SLICE - CIBIL Reporting

[chacks18]

Since this slice account is reported as Consumer Durable Loan, I recently got to know that now SLICE is only going to report 10% of the total credit limit as Sanctioned Amount with this CDL account. Also, I've checked it with all of the Credit Bureaus i.e. CIBIL, Experian, CRIF Highmark and Equifax, this is actually true. Only 10% of the Credit Limit is Reflecting there, also I noticed SLICE is not reporting any amount as utilized/ outstanding even if you have outstanding amount or any active EMI's on your slice account.

I recently had conversation with one of their executives from CIBIL issues related-Team over the call. She told me that they are aware of the fact that many of their users are facing issue of a negative impact on their Credit Score because of this CDL account. Further, on digging more she also unofficially informed me that as of now they are not reporting any utilized/outstanding amount to Credit Bureaus and this is what going to be the important factor for the credit score as it has high impact.
Though it is still going to be an active CDL account, but some sort of relief I guess?
Also, I appreciate how they are caring for their users creditworthiness n all.

@TechnoFino Smart move by Slice? what say?

 

[prc1990]

Since this slice account is reported as Consumer Durable Loan, I recently got to know that now SLICE is only going to report 10% of the total credit limit as Sanctioned Amount with this CDL account. Also, I've checked it with all of the Credit Bureaus i.e. CIBIL, Experian, CRIF Highmark and Equifax, this is actually true. Only 10% of the Credit Limit is Reflecting there, also I noticed SLICE is not reporting any amount as reporting any amount as utilized/ outstanding even if you have outstanding amount or any active EMI's on your slice account.

I recently had conversation with one of their executives from CIBIL issues related-Team over the call. She told me that they are aware of the fact that many of their users are facing issue of a negative impact on their Credit Score because of this CDL account. Further, on digging more she also unofficially informed me that as of now they are not reporting any utilized/outstanding amount to Credit Bureaus and this is what going to be the important factor for the credit score as it has high impact.
Though it is still going to be an active CDL account, but some sort of relief I guess?
Also, I appreciate how they are caring for their users creditworthiness n all.

@TechnoFino Smart move by Slice? what say?

Thank You for sharing this with this community.

I'm using Slice since September last year and it is yet to be reported in credit bureaus, not sure why!

However, because of the following two pointers as you shared, it seems to be less painful to our C-Score even if it gets reported:

1. Only 10% of the overall limit is reported
2. Non Reporting of credit utilization i.e. N/A

 

[TechnoFino]

Since this slice account is reported as Consumer Durable Loan, I recently got to know that now SLICE is only going to report 10% of the total credit limit as Sanctioned Amount with this CDL account. Also, I've checked it with all of the Credit Bureaus i.e. CIBIL, Experian, CRIF Highmark and Equifax, this is actually true. Only 10% of the Credit Limit is Reflecting there, also I noticed SLICE is not reporting any amount as reporting any amount as utilized/ outstanding even if you have outstanding amount or any active EMI's on your slice account.

I recently had conversation with one of their executives from CIBIL issues related-Team over the call. She told me that they are aware of the fact that many of their users are facing issue of a negative impact on their Credit Score because of this CDL account. Further, on digging more she also unofficially informed me that as of now they are not reporting any utilized/outstanding amount to Credit Bureaus and this is what going to be the important factor for the credit score as it has high impact.
Though it is still going to be an active CDL account, but some sort of relief I guess?
Also, I appreciate how they are caring for their users creditworthiness n all.

@TechnoFino Smart move by Slice? what say?

Yes... it's a good move.

 

[akshayhs]

Thank You for sharing this with this community.

I'm using Slice since September last year and it is yet to be reported in credit bureaus, not sure why!

However, because of the following two pointers as you shared, it seems to be less painful to our C-Score even if it gets reported:

1. Only 10% of the overall limit is reported
2. Non Reporting of credit utilization i.e. N/A

They are a bit late to report to credit bureaus. I just checked my Experian and cibil reports for this month. Only now I am able to see repayment status for months from December to March. But in the end, they do report.

I am frankly grateful for not reporting credit utilization because sometimes if I need emergency funds immediately but can settle it later in the month, I always use my Slice card. It has saved me time and again and that's one of the two reasons I am still retaining my card.