One Card can be actually beneficial for Credit Score (need more confirmation)

[AsB]

I was going through my CIBIL report (free, by SBI Bank) and I found something interesting about OneCard. Despite having a CC against FD in OneCard, the card is reported as a General Credit Card to Credit Bureau, not as a Secured Credit Card. Here is the proof.

The below is my Credit Report section of One Card.




Two things to note here :-

• In the type, it is mentioned as Credit Card, not Secured Credit Card.
• In the Credit Limit, a value is mentioned. For Secured Credit Cards, Credit Limit is normally not reported to Credit Bureaus.

Example of Secured Credit Card :-




This is one of the reasons, why One Card may let you continue using the card, even after closing of FD, if you fulfill their internal criteria. They dont have to re-report it to Credit Bureaus, that your Secured Card has been converted to Unsecured Card.

 

[TheTrickySid]

I was going through my CIBIL report (free, by SBI Bank) and I found something interesting about OneCard. Despite having a CC against FD in OneCard, the card is reported as a General Credit Card to Credit Bureau, not as a Secured Credit Card. Here is the proof.

The below is my Credit Report section of One Card.




Two things to note here :-

• In the type, it is mentioned as Credit Card, not Secured Credit Card.
• In the Credit Limit, a value is mentioned. For Secured Credit Cards, Credit Limit is normally not reported to Credit Bureaus.

Example of Secured Credit Card :-




This is one of the reasons, why One Card lets you continue using the card, even after closing of FD, if you fulfill their internal criteria. They dont have to re-report it to Credit Bureaus, that your Secured Card has been converted to Unsecured Card.

Can you please explain me why is my report show like this and why the hell is 1970 shown in year🙄
@souvikdey2002 @anirbanm @AllSeeker @Batmanbaba @TechnoFino

 

[007]

Can you please explain me why is my report show like this and why the hell is 1970 shown in year🙄
@souvikdey2002 @anirbanm @AllSeeker @Batmanbaba @TechnoFino

I believe that's Unix time. You can ignore it imo.

Unix Time: Unix time is a system for representing a point in time. It is the number of seconds that have elapsed since January 1st, 1970 00:00:00 UTC.

 

[TheTrickySid]

I believe that's Unix time. You can ignore it imo.

Unix Time: Unix time is a system for representing a point in time. It is the number of seconds that have elapsed since January 1st, 1970 00:00:00 UTC.

But no other information is been shown, all the fields are blank😢
Also as in @AsishB case the year is been properly shown

 

[007]

But no other information is been shown, all the fields are blank😢
Also as in @AsishB case the year is been properly shown

Yeah that's strange. Do you know which CC is it probably? 👀

 

[TheTrickySid]

Yeah that's strange. Do you know which CC is it probably? 👀

HDFC

 

[007]

HDFC

When was that account opened? Recently?

 

[TheTrickySid]

When was that account opened? Recently?

January

 

[007]

January

Ohh.. Should have been updated by now. No idea then. Does other credit bureau reports show that correctly?

 

[TheTrickySid]

Ohh.. Should have been updated by now. No idea then. Does other credit bureau reports show that correctly?

Yes the Experian report shows correct one
Also when I see the cibil payment info in onescore it shows correctly. I don't know what's happening 😢😢

 

[AsB]

Wait, OneCard doesn't cancel/close card after the FD term expires?

They may not. Depends on their "internal criteria".

 

[Batmanbaba]

Are you sure about the card not being closed.... As I am yet to find anyone whose fd card has been converted to unsecured one..... And yes it reports as normal credit card....


But kotak reports secured card limit... It reports as secured card... I had kotak 811 fd card.... Recently closed....

 

[AsB]

Yes the Experian report shows correct one
Also when I see the cibil payment info in onescore it shows correctly. I don't know what's happening 😢😢

I

Are you sure about the card not being closed.... As I am yet to find anyone whose fd card has been converted to unsecured one..... And yes it reports as normal credit card....


But kotak reports secured card limit... It reports as secured card... I had kotak 811 fd card.... Recently closed....

No. This is specific to OneCard. And they don't allow all card holders. But some cards have continued even when their fd is closed

 

[AsB]

Yes the Experian report shows correct one
Also when I see the cibil payment info in onescore it shows correctly. I don't know what's happening 😢😢

I think you are CIBIL's first customer 😂

 

[Batmanbaba]

I

No. This is specific to OneCard. And they don't allow all card holders. But some cards have continued even when their fd is closed

Was the limit equal to fd amount..... Was banking partner changed or same.... +?? FOr fd its sbm.... And unsecured ones are bob, federal and south Indian bank

 

[AsB]

Was the limit equal to fd amount..... Was banking partner changed or same.... +?? FOr fd its sbm.... And unsecured ones are bob, federal and south Indian bank

Limit is 110% of FD. Banking partner is Sbm bank (same as issuing bank). But if you are given a different variant (example from plstic to metal or metal to plastic), the banking partner may change.

 

[alanabraham]

I

No. This is specific to OneCard. And they don't allow all card holders. But some cards have continued even when their fd is closed

Do you know someone whose secured converted to Unsecured even after closing fd? I didn't find any such information yet. Keen to know more on this.

 

[AsB]

Do you know someone whose secured converted to Unsecured even after closing fd? I didn't find any such information yet. Keen to know more on this.

Yes, some people in YouTube have got such messages . They are showing it live. Also, the same thing is mentioned in the One Card website, that after good usage of the card, they may return your FD and let you continue using the card

 

[Batmanbaba]

If there is anything concrete about this then I just might take a chance

I am also waiting for 6 months to complete.... Then might try........have used in good amount the card....

 

[ashwink]

I was going through my CIBIL report (free, by SBI Bank) and I found something interesting about OneCard. Despite having a CC against FD in OneCard, the card is reported as a General Credit Card to Credit Bureau, not as a Secured Credit Card. Here is the proof.

The below is my Credit Report section of One Card.




Two things to note here :-

• In the type, it is mentioned as Credit Card, not Secured Credit Card.
• In the Credit Limit, a value is mentioned. For Secured Credit Cards, Credit Limit is normally not reported to Credit Bureaus.

Example of Secured Credit Card :-




This is one of the reasons, why One Card may let you continue using the card, even after closing of FD, if you fulfill their internal criteria. They dont have to re-report it to Credit Bureaus, that your Secured Card has been converted to Unsecured Card.

How you checking your report that too via sbi 🙄
It is this home loan trick 🧐