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Credit 2025 RBI Guidelines - CIBIL Credit reporting will be done twice a month (Solution: so be proactive by prepaying in 14 days)

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Deal Lieutenant
DEEPANGEORGE

Hello Dimers

Paying before statement date won't bring down utilization ratio down from 2025

from Jan 2025

1) credit score will be updated in all the 4 credit agencies every 15 days
a) paying off loan will boost your credit score
b) Utilization affected differently now for credit utilization in credit card, (paying credit card before statement date to keep utilization high trick won't work anymore) as it will be done on mid-month 15 and end of month 30th or 31st


Solution:

pay before 15th of every month i.e 14th of every month make the payment

(as well as 29th of every month) - do payment twice


Refer:

RBI’s new credit reporting rules: What borrowers and lenders need to know

Dont forget to comment your opinion in the comment section below, lets have a constructive efficent discussion on how to make this beneficial for us as credit consumers:)


Voice your opinion:) as comments

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13 Comments  |  
7 Dimers
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Deal Lieutenant Deal Lieutenant
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Motto of credit card OVER USERS: Now use credit card like paylater 15 days credit limit lol

Benevolent Benevolent
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card utilizaliton rises to 100% 😂

Comrade Comrade
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O m g what to do now! sweat_smile

Comrade Comrade
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It leads to  planting new seeds in the mind of  credit card users.

Deal Lieutenant Deal Lieutenant
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oh new seeds as in?
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Crusader Crusader
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T: what the hell is this joy
Deal Lieutenant Deal Lieutenant
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hehehe the credit rotating users are gonna get affected for sure:)
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Deal Cadet Deal Cadet
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jinka overall limit kam hoga unko effect karega. baaki jinka limit sahi hai uske liye kuch nahi 😔

Deal Lieutenant Deal Lieutenant
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Limit Used In A Month Still Exist. Card Limit 58k , Last Month Used 44540rs , 27379rs Paid On 29th Oct , Outstanding 17161rs, Cibil Reported On 31st Oct

But Utilisation Ratio Reported Based On Current Balance
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Deal Lieutenant Deal Lieutenant
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Ya High credit is always there:) its not considered in utlization ratio so nothing much to worry about (for CIBIL calculations not sure about other 3 credit agences though)


but for utilization ratio calculation current balance is the one that is taken in the summation:) 

replyuser
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