RBL Bank now using CIBIL Score for APR!

[pprakash11]

 

[chenrichy]

Ha Ha Ha

 

[panchabhut]

all banks should follow.
but would it mean addl cibil hit every year? what happens when all banks start this?

 

[Harry1]

How will they know cibil? Hard enquiry every month?

 

[Chaitanya-a]

Even soft enquiry lets us know the score. So they may do soft enquiry.

 

[chenrichy]

Even soft enquiry lets us know the score. So they may do soft enquiry.

If its for Home Loan instead of Credit Card then most of us will happy around nation

 

[Rkr]

Still 3.30 not the best APR for score above 775...Have also reeceived the communication for the same.

 

[ltf4ever]

How will they know cibil? Hard enquiry every month?

hard enquiry is only when customer inititates the process for asking credit. they might if banks ask, it is a soft enquiry .

 

[Rkr]

How will they know cibil? Hard enquiry every month?

Once we apply ,its hard enquiry and if bank checks its soft enquiry..

 

[Strange]

Their product development team is doing these useless changes instead of providing a good card.

 

[technom]

I also received this email but didn't care much because I'm planning to close Fun+ Credit Card soon enough

 

[Bodhi]

Even soft enquiry lets us know the score. So they may do soft enquiry.

What all information can a bank fetch via soft enquiry?

Soft vs hard enquiry, in a nutshell please.

Thank you