ONECARD ISSUE

81°
Deal Cadet
TempAcc

Got onecard last month, today first statement is generated.
Limit is 90k and spend was 45K, hence paid off 44K via CRED 2 days ago, and same reflected in app instantly.
Edit – It’s reflacted in app, but stating ‘awaiting for confirmation from merchant’ . transection time was 12 Nov, 10 PM.

But statement came out of 45K , WTF ? rage
Is it their condition or legal method?

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Deal Cadet Deal Cadet
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Ramta_Jogi wrote:

Up to 5 working DAYS required if payment is through CRED

Thanks man, so it’s my fault as for my lack of awareness. hope very first statement of 45k(limit-90k) will not affact the CIBIL much.

Deal Cadet Deal Cadet
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TempAcc wrote:

Thanks man, so it’s my fault as for my lack of awareness. hope very first statement of 45k(limit-90k) will not affact the CIBIL much.

the effect on the CiBIL depends on the day they report your outstanding and credit limit to the CIBIL. The statement generation date and the reporting date need not be same.

Post Emperor Post Emperor
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Can paying amount before bill is generated keep your card utilisation low?

Deal Cadet Deal Cadet
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@TempAcc you transacted on a Friday night. Obviously it would be settled only on Monday or later. So if statement gets generated before that, the repayment won’t be considered in that statement.

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