HDFC bank will report credit limit from May 2023

raknaz wrote:
this is only partially true. the credit ulitlization wont be calculated as 50% as u said. are u seeing report from one score by any chance?

For hdfc this is the case and reason for the drop. Many have reported as well and there was a change.org petition as well. For others it's not.

Received cibil update. Score up by 19 points. 

Ramta_Jogi wrote:

It's still not reflecting in the credit bureaus though as I checked just now. Maybe another few weeks. 

HDFC Bank has started reporting the total credit limit to CIBIL.

@romilq @sushrutji29544 @BlueFlash @Fanil

@pingpong


https://ibb.co/J...tf



     

shraaj wrote:
HDFC Bank has started reporting the total credit limit to CIBIL.

@romilq @sushrutji29544 @BlueFlash @Fanil

@pingpong


https://ibb.co/J...tf



     

Yep like they mentioned in the post's mail. They have started reporting it.

Ramta_Jogi wrote:

Received cibil update. Score up by 19 points. 

1 point drop for me, from 801 to 800

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

IamRage wrote:

1 point drop for me, from 801 to 800

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

1-5/6 points drop is a regular feature of Cibil algorithm. Nobody knows how /why of it. 

Ramta_Jogi wrote:

1-5/6 points drop is a regular feature of Cibil algorithm. Nobody knows how /why of it. 

Yup aware of that, but with hdfc full limit reporting expected it would go up.
Actual limit was almost 5x of highest utilization reported and 10% increase of overall credit limit

IamRage wrote:
and 10% increase of overall credit limit

That wouldn't have propelled your score to higher levels. 

As for me, I literally went from null to 27.5L. Part of it was due to recently acquired icici sapphiro and their reporting limit of 10 L. So 9 points went up due to icici and further 10 points due to hdfc. 

IamRage wrote:

1 point drop for me, from 801 to 800

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

800 is a milestone in cibil score so keeping score at this or above require a mix of various factors incl luck. If your cibil score only reached/crossed 800 recently then expect it to drop to around 795 slowly & then hover there for a long time.

guest_999 wrote:
800 is a milestone in cibil score so keeping score at this or above require a mix of various factors incl luck. If your cibil score only reached/crossed 800 recently then expect it to drop to around 795 slowly & then hover there for a long time.

was between 818-825 with the previous algorithm. had a good mix - home loan, gold loan (closed), CC (15+), credit history, timely payments, overall utilization ratio always < 7%.
with the new algorithm dropped to 780ish and went up to the range of 798-802 from last 6 months

IamRage wrote:
was between 818-825 with the previous algorithm. had a good mix - home loan, gold loan (closed), CC (15+), credit history, timely payments, overall utilization ratio always < 7%.
with the new algorithm dropped to 780ish and went up to the range of 798-802 from last 6 months

Home loan playing major role as expected. 15+ cc might have a bit negative influence in the long term though especially if their combined limits is high(close to or exceeding your home loan amt).

guest_999 wrote:
Home loan playing major role as expected. 15+ cc might have a bit negative influence in the long term though especially if their combined limits is high(close to or exceeding your home loan amt).

Hm, have some sort of use with all the cards and are from 12 different banks (not sure which one to close)
combined limit is already 3x the approved home loan amount and 7x of the remaining loan balance.
Will definitely plan to close few cards before home loan closure

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.

Seinfeld wrote:

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.

I don't think so. It will be calculated form each card individually I believe.

Fanil wrote:

Currently, hdfc reports only the highest utilisation. So let's say you spend 30k highest on your card. Now even though you might have 3-4L limit, the utilisation will be calculated on the highest spent on your card(I.e. 30k in this case). So let's assume you used 15k in the following month, even though it's less than 10% of your credit, your credit utilisation will be calculated as 50%(15k of 30k). This will make you look credit hungry and score will decrease. If they start giving the total limit,it will help increase your credit score

That is not correct. It has no impact on credit score. The maximum utilisation is separate from credit limit and CIBIL report does not assume them to be the same. Therefore it has absolutely no impact on your score.

Lobogris wrote:
That is not correct. It has no impact on credit score. The maximum utilisation is separate from credit limit and CIBIL report does not assume them to be the same. Therefore it has absolutely no impact on your score.

Well you would know if you had only hdfc card. My cousin had it and that's how it was calculated, leading to downfall in the cibil score. There are many YouTube videos as well mentioning this. Please find the below for your reference -

Can confirm they reported it in latest cibil report.. 😄

Yes, it got reported

BlueFlash wrote:

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.

Also, this may affect decrease in hdfc credit limit

Is the credit limit showing up in OneScore?

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

ontherocks wrote:

Is the credit limit showing up in OneScore?

Yes

Nighthawk69 wrote:
Also, this may affect decrease in hdfc credit limit

Lol why? There is correlation 

Ramta_Jogi wrote:

Lol why? There is correlation 

just felt. Why did hdfc give huge credit limits?

Nighthawk69 wrote:
just felt. Why did hdfc give huge credit limits?

icici gives good limit too

IamRage wrote:

icici gives good limit too

But not as insane as HDFC

sushrutji29544 wrote:

Yes

Mine not showing yet. 
Also in the photo of your email, did they give a limit increase of 20L over and above your existing limit. Their language is kind of incomprehensible.

ontherocks wrote:
Mine not showing yet. 
Also in the photo of your email, did they give a limit increase of 20L over and above your existing limit. Their language is kind of incomprehensible.

it is not 20L, it is 20000 it seems

first one is comma, second is a dot

IamRage wrote:

it is not 20L, it is 20000 it seems

first one is comma, second is a dot

I need to squint more.

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)