is one of the reasons, why One Card lets 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.
Click to expand...
Can you please explain me why is my report show like this and why the hell is 1970 shown in year🙄 IMG_20220524_103412.jpg
@souvikdey2002 @anirbanm @AllSeeker @Batmanbaba @TechnoFino
 
Last edited:
Upvote 0 Downvote
Upvote 0 Downvote
007 said:
I believe that's Unix time. You can ignore it imo.

Unix Time: Unix time is a system for representing a point in time. It is the number of seconds that have elapsed since January 1st, 1970 00:00:00 UTC.
Click to expand...
But no other information is been shown, all the fields are blank😢
Also as in @AsishB case the year is been properly shown
 
Upvote 0 Downvote
Are you sure about the card not being closed.... As I am yet to find anyone whose fd card has been converted to unsecured one..... And yes it reports as normal credit card....


But kotak reports secured card limit... It reports as secured card... I had kotak 811 fd card.... Recently closed....
 
Upvote 0 Downvote
HyperBeast said:
Yes the Experian report shows correct one
Also when I see the cibil payment info in onescore it shows correctly. I don't know what's happening 😢😢View attachment 1300
Click to expand...
I
Batmanbaba said:
Are you sure about the card not being closed.... As I am yet to find anyone whose fd card has been converted to unsecured one..... And yes it reports as normal credit card....


But kotak reports secured card limit... It reports as secured card... I had kotak 811 fd card.... Recently closed....
Click to expand...
No. This is specific to OneCard. And they don't allow all card holders. But some cards have continued even when their fd is closed
 
Upvote 0 Downvote
AsishB said:
I

No. This is specific to OneCard. And they don't allow all card holders. But some cards have continued even when their fd is closed
Click to expand...
Was the limit equal to fd amount..... Was banking partner changed or same.... +?? FOr fd its sbm.... And unsecured ones are bob, federal and south Indian bank
 
Upvote 0 Downvote
Batmanbaba said:
Was the limit equal to fd amount..... Was banking partner changed or same.... +?? FOr fd its sbm.... And unsecured ones are bob, federal and south Indian bank
Click to expand...
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.
 
Upvote 0 Downvote
alanabraham said:
Do you know someone whose secured converted to Unsecured even after closing fd? I didn't find any such information yet. Keen to know more on this.
Click to expand...
Yes, some people in YouTube have got such messages . They are showing it live. Also, the same thing is mentioned in the One Card website, that after good usage of the card, they may return your FD and let you continue using the card
 
Upvote 0 Downvote
AsishB said:
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.

View attachment 1295


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 :-

View attachment 1296


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.
Click to expand...
How you checking your report that too via sbi 🙄
It is this home loan trick 🧐
 
  • Like
Reactions: AsB
Upvote 0 Downvote
You must log in or register to reply here.
Back
Top