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y ur cibil dropped ? no connection between nonreporting and cibil dropPlacing my request for SBI Prime credit card account closure. Used it for 4 years.
I am extremely disappointed with the SBI Prime Credit Card for not reporting my payments to Cibil, which has resulted in my credit score declining. Despite making timely payments on my credit card, my credit score has decreased significantly, and I was shocked to find out that this was because SBI Prime Credit Card was not reporting my payments to Cibil.
In terms of credit reporting, it's generally expected that credit card issuers report credit card payments to credit bureaus, including Cibil in India. However, it's possible that there could be errors or delays in reporting, but Team SBI is not doing anything to repair the errors despite of many requests in last 3 months.
The customer service of SBI Prime Credit Card has been unresponsive and unhelpful in resolving this issue. Despite repeated attempts to contact them, I have not received any satisfactory response. This has not only caused me financial stress but also mental stress, as my credit score is crucial for my financial wellbeing and future credit applications.
Apart from this issue, I have also experienced other problems with SBI Prime Credit Card, including poor rewards programs and no upgrades. The annual fee of the card is high, and the rewards program is not as lucrative as advertised. I have been using this credit card for a last 4 years now, but the lack of transparency and poor customer service has made me regret my decision.
Overall, I would not recommend the SBI Prime Credit Card to anyone, as it has caused me significant financial and mental stress. I believe there are better credit card options available in the market that offer better transparency and customer service.
I thinks there is a direct connection between nonreporting of credit card payments by the credit card issuer to credit bureaus like CIBIL and a drop in CIBIL score.y ur cibil dropped ? no connection between nonreporting and cibil drop
I had really pleasant experience using SBI Prime.Hi all... I recently received a sbi prime credit card. Can you guys help me with the tips and tricks of this card. Thanks in advance.
I think best is BPCL card Rs 499 feeSo which SBI Card do the community prefer apart from SBI prime in SBI Cards? Cashback card doesn't offer discounts on the promotions time.
nonreporting is differentI thinks there is a direct connection between nonreporting of credit card payments by the credit card issuer to credit bureaus like CIBIL and a drop in CIBIL score.
Credit bureaus like CIBIL collect data from various financial institutions including credit card issuers, banks, and other lending institutions. This data is used to calculate credit scores, which are numerical representations of an individual's creditworthiness. One of the key factors that affect credit scores is the payment history, including timely payment of credit card bills.
If a credit card issuer fails to report credit card payments to credit bureaus, the credit history and utilisation ratio of the individual will not be updated, and this may lead to the individual's credit score being negatively impacted. This could result in a drop in the CIBIL score, making it more difficult for the individual to obtain loans or credit in the future.
It's important to note that it's the responsibility of credit card issuers to report credit card payments to credit bureaus.
My credit history is of 10 years and zero late payments. Non-reporting payments will increase utilisation ratio, resulting in Cibil score drop. My Cibil drop from 797 to 777.nonreporting is different
my bob cc reported after 8months, my cibil is 776
cibil will drop due to latepayment or non payments of dues but not due to nonreporting
utilisation ratio u can manage by paying all dues before reporting dateMy credit history is of 10 years and zero late payments. Non-reporting payments will increase utilisation ratio, resulting in Cibil score drop. My Cibil drop from 797 to 777.
i already shared my view pointSbi not reported my payment of 49599 for last 6 months and 94000 for 3 months now.
Hi guys, i have a prime card for the past 2 years...was able to spend 3L for the last 2 years and get the annual fee waived off...but this year i have not spent that much and would like to downgrade to some other card .
I have no preference like reward points , fuel waiver etc...just need a basic card to keep the relationship and credit history going ..
Please suggest . Thanks .