Axis bank asking for CIBIL Masking amount to clear an old card defaulted from being reported. Upd lost 36 cibil points

[wapenshaw]

Hi Everyone,

3-4 years ago I had an Axis edge card which was defaulted. (I went to the US and gave the card to my sis, she didn't know anything about payments and kept spending and stupid me never thought of checking on it after I went there) but anyway the Card defaulted, they started making recovery calls and what not. After a month or so of these calls my sister tells me about this and I immediately settled the payment amount.

But now the Card shows up on my CIBIL account like this, even though the card was closed (or at least I thought it was closed after I settled the amount). Now after 3 years when I checked my CIBIL score the Card is still being reported as active to this day.



Every month There is a report to CIBIL of zero Payment. I have written to the nodal officer at Axis bank about this and this was their reply.

Dear Mr. XXXX,

Thank you for writing to Axis Bank.

This is with reference to your e-mail dated XX-12-2023 in relation to your credit card is showing write off.

We have checked with our team and they confIrmed that you needs to pay CIBIL masking amount of Rs.2441.4835/- on or before 30-12-2023 to get the CIBIL updated as Norm.

Further, once you pays the CIBIL masking amount, you will need to write back to us for post which CIBIL updation to NORM can be done turn around time 15 working days.

We thank you for banking with us and look forward to your continued patronage.

We assure you the best of our services.

Note:- Interactions are tracked via the Service Request number. We request you not to change the subject line in future correspondence.

Now I don't clearly understand the amount they specified or what this CIBIL Masking amount really is I checked a bit on google, different websites say different things. I have written back to them on clarification of the amount, is it two thousand four hundred something? and How to pay etc.

I want to get input from this community on how to proceed and please help me understand what all this is. My CIBIL currently low at 769 due to this and I want this off my record, or rather correctly reported as closed/settled in the report

Thanks

 

[OverdosingOnCopium]

Wow that is painful. Yes CIBIL Masking Amount is a real thing and since it’s only 2442 I say that pay it as soon as you can. Or else your CIBIL will be destroyed for years to come if they report as defaulter.

 

[wapenshaw]

Wow that is painful. Yes CIBIL Masking Amount is a real thing and since it’s only 2442 I say that pay it as soon as you can. Or else your CIBIL will be destroyed for years to come if they report as defaulter.

Yeah I am willing to pay it no issues if its just 2442 rs. But this has been like this for 3 years now. The last late payment will vanish from 36 month history next month. I just don't know how to pay this amount to them, I have written back how to pay lets wait and see.

I just want this card reported as closed and settled

 

[Quantum]

First and foremost, get that status removed from CIBIL report. Also check the reports of other CICs. You would need to get it removed from other CICs too.
Ask Axis bank for the medium to pay the amount.
You should also ask Axis bank to share the sub-components of Rs.2441.4835/-.
The amount may also consist of accumulated interest and penalties.

Pay the amount and get the CIBIL report cleared. Otherwise it would keep reflecting for 3-7 years.

 

[wapenshaw]

First and foremost, get that status removed from CIBIL report. Also check the reports of other CICs. You would need to get it removed from other CICs too.
Ask Axis bank for the medium to pay the amount.
You should also ask Axis bank to share the sub-components of Rs.2441.4835/-.
The amount may also consist of accumulated interest and penalties.

Pay the amount and get the CIBIL report cleared. Otherwise it would keep reflecting for 3-7 years.

thank you for letting me know about other CICs I just checked on Experian and it shows up like this. What other agencies are there and how do I tell Axis to fix this issue on all of them?

 

[Quantum]

thank you for letting me know about other CICs I just checked on Experian and it shows up like this. What other agencies are there and how do I tell Axis to fix this issue on all of them?

CIBIL
Experian
Equifax
CRIF

Please search this forum or Google for the steps. Either the lender reaches out to CIBIL and get your record updated or the lender shares the NOC with you and you reaching out to CICs with the NOC to get the record updated.

 

[Quantum]

Also, I assume that you are having this email communication with Axis with their Nodal officer desk.
If not, you need to add PNO in your email communications and address the email to them.
It is the officers and email IDs of Nodal officers level that the CICs communicate to.

Once they share the sub-components details of the amount and mode of payment, then after making the payment, share the payment receipt with nodal desk via email and request them to initiate the process of CIBIL Masking and also request Axis nodal desk to get it corrected in other CICs too.
You should demand fresh No Dues certificate and the NOC. NOC should not have the clause as "NOC does not guarantee CIBIL Masking".
Keep following up with the nodal desk on the confirmation status on CIBIL/CICs masking.

 

[wapenshaw]

Also, I assume that you are having this email communication with Axis with their Nodal officer desk.
If not, you need to add PNO in your email communications and address the email to them.
It is the officers and email IDs of Nodal officers level that the CICs communicate to.

