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HDFC bank will report credit limit from May 2023

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sushrutji29544

Huge update - HDFC bank will start reporting the Total Credit Limit instead of Utilized Limit to cibil from May 2023

Screenshot2023-06-03-09-14-11-077com.facebook.katana


Clear pic - https://ibb.co/k...V7





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61 Comments  |  
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Post Emperor Post Emperor
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Hd images?

Vanguard Vanguard
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Screenshot2023-06-03-09-14-11-077com.facebook.katana
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Finance Mentor Finance Mentor
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Wrong title.

Hdfc was always reporting sanctioned limit since the beginning. This is not total credit limit, which they never report. 

Sanctioned limit is your total amount used on card. 

Benevolent Benevolent
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No bro. Read the mail again. They are saying that they reported highest utilization amount till now and will report the sanctioned limit from May which is the issued limit.

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Finance Mentor Finance Mentor
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Just confirmed this with Infinia customer care. They confirmed the same. 

Vanguard Vanguard
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Thanks man for double verification! grinning

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Deal Newbie Deal Newbie
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[noob question]How will it impact me?
Post Emperor Post Emperor
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Probably , increase in your cibil score

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Critic Critic
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Finally started showing in my CIBIL report today !!!

@Ramta_Jogi I guess now we can expect some minor increase in cibil points over time, which was getting capped because of this.

Finance Mentor Finance Mentor
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You know what... After sbi restarting my payment history of closed card... Now idfc has done the same. I am so getting fed up of all this.

Hdfc showing limit would increase score (5-10 points) but it would keep many new issuers (Amex) and bank loans away as they'd be now able to see the income to debt  (or potential debt) ratio.

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Finance Mentor Finance Mentor
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Received cibil update. Score up by 19 points. 

Coupon Connoisseur Coupon Connoisseur
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1 point drop for me, from 801 to 800

No new cards, no enquiries after last update. Overall utilization was just 0.65%

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Finance Mentor Finance Mentor
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Got just 3 points boost in cibil, I am fine with it, as long as I am high in the spectrum.

Whats confusing for me is I have 3 HDFC cards with a shared limit. All reporting same Credit Limit to CIBIL now. So it means my total limit will become multiplied by 3, while calculating cc to limit usage ratio.

Community Angel Community Angel
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I don't think so. It will be calculated form each card individually I believe.
Comrade Comrade
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Can confirm they reported it in latest cibil report.. 😄

Deal Cadet Deal Cadet
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Yes, it got reported relieved

Helpful Helpful
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Is the credit limit showing up in OneScore?

Vanguard Vanguard
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Yes

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Deal Newbie Deal Newbie
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These  should have done this long back. Literally shouted at customer care to do this...

Generous Generous
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Surprisingly, No Change in CIBIL despite my card usage dropping from around 16% to less than 10% coz of HDFC limit.

Not relevant but Experian & Crif ratings have increased by 25 & 35 points respectively- all three have same rating of 774/775 (Experian was always less than 750 for me)

Finance Mentor Finance Mentor
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Hdfc credit limit showing in cibil now. 

Check today. 

Benevolent Benevolent
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Now the credit limit is getting reported correctly by HDFC.

And my CIBIL score is up by just 1 point.

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