SCB Dial a loan above CL

[Indian]

Guys ! I got loan above credit limit offer from my scb card 9 months old, here I want to information about cibil reporting and if I take a loan , will it help me to get ultimate card? Kindly share your experience if any loan taken against scb card

 

[Indian]

Like loan amount, interest rate, open date etc. with new account in CIBIL


Nope. This is depends on existing card limit 4L above or other cards with 5L above or 2L above salary only.

You're taking loan here, that won't increase your TRV with bank nor improve your relationship with bank, nothing helps with Ultimate card perspective.

Thank you very much , so they reporting new loan account in cibil , may not impact , earlier I had sbi encash with bitter experience.

 

[Indian]

If you take loan from any bank or nbfc, it will report to CIBIL. Impact depends on payment pattern, age, loan etc.

What happened in SBI Encash?

My credit limit 89000 booked encash for 180000 , they reported as cibil credit limit 89000 and high credit with current balance as 180000 so utilisation went 300% on sbi card, over all credit utilisation also went high as result cibil score dropped 13 points

 

[Kenu73]

My credit limit 89000 booked encash for 180000 , they reported as cibil credit limit 89000 and high credit with current balance as 180000 so utilisation went 300% on sbi card, over all credit utilisation also went high as result cibil score dropped 13 points

It would be like that for all the loan above card and utilisation on your cibil is overall available limit to overall used limit. I have multiple cards and a lot of times end of using 80-90% on few and still over-all utilisation stays below 30% and CIBIL 480ISH

 

[Indian]

Like loan amount, interest rate, open date etc. with new account in CIBIL


Nope. This is depends on existing card limit 4L above or other cards with 5L above or 2L above salary only.

You're taking loan here, that won't increase your TRV with bank nor improve your relationship with bank, nothing helps with Ultimate card perspective.

Good morning! Are you sure that new Loan account will report in cibil? Because I spoke that CC executive when book the loan ,he said it will reflecting in current balance as loan amount of existing card account which is already showing in cibil, please confirm with your friends who having this DIAL A MULTIPLIER LOAN in scb

 

[Indian]

@Wealth is my birth right! Bro please shed some light on this thread

 

[Indian]

If they gave loan based credit limit - no new account.

If it is over and above credit limit - new account.

Rely on executive word here, if that person said no new account, most probably you're in 1st case and no new account.

BTw, whats the interest rate, tenure.

Thanks you very much 🙏 interest 0.99 PM and PF 1% Tenure 60 months

 

[V360]

Good morning! Are you sure that new Loan account will report in cibil? Because I spoke that CC executive when book the loan ,he said it will reflecting in current balance as loan amount of existing card account which is already showing in cibil, please confirm with your friends who having this DIAL A MULTIPLIER LOAN in scb

Please reverse document with the bank and take an acknowledgement. I did this with Yes Bank and they shared their acknowledgement too. With that you will have a written proof incase Banks go back on their words:

 

[V360]

If they gave loan based credit limit - no new account.

If it is over and above credit limit - new account.

Rely on executive word here, if that person said no new account, most probably you're in 1st case and no new account.

BTw, whats the interest rate, tenure.

Not correct - please see my note above.

 

[Indian]

Please reverse document with the bank and take an acknowledgement. I did this with Yes Bank and they shared their acknowledgement too. With that you will have a written proof incase Banks go back on their words:

Thanks ! I will write email to scb for acknowledgement! I got 15 days time to close the loan if they not reported as new account and reporting as existing card current balance

 

[V360]

Thanks ! I will write email to scb for acknowledgement! I got 15 days time to close the loan if they not reported as new account and reporting as existing card current balance

Yes and take an acknowledgement if possible

 

[V360]

which one not correct?

Relying on executive words or opening new account possibilities?

Executive words may or may not work, in this case you're correct but we can't do much since StanC taking time to update in CIBIL, we'll no way to verify or cancel without charges.

Relying on executive words without written acknowledgement. They are from sales team and will say anything to meet their targets.

 

[Indian]

which one not correct?

Relying on executive words or opening new account possibilities?

Executive words may or may not work, in this case you're correct but we can't do much since StanC taking time to update in CIBIL, we'll no way to verify or cancel without charges.

However if any of our friends already having this loan , can easily sort out, if any one our member ask about jumbo loan reporting, we can easily say that’s separate loan on card account no way connect with credit utilisation , any how we need to create new thread for loan on card for future card users, it might help them

 

[Wealth is my birth right!]

@Wealth is my birth right! Bro please shed some light on this thread

Yes I got pop up in my scb app
That loan is over and above the credit card limit

 

[Indian]

@helloworld your right bro! as my little English understanding they going to report another card or loan but new account , clever guys are SCB not described as detail.