HDFC bank will report credit limit from May 2023

Hd images?

dark.demon wrote:

Hd images?

dark.demon wrote:

Hd images?

I am uploading a clear image, but after uploading it, it becomes blurry

sushrutji29544 wrote:

I am uploading a clear image, but after uploading it, it becomes blurry

use imgbb.com

sushrutji29544 wrote:

I am uploading a clear image, but after uploading it, it becomes blurry

dark.demon wrote:

use imgbb.com

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

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. 

Ramta_Jogi wrote:

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. 

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.

romilq wrote:

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.

Sanctioned limit is not issued limit. It shows up as a separate subtitle under Cibil /Experian. 

Total Limit: - (not reported) 

Sanctioned limit: (whatever highest amount you used ever) 

Wait for another couple of months. You'll realise.. They have themselves said this in the letter. See 4th sentence /paragraph in between the two yellow highlighted sentences. 

Ramta_Jogi wrote:

Sanctioned limit is not issued limit. It shows up as a separate subtitle under Cibil /Experian. 

Total Limit: - (not reported) 

Sanctioned limit: (whatever highest amount you used ever) 

Wait for another couple of months. You'll realise.. They have themselves said this in the letter. See 4th sentence /paragraph in between the two yellow highlighted sentences. 

From the email it is clear that HDFC first is talking about their current practice of reporting only the highest utilization limit and not the sanctioned limit(issued limit as per them). And then they mention that from May'23 they will report the sanctioned limit(issued limit as per them) to credit bureaus which will show up as total limit in CIBIL/Experian. If there was nothing to change and they were continuing their old practice then they would not mention any changes to be done from May'23. 

At least this is what I understood from this email. I might be incorrect. We will know I guess in 1-2 months.

romilq wrote:

From the email it is clear that HDFC first is talking about their current practice of reporting only the highest utilization limit and not the sanctioned limit(issued limit as per them). And then they mention that from May'23 they will report the sanctioned limit(issued limit as per them) to credit bureaus which will show up as total limit in CIBIL/Experian. If there was nothing to change and they were continuing their old practice then they would not mention any changes to be done from May'23. 

At least this is what I understood from this email. I might be incorrect. We will know I guess in 1-2 months.

Yeah let's hope they do. This is the biggest issue /headache with Hdfc. Really kills the credit score 

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

Ramta_Jogi wrote:

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

Thanks man for double verification!

sushrutji29544 wrote:

Thanks man for double verification!

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

Ramta_Jogi wrote:

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

fakeer.admi wrote:
[noob question]How will it impact me?

Probably , increase in your cibil score

fakeer.admi wrote:
[noob question]How will it impact me?

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

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

Ramta_Jogi wrote:

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

just checked via gpay cibil report, credit limit of HDFC shows as full limit

anyway to check detailed report like the ones provided for free by hdfc, yes bank etc. earlier?

@Fanil

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.

IamRage wrote:

just checked via gpay cibil report, credit limit of HDFC shows as full limit

anyway to check detailed report like the ones provided for free by hdfc, yes bank etc. earlier?

@Fanil

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.

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.

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

_ricky_ wrote:
I have icici credit card with limit 75k. Last month i had used 11.5k. but in the cibil report, it is showing credit limit used 100%. So shall i report to cibil or it is similar to hdfc. Calculating credit utilisation on the highest spent

romilq wrote:

From the email it is clear that HDFC first is talking about their current practice of reporting only the highest utilization limit and not the sanctioned limit(issued limit as per them). And then they mention that from May'23 they will report the sanctioned limit(issued limit as per them) to credit bureaus which will show up as total limit in CIBIL/Experian. If there was nothing to change and they were continuing their old practice then they would not mention any changes to be done from May'23. 

At least this is what I understood from this email. I might be incorrect. We will know I guess in 1-2 months.

+🔥 and 30 Karma 🛐✝️ given to u and OP sushrutji29544 for happy update 

Fanil wrote:
It's not the case in ICICI. But ICICI card does report a bit late. Is it possible that your last month utilisation was 100%? If not then do report it to cibil

Ramta_Jogi wrote:
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.

Agreed, and sadly this (income to total credit limit ratio) has always been a concern to banks when giving loan and even to few banks when issuing credit cards... They see it as a potential debt, even if you have an extremely clean and solid credit history...

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