HDFC CIBIL/Bureau reporting queries

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Last Comment 2023-03-17

Agnivo007

2023-03-16

As I have noticed, HDFC updates CIBIL/other credit bureaus on the last day of the month for me (dunno for others)...

As you are aware, HDFC does not report total credit limit, but max used credit amount.

Let us take a hypothetical scenario:

For a user, earlier max used credit = 1L, avg spend last few months=20k, so credit utilization for card=20%

Now, for a particular month, he spends 2L...

Now the credit utilization and max credit used will both move to 2L as per latest month cibil reporting, so technically, utilization=100%

* So, if he has no other card, 100% utilization = massive fall in cibil score, right? *

Also, let's now take that he has a SBI card with 2L limit and 20% utilization...

* So Net CL utilization becomes (2+0.4)/(2+2)=2.4/4=1.2 that is 60%, this also should hurt cibil heavily, right? *

Or am I wrong and HDFC max used credit amount is used differently by cibil, etc.?

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https://www.desidime.com/discussions/hdfc-cibil-bureau-reporting-queries?page=1#post_9154779

woodfield753

2023-03-16

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this topic again?

Yes 30 - 40 points will be reduced

https://www.desidime.com/discussions/hdfc-cibil-bureau-reporting-queries?page=1#post_9154792

Agnivo007

2023-03-16

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Didn't come across before... where you did here?

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https://www.desidime.com/discussions/hdfc-cibil-bureau-reporting-queries?page=1#post_9154856

10ven

2023-03-16

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If there is no loan required in the near future, how about using the max limit of HDFC CC. Let the CIBIL fall. It will recover in three to twelve months, but as HDFC reports utilized limit as credit limit, from then on overall utilization ratio gets lower?

https://www.desidime.com/discussions/hdfc-cibil-bureau-reporting-queries?page=1#post_9154868

Agnivo007

2023-03-16

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Planning and executing that... but need some doubts cleared. Replied to your other thread post too on this.

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https://www.desidime.com/discussions/hdfc-cibil-bureau-reporting-queries?page=1#post_9154986

guest_999

2023-03-16

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CIBIL most likely use some specific method for HDFC cards else majority of HDFC cc users would have poor cibil score by now(majority ppl in India anyway use 1-2 cc only).