Missed Kotak CC payment - Will it be reported?

[sjmajumder]

It was careless of me to miss a payment for the first time in my life.

I took a new Kotak League Platinum Rupay CC. Used it for just Rs. 100 for activation purpose. Payment was due on 12th April and I made the payment on 12th itself but to my Kotak White Card (on which there were no dues).

I realized this today morning when I opened Net Banking and saw payment overdue. Called customer care and she suggested rather than transferring the amount from White Card to League Rupay, I should make a payment for the League Rupay card as it is already overdue by 5 days. Asked her about late payment charges and she assured me if there are any charges I should give them a call back and they will reverse it. But she was not so sure about reporting to CIBIL. She said since it is only once it should not create a problem.

What do you think? Will it be reported to CIBIL? If yes how much impact on CIBIL and can it be deleted by requesting bank?

 

[sjmajumder]

According to RBI regulations, charges are only levied if a member has a due of more than Rs 100, and there's a default report to the Credit Bureaus. So, no need to worry.

Kotak schedule of charges says

Nil for statement o/s less than ₹ 100.

₹ 100 for statement o/s between ₹ 100 to ₹ 500

₹ 500 for statement o/s between ₹ 501 to ₹ 1,000

₹ 500 for statement o/s between ₹ 1,001 to ₹ 5000

₹ 600 for statement o/s between ₹ 5,001 to ₹ 10,000

₹ 800 for statement o/s between ₹ 10,001 to ₹ 25,000

₹ 1,000 for statement o/s between ₹ 25,001 to ₹ 50,000

₹ 1200 for statement o/s greater than ₹ 50,000

 

[#aniket]

According to RBI regulations, charges are only levied if a member has a due of more than Rs 100,

Yep, I am also aware about this.

and there's a default report to the Credit Bureaus. So, no need to worry.

Can you explain this lil more?

Thank you 😌