Possibility of change in current CIBIL score because of overdue SBI credit card

[Digvijay]

The CIBIL score as on today is 745. The report shows there is an overdue amount for SBI credit card as reported by SBI on July 24, 2022. This overdue amount was cleared on July 25, 2022. The billing date for this SBI card is 1st of every month. When I raised dispute on CIBIL site to remove the overdue amount as it was already cleared, the CIBIL customer support asked to contact SBI. Then I contacted SBI card care regarding update in the CIBIL report for the overdue amount cleared. Still, SBI has not reported latest data to CIBIL after last report on July 24, 2022. Is this overdue amount shown in CIBIL report affecting the present score? When can I expect the SBI updating report? And how the current score might change after this overdue amount is removed from CIBIL report? How lenders see this amount while processing any application?

 

[dav33]

The CIBIL score as on today is 745. The report shows there is an overdue amount for SBI credit card as reported by SBI on July 24, 2022. This overdue amount was cleared on July 25, 2022. The billing date for this SBI card is 1st of every month. When I raised dispute on CIBIL site to remove the overdue amount as it was already cleared, the CIBIL customer support asked to contact SBI. Then I contacted SBI card care regarding update in the CIBIL report for the overdue amount cleared. Still, SBI has not reported latest data to CIBIL after last report on July 24, 2022. Is this overdue amount shown in CIBIL report affecting the present score? When can I expect the SBI updating report? And how the current score might change after this overdue amount is removed from CIBIL report? How lenders see this amount while processing any application?

Did SBI confirm that they will correct this overdue amount ?. Ask them to correct and report updated data to all 4 credit bureaus. Once done it should reflect within 30 days. U can keep on checking latest cibil report if u have subscription. Once corrected the score will be back to before with impact of this issue removed. dont proceed with any new lending until this gets cleared.

 

[Digvijay]

Did SBI confirm that they will correct this overdue amount ?. Ask them to correct and report updated data to all 4 credit bureaus. Once done it should reflect within 30 days. U can keep on checking latest cibil report if u have subscription. Once corrected the score will be back to before with impact of this issue removed. dont proceed with any new lending until this gets cleared.

Thank you. Yes, SBI confirmed that they will update the overdue amount after the next reporting cycle. So I expected it would be August 24. But when I checked today, there is no latest report by SBI to CIBIL. Also, is it necessary to contact all 4 credit bureaus? Because I see difference in reporting by other bureaus compared to CIBIL. CIBIL seems to keep up-to-date as and when banks reports to them while others have lagging behind by few months.

 

[dav33]

Thank you. Yes, SBI confirmed that they will update the overdue amount after the next reporting cycle. So I expected it would be August 24. But when I checked today, there is no latest report by SBI to CIBIL. Also, is it necessary to contact all 4 credit bureaus? Because I see difference in reporting by other bureaus compared to CIBIL. CIBIL seems to keep up-to-date as and when banks reports to them while others have lagging behind by few months.

no its not necessary to contact all 4 bureaus and raise dispute separately. once they update the data the updated data is sent to all the bureaus at the regular periods. but if sbi is working specifically on the dispute ticket that u submitted through cibil, only cibil will be corrected. hence ask them to update for the credit account itself and report to all bureaus.

 

[SunnyM]

Thank you. Yes, SBI confirmed that they will update the overdue amount after the next reporting cycle. So I expected it would be August 24. But when I checked today, there is no latest report by SBI to CIBIL. Also, is it necessary to contact all 4 credit bureaus? Because I see difference in reporting by other bureaus compared to CIBIL. CIBIL seems to keep up-to-date as and when banks reports to them while others have lagging behind by few months.

Did you pay your bill in the last 10 days of the due date ?

 

[Digvijay]

Did you pay your bill in the last 10 days of the due date ?

No, I paid on July 25. The next bill generation date was August 1 while the next billing date was 21 August.

 

[Digvijay]

no its not necessary to contact all 4 bureaus and raise dispute separately. once they update the data the updated data is sent to all the bureaus at the regular periods. but if sbi is working specifically on the dispute ticket that u submitted through cibil, only cibil will be corrected. hence ask them to update for the credit account itself and report to all bureaus.

Yeah, this might help. Will check with them again.

 

[SunnyM]

No, I paid on July 25. The next bill generation date was August 1 while the next billing date was 21 August.

What was the due date of the bill ?

 

[Digvijay]

What was the due date of the bill ?