Once they share the sub-components details of the amount and mode of payment, then after making the payment, share the payment receipt with nodal desk via email and request them to initiate the process of CIBIL Masking and also request Axis nodal desk to get it corrected in other CICs too.
You should demand fresh No Dues certificate and the NOC. NOC should not have the clause as "NOC does not guarantee CIBIL Masking".
Keep following up with the nodal desk on the confirmation status on CIBIL/CICs masking.

Yes its the nodal officer desk. I email pno@axisbank.com and the signature in the email says

Warm Regards,
Preeti Singh(Principal Nodal Office)
Team Axis Bank
Dil Se Open

 

[Quantum]

Yes its the nodal officer desk. I email pno@axisbank.com and the signature in the email says

You are communicating with the correct email ID.
First step done.

 

[wapenshaw]

You are communicating with the correct email ID.
First step done.

An update on this, PNO got back to me and gave me the UPI ID to which I can make the amount around 2450rs. I made the payments and mailed back to them.

You can make your credit card payments in any of the following ways:

1) UPI payment - Begin a UPI payment from any UPI app: Enter your Axis Bank Credit Card Bill payment UPI ID>> Verify name and enter bill amount Complete transaction using UPI PIN >>Your Axis Bank Credit Card Bill Payment UPI ID is: CC.91<Your 10 digit registered mobile number><last 4 digits of your Credit Card>@axisbank Example: CC.9199875042247269@axisbank

There are other payments like NEFT, SMS, Cash payment at banks, ATM and cheques. I guess UPI was the simplest.

 

[wapenshaw]

You are communicating with the correct email ID.
First step done.

New update on this, axis bank closed the card and reported to CIBIL, it's now showing closed in the cibil report. But get this

My fuckin CIBIL score dropped by 36 points from 769 to 733. I guess this card was my oldest which wasn't closed (2014).

How do I recover from this?

 

[Quantum]

My fuckin CIBIL score dropped by 36 points from 769 to 733. I guess this card was my oldest which wasn't closed (2014).

Score will recover in 2-3 months.
Make timely payments of your existing CCs/loans, and keep the credit utilization ratio within 30%.

 

[SSV]

As @Quantum said it will slowly start recovering…
It also depends upon your second oldest cards age..
How many active accounts do you have now? and some brief details about them

 

[wapenshaw]

As @Quantum said it will slowly start recovering…
It also depends upon your second oldest cards age..
How many active accounts do you have now? and some brief details about them

I have total 15 accounts 8 CCs active 7 accounts closed which include this axis card and a fully paid car loan, rest all are closed CCs. No loans active just 8 CCs

CIBIL says my age of credit is 20yrs (I had a cc from Canara bank in college which is closed) credit util is 4% right now.

My oldest active card right now is the amazon Icici card which I got in September 2021

 

[SSV]

I have total 15 accounts 8 CCs active 7 accounts closed which include this axis card and a fully paid car loan, rest all are closed CCs. No loans active just 8 CCs

CIBIL says my age of credit is 20yrs (I had a cc from Canara bank in college which is closed) credit util is 4% right now.

My oldest active card right now is the amazon Icici card which I got in September 2021

OK, your case is relatively simple as you only have CCs
Wait for a month and see what happens.
Don't get stressed about this..we will do something about this and get the score to a reasonable level within 6 to 12 months..
Meanwhile clear all your balances before bill generation for all cards..
I will advise you. Don't worry

 

[wapenshaw]

OK, your case is relatively simple as you only have CCs
Wait for a month and see what happens.
Don't get stressed about this..we will do something about this and get the score to a reasonable level within 6 to 12 months..
Meanwhile clear all your balances before bill generation for all cards..
I will advise you. Don't worry

Thank you! also when I check 36 months late payments report there is one "more than 90 days late" (it's this axis card) entry, which I guess will vanish next month or Feb I guess. After that everything should be clean in the last 36 months section

 

[sjmajumder]

New update on this, axis bank closed the card and reported to CIBIL, it's now showing closed in the cibil report. But get this

My CIBIL score dropped by 36 points from 769 to 733. I guess this card was my oldest which wasn't closed (2014).



How do I recover from this?

Curious to know, after 3 months, is your CIBIL back to 769?

 

[wapenshaw]

Curious to know, after 3 months, is your CIBIL back to 769?

ha! thanks for asking, just checked, its at 766

 

[silentkiller]

one of my friend received this mail should he have to pay this amount fr cibil update?

 

[praful47]

Can anyone explain for what purpose this cibil masking amount is asked for ?
What changes are going to be made in cibil ?

New to this term cibil masking