Amazon ICICI Credit Card First Report Dropped My CIBIL Score

[itssuhan]

Hey guys,

This is my first time using a credit card and I’m a bit confused and hoping someone here can help me make sense of this.

I got my Apay ICICI credit card on April 4th with a credit limit of ₹1.2L. So far I have noticed that ICICI usually reports to the credit bureau every 1.5 months and it's usually very irregular, and in my case, it was first reported on May 15th. Everything seemed fine until I saw that my CIBIL score dropped from 755 to 737, even though I’ve been using the card responsibly and paid all dues on time.

Here’s what’s confusing:

• My bill generation date is the 2nd of every month.

• In the credit report, the “Sanctioned Amount” is shown as ₹5.9k. From what I understand, the “Sanctioned Amount” in a CIBIL report refers to the highest transaction done on the credit card so far.

• But in my case, ICICI seems to be using my April bill amount (₹5.9k) as the “Sanctioned Amount”, even though that was not my highest transaction.

In fact, my current balance amount is actually the highest transaction I’ve done on the card, so that should’ve been reported as the “Sanctioned Amount” instead.

• The “Last Payment Date” is also wrong and I paid my dues in full on May 3rd, when my bill was generated on 2nd of May but the report doesn’t reflect that accurately and it shows 21st April.

So,

• Is it normal for ICICI to report data like this with mismatches and delays?

• Is it common for your score to dip the first time a new credit card is reported?

• Should I be concerned and raise a dispute with ICICI or CIBIL, or is this just how it works?

If anyone has experienced something similar or can help explain how ICICI reports data, I’d really appreciate it.

 

[RaviAglRaviAgl is verified member.]

Data reporting to cibil may be a bit hazy for the first few months.

Don't worry. Pay your bills on time and just chill.

From what I can see, you have a credit limit of 120k which is correct.

What matters most is your payment history and that must be green in your cibil report.

Hope this clears it up.

Thank you for joining the community and you are very much welcome here.

Ravi.

 

[wuodland]

keep doing your part in time, these all will adjust in few months. nothing to worry

 

[Raghav2006Raghav2006 is verified member.]

Does the sanctioned limit matter?
For example, I've got Core ICICI and Apay, upgraded the core variant last year and limit too I don't know what happened before, but never used the card, and I've just kept it.
Now in my credit reports, apay shows limit 5.8 and core 5.2 ( received limit enhancement of 60 in both cards last year but it never updated for core on credit report)

 

[itssuhan]

Does the sanctioned limit matter?
For example, I've got Core ICICI and Apay, upgraded the core variant last year and limit too I don't know what happened before, but never used the card, and I've just kept it.
Now in my credit reports, apay shows limit 5.8 and core 5.2 ( received limit enhancement of 60 in both cards last year but it never updated for core on credit report)

I guess not I am really sure regarding the same. My main concern is that why did my score drop when they reported my credit card for the first time and everything's paid as usual.

 

[VSC]

I guess not I am really sure regarding the same. My main concern is that why did my score drop when they reported my credit card for the first time and everything's paid as usual.

Addition of new account decreases the score and recently there has been change in the cibil calculation process. So I don't think there is a need to worry. Just use it as usual with utilization ratio in check and pay on time. It goes up in a few months.

 

[Raghav2006Raghav2006 is verified member.]

I guess not I am really sure regarding the same. My main concern is that why did my score drop when they reported my credit card for the first time and everything's paid as usual.

Well, if you've been paying everything on time then you shouldn't worry.
It means your score must have not gone that low that you have to worry about it.
And it will go back up soon anyways.