21

 

[dav33]

overdue amount will be cleared but is there also any no of days late payment record on your cibil report. have u asked them to correct this

 

[Digvijay]

overdue amount will be cleared but is there also any no of days late payment record on your cibil report. have u asked them to correct this

Right, there are some DPD's for last three months. How it will reflect on lenders'? Will it remain as it is or will be removed after a specific time?

 

[dav33]

Right, there are some DPD's for last three months. How it will reflect on lenders'? Will it remain as it is or will be removed after a specific time?

dpd will not be cleared automatically and will remain. u will have to ask sbi. but they will not do so unless u have some good reason. provide them some genuine reasons like good past history, relationship, only 4 days late etc and ask them to consider.

 

[Digvijay]

dpd will not be cleared automatically and will remain. u will have to ask sbi. but they will not do so unless u have some good reason. provide them some genuine reasons like good past history, relationship, only 4 days late etc and ask them to consider.

Sure, will try to convince SBI. Thank you for info. It helped to understand the process.

 

[Digvijay]

The CIBIL score as on today is 745. The report shows there is an overdue amount for SBI credit card as reported by SBI on July 24, 2022. This overdue amount was cleared on July 25, 2022. The billing date for this SBI card is 1st of every month. When I raised dispute on CIBIL site to remove the overdue amount as it was already cleared, the CIBIL customer support asked to contact SBI. Then I contacted SBI card care regarding update in the CIBIL report for the overdue amount cleared. Still, SBI has not reported latest data to CIBIL after last report on July 24, 2022. Is this overdue amount shown in CIBIL report affecting the present score? When can I expect the SBI updating report? And how the current score might change after this overdue amount is removed from CIBIL report? How lenders see this amount while processing any application?

Finally, got the feedback both from SBI and CIBIL. As per SBI policy, unless and until total outstanding is cleared, they will not report to any credit company. Also, raising CIBIL dispute of any kind hardly changes anything. Any credit institution relies totally on bank to provide information about customer. So first bank has to change at their end and then after sharing it with credit institution, the final update in report is done.

 

[rjsudeep]

Finally, got the feedback both from SBI and CIBIL. As per SBI policy, unless and until total outstanding is cleared, they will not report to any credit company. Also, raising CIBIL dispute of any kind hardly changes anything. Any credit institution relies totally on bank to provide information about customer. So first bank has to change at their end and then after sharing it with credit institution, the final update in report is done.

I had to wait for 36 months to get a 1 day delayed payment removed off my CIBIL. SBI credit card team didn't help in any way, despite repeated requests of good credit history. Contacting CIBIL directly is futile like you mentioned.

 

[Digvijay]

I had to wait for 36 months to get a 1 day delayed payment removed off my CIBIL. SBI credit card team didn't help in any way, despite repeated requests of good credit history. Contacting CIBIL directly is futile like you mentioned.

Hey, that's unfortunate. But, SBI did update the report yesterday. They removed overdue amount. And I received latest CIBIL report with zero overdue for any account. I had to follow up for two weeks to nodal office, principal nodal office and customer service head. In the end, it worked.

 

[chaitanyamella]

Thank you. Yes, SBI confirmed that they will update the overdue amount after the next reporting cycle. So I expected it would be August 24. But when I checked today, there is no latest report by SBI to CIBIL. Also, is it necessary to contact all 4 credit bureaus? Because I see difference in reporting by other bureaus compared to CIBIL. CIBIL seems to keep up-to-date as and when banks reports to them while others have lagging behind by few months.

It's likely that the bank has already sent their report but CIBIL is yet to update at their end. This is normal. They don't update the report on a real time basis.

 

[Digvijay]

It's likely that the bank has already sent their report but CIBIL is yet to update at their end. This is normal. They don't update the report on a real time basis.

Depends. If bank submits their data regularly, credit company update it at that time only. It seems banks have different reporting cycle for different credit institutions. So the score is different at given point of time for different credit reports.

 

[chaitanyamella]

Depends. If bank submits their data regularly, credit company update it at that time only. It seems banks have different reporting cycle for different credit institutions. So the score is different at given point of time for different credit reports.

Credit bureaus don't update on a real time basis. You will notice the Aug 24th as reporting date from SBI but only in a few days from now.

 

[Digvijay]

Credit bureaus don't update on a real time basis. You will notice the Aug 24th as reporting date from SBI but only in a few days from now.

Oh yes, this is latest CIBIL report. SBI reported on Aug 24. So it is reflecting in CIBIL score.