+1
How long has it been since you have been approved? I started noticing mine after the third month.
I got it on July 10 but I also took idfc millennia after that and it's enquiry was updated on my cibil but the both credit card accounts have not been updated on my cibil. So maybe mine will be updated after 3 months as you said. Good to know that . Thanks
If you were pre-approved, then there won't be any CIBIL enquiry from the bank. It was the same case with me.
Yeah 👍
What type of transaction would you prefer for this??
Bank report only after statement gerenated.
That issue is(or going to be) fixed by the following RBI rule.
e) Any credit amount arising out of refund/failed/reversed transactions or similar transactions before the due date of payment for which payment has not been made by the cardholder, shall be immediately adjusted against the ‘payment due’ and notified to the cardholder.It's high credit that they report. It is not highest statement balance. High credit at a point in time includes both billed and unbilled together. So you can cancel even before bill generation. Should work. HDFC's system can be fooled. But, can't say for sure.
hdfc generally show either very low limit or no limit , even for me it showing around 3.60 limit where it 12.36 as was today , so don't worry use cc and have funI have an HDFC credit card. I find that credit limit of the same is not getting reflected in my CIBIL credit report whereas I can see High Credit and Current Balance. How will it reflect correct credit score when they can’t work out credit utilisation ratio ? I raised a query regarding this with their CC and I got a reply saying it is not mandatory to report credit limit and as a practice they don't report credit limit of any customer having no exception and that they report high credit instead.
Them, reporting high credit in place of credit limit won't solve the purpose. Credit utilisation ratio is always higher if it is based on high credit. Who would exhaust their entire credit limit for it to reflect correct credit utilisation ratio ? It's also not prudent credit behaviour. I don't understand why HDFC Bank can't report it when their peers like SBI and Axis Bank could do it. I also don't understand the meaning of their following statement:
This is generally true but not with HDFC Bank. Meaning increasing credit limit in HDFC CC won't improve Credit score but only maximising its utilisation does it. Which is contradictory to prudent credit practices. It is recommended to spend less than 30% of credit limit which in HDFC banks case is 30% of high credit. Aren't they contradictory ? I have given my suggestion to RBI to make it mandatory for banks and FIs to report the credit limit for each credit card issued to credit bureaus as it would provide better information. Leave your thoughts about this.
The refund will act as a payment for the statement generated. So , no issue at all !
