CIBIL - CC Current Balance

[Aman]

Hello Everyone!
My CIBIL Score was 769 when I last checked. After 10-12 days, yesterday I checked & refreshed my report & my score fell to 760. The only notable difference I could see was - earlier my credit utilization was 0% & now its at 2%. On further checking, my CC report shows Current Balance of 3557. I always pay the full amount of CC, in fact I pay Re. 1 more than the due amount just to be on the safer side.
I would like to add that Amount Overdue shows 0 only. I don't know how to interpret this. Can anyone guide or explain? Is there some error in reporting on Bank's end? The current balance amount shown (3557) does not match with any previous month's due amount either. There has been no new enquiries or anything which could affect the score. Only change I noticed was this. Can you explain what Current Balance mean? I hope this doesn't negatively hurt my CIBIL score anymore. There is NO amount due payable to the bank, all paid.

 

[Chaitanya_V]

Current balance is due amount on reporting date ,it will not impact the score. Which bank CC it is ?

 

[deep@vie]

Hello Everyone!
My CIBIL Score was 769 when I last checked. After 10-12 days, yesterday I checked & refreshed my report & my score fell to 760. The only notable difference I could see was - earlier my credit utilization was 0% & now its at 2%. On further checking, my CC report shows Current Balance of 3557. I always pay the full amount of CC, in fact I pay Re. 1 more than the due amount just to be on the safer side.
I would like to add that Amount Overdue shows 0 only. I don't know how to interpret this. Can anyone guide or explain? Is there some error in reporting on Bank's end? The current balance amount shown (3557) does not match with any previous month's due amount either. There has been no new enquiries or anything which could affect the score. Only change I noticed was this. Can you explain what Current Balance mean? I hope this doesn't negatively hurt my CIBIL score anymore. There is NO amount due payable to the bank, all paid.

nothing to worry about

 

[deep@vie]

Hello Everyone!
My CIBIL Score was 769 when I last checked. After 10-12 days, yesterday I checked & refreshed my report & my score fell to 760. The only notable difference I could see was - earlier my credit utilization was 0% & now its at 2%. On further checking, my CC report shows Current Balance of 3557. I always pay the full amount of CC, in fact I pay Re. 1 more than the due amount just to be on the safer side.
I would like to add that Amount Overdue shows 0 only. I don't know how to interpret this. Can anyone guide or explain? Is there some error in reporting on Bank's end? The current balance amount shown (3557) does not match with any previous month's due amount either. There has been no new enquiries or anything which could affect the score. Only change I noticed was this. Can you explain what Current Balance mean? I hope this doesn't negatively hurt my CIBIL score anymore. There is NO amount due payable to the bank, all paid.

on payment default report the credit score goes down by 60-70 points not 9 points

 

[Wealth is my birth right!]

Hello Everyone!
My CIBIL Score was 769 when I last checked. After 10-12 days, yesterday I checked & refreshed my report & my score fell to 760. The only notable difference I could see was - earlier my credit utilization was 0% & now its at 2%. On further checking, my CC report shows Current Balance of 3557. I always pay the full amount of CC, in fact I pay Re. 1 more than the due amount just to be on the safer side.
I would like to add that Amount Overdue shows 0 only. I don't know how to interpret this. Can anyone guide or explain? Is there some error in reporting on Bank's end? The current balance amount shown (3557) does not match with any previous month's due amount either. There has been no new enquiries or anything which could affect the score. Only change I noticed was this. Can you explain what Current Balance mean? I hope this doesn't negatively hurt my CIBIL score anymore. There is NO amount due payable to the bank, all paid.

10 to 15 points vary across months no issues as long as we are not missing any payment dues

 

[pxg]

CIBIL is very random. Anything above 750 should be good for most things though.

 

[Aman]

Current balance is due amount on reporting date ,it will not impact the score. Which bank CC it is ?

Axis Bank

 

[Aman]

on payment default report the credit score goes down by 60-70 points not 9 points

Yeah I agree. But since it dropped for no apparent reason, I was skeptical.

10 to 15 points vary across months no issues as long as we are not missing any payment dues

Yes. No payments missing or outstanding at all. Thanks anyways!

 

[SSV]

Axis Bank

I was also wondering how AXIS was calculating this current balance. As @Chaitanya_V has rightly mentioned, Current balance is as on reporting date, not as on statement cycle end date.
So in this case , Axis is taking month end as reporting date.
Statement date could be different to every individual.
Here is an example of my case for the month ending 30/04/2023.
Axis statement was generated on 10/05/2023. balance as on this date 0
Axis reporting date ie month end 30/04/2023 balance as on this date is 122

Axis statement screen shots like below:





How it was reported to Credit agencies like below( in this case it is CRIF, BTW CRIF has alreadybeen updated, CIBIL is yet to get updated for this month).




So even though I have paid in full by the statemnet generation date(10/05/2023), the current balance reported by AXIS to the agencies was as on 31/04/2023 which was 122.

So in case of AXIS, if you want your current balance to be reported as <= 0, then you need to pay before the end of that calendar month.

CIBIL is giving actually some weightage to the Current Balance (CB) amount( for each credit line, NOT at the aggregate level) for some weeird reason.
There is a difference between CB having <=0 and CB having >0 .
The difference I observed in CIBIL is about 10 points.

CRIF didn't care about 1% of utilization...

 

[Aman]

I was also wondering how AXIS was calculating this current balance. As @Chaitanya_V has rightly mentioned, Current balance is as on reporting date, not as on statement cycle end date.
So in this case , Axis is taking month end as reporting date.
Statement date could be different to every individual.
Here is an example of my case for the month ending 30/04/2023.
Axis statement was generated on 10/05/2023. balance as on this date 0
Axis reporting date ie month end 30/04/2023 balance as on this date is 122

Axis statement screen shots like below:





How it was reported to Credit agencies like below( in this case it is CRIF, BTW CRIF has alreadybeen updated, CIBIL is yet to get updated for this month).




So even though I have paid in full by the statemnet generation date(10/05/2023), the current balance reported by AXIS to the agencies was as on 31/04/2023 which was 122.

So in case of AXIS, if you want your current balance to be reported as <= 0, then you need to pay before the end of that calendar month.

CIBIL is giving actually some weightage to the Current Balance (CB) amount( for each credit line, NOT at the aggregate level) for some weeird reason.
There is a difference between CB having <=0 and CB having >0 .
The difference I observed in CIBIL is about 10 points.

CRIF didn't care about 1% of utilization...

Thanks man! This is exactly what it was reflecting in my CIBIL report.