Failed idfc credit card payment

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Chennai Super Kings
Tanmayyy

On 9th of march , my idfc credit card bill was due. I paid my bill in multiples of 10k.

On the last 10k payment the payment via their app started failing. Tried 6-7 times for the whole day but couldn’t get the payment done through any method. 2 times even money was debited but not credited to card. Called up customer care , they said i don’t need to worry as if the payment is debited from the bank on 9th of march i won’t be charged interest or late payment charges.

I was still worried so i tried paying the remaining 10k through cred app , which worked but the status in cred app also said confirmation pending from idfc bank for 2 days after 9th of march.

On 11th of march the amount that was debited from paying through idfc app was refunded to my bank , after a few hours cred app payment was shown as processed and showed in idfc app as well.

Now I’m confused as to if I’ll be charged interest or late payment charges on this.

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Scorpion wrote:

2 days will not be an issue as it is within grace period.

Definitely late fees and penalty will not be charged.
Reporting to CIBIL may be done negatively.

Any way to avoid that negative cibil reporting?

Hunk Hunk
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Don’t worry! There are exceptions. If you get charged, you can contact customer support and get it reversed as your intention was to pay in full, which can be determined from your bank statement.

Deal Lieutenant Deal Lieutenant
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see the credit date in app not processed date. 

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bohemian wrote:

see the credit date in app not processed date. 

Credit date in idfc app shows as 11th of march

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Tanmayyy wrote:

Any way to avoid that negative cibil reporting?

We can’t do anything upfront, because we are not sure on this whether they will report or not.
We have to try and request them if any late payment reported after checking our scores regularly.

Deal Lieutenant Deal Lieutenant
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Tanmayyy wrote:

Credit date in idfc app shows as 11th of march

Its within Grace period. In case of such scenario, always use NEFT or imps, it gets credited in 1 hour. From other banks or use idfc bill pay

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bohemian wrote:

Its within Grace period. In case of such scenario, always use NEFT or imps, it gets credited in 1 hour. From other banks or use idfc bill pay

I was trying to pay through idfc app itself. Tried paying through , upi and netbanking both but to no avail.

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bohemian wrote:

Its within Grace period. In case of such scenario, always use NEFT or imps, it gets credited in 1 hour. From other banks or use idfc bill pay

What is the grace period?

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Scorpion wrote:

2 days will not be an issue as it is within grace period.

Definitely late fees and penalty will not be charged.
Reporting to CIBIL may be done negatively.

+1

Critic Critic
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If you tried payment via their own bank acc then even if payment fail they shouldn’t levy any charge. If it is via 3rd party then it depends on what is the grace period of idfc credit cards. Reporting to cibil is something that entirely depends on bank though because I think even if bank does not levy any late payment charge they still have to report the correct date of settlement/payment towards credit card dues.

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Tanmayyy wrote:

Credit date in idfc app shows as 11th of march

Once it happened that I paid my idfc card remaining due via idfc bank acc mobile app 10-15minutes before 12AM of the due date. Later the app showed payment date as day after due date but no late payment charge levied as I confirmed with customer care too but credit card statement for the next month also showed that txn date as next day of due date. However I have already paid the min amt due well in advance & I think late payment is only reported if min amt due is not received by the credit card before the end of due date day.

@bohemian @PowerStar @Scorpion @Smak

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guest_999 wrote:

Once it happened that I paid my idfc card remaining due via idfc bank acc mobile app 10-15minutes before 12AM of the due date. Later the app showed payment date as day after due date but no late payment charge levied as I confirmed with customer care too but credit card statement for the next month also showed that txn date as next day of due date. However I have already paid the min amt due well in advance & I think late payment is only reported if min amt due is not received by the credit card before the end of due date day.

@bohemian @PowerStar @Scorpion @Smak

I paid way over the minimum due amount of my card which was around 2.5k. 32k was posted to card before due date itself. Due you think they will report negatively to cibil?

Deal Lieutenant Deal Lieutenant
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i asked to check because payment through paytm, mobikwik . amazon…always reported as real transaction date…even if  credited after 3 days. @guest_999

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guest_999 wrote:

Once it happened that I paid my idfc card remaining due via idfc bank acc mobile app 10-15minutes before 12AM of the due date. Later the app showed payment date as day after due date but no late payment charge levied as I confirmed with customer care too but credit card statement for the next month also showed that txn date as next day of due date. However I have already paid the min amt due well in advance & I think late payment is only reported if min amt due is not received by the credit card before the end of due date day.

@bohemian @PowerStar @Scorpion @Smak

Yes Min Due Is The Main Thing For Bill Repayment! 

Hunk Hunk
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guest_999 wrote:

Once it happened that I paid my idfc card remaining due via idfc bank acc mobile app 10-15minutes before 12AM of the due date. Later the app showed payment date as day after due date but no late payment charge levied as I confirmed with customer care too but credit card statement for the next month also showed that txn date as next day of due date. However I have already paid the min amt due well in advance & I think late payment is only reported if min amt due is not received by the credit card before the end of due date day.

@bohemian @PowerStar @Scorpion @Smak

If I am not wrong  there is a grace period of 2 days. If your payment is within this time frame, banks cannot levy late payment charges.

Deal Lieutenant Deal Lieutenant
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guest_999 wrote:

Once it happened that I paid my idfc card remaining due via idfc bank acc mobile app 10-15minutes before 12AM of the due date. Later the app showed payment date as day after due date but no late payment charge levied as I confirmed with customer care too but credit card statement for the next month also showed that txn date as next day of due date. However I have already paid the min amt due well in advance & I think late payment is only reported if min amt due is not received by the credit card before the end of due date day.

@bohemian @PowerStar @Scorpion @Smak

Similar experience for me too. I paid a day after due date and i had to pay charges of late payment too but not reported negatively in cibil. Happened with HDFC and SBI too. Still saying 0 late payments in last 3 years, even total record says 0 late payments.

Addition: 1st point What i heard somewhere is they give some grace period before reporting negatively. The 2nd point is i paid the whole amount day after due date giving the impression that although I had capacity to repay i simply forgot, partial payment might reflect poorly. And it was once in a lifetime event, couldn’t focus on the financials because of contracting Covid. 

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axen89 wrote:

Off topic.. y did u paid via idfc app itself.. any specific trick or benefit wen u pay via idfc app??

Coz postpe and cred both give atleast some benefit..

It was the due date , didn’t want to take any risk of payment getting stuck in processing or something. Ironic stuck_out_tongue

Deal Cadet Deal Cadet
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Tanmayyy wrote:

It was the due date , didn’t want to take any risk of payment getting stuck in processing or something. Ironic stuck_out_tongue

I asked because u paid in multiples of 10k specifically.. that to via idfc app.. so i thought u r using any debit card or something to avail some benefit…. smile

To my knowledge cred is processing
the payment for idfc within mins most of the time … At the max 2 hr…

Deal Cadet Deal Cadet
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Tanmayyy wrote:

It was the due date , didn’t want to take any risk of payment getting stuck in processing or something. Ironic stuck_out_tongue

I too have idfc card… Lemme know if any offers available for payment and rotation

Hunk Hunk
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Tanmayyy wrote:

Any way to avoid that negative cibil reporting?

just goto idfc app n clear all the due. 

Since you had paid via cred on 9th you ll not be charged any penalty



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