RBI asks banks to report to credit bureaus every two weeks
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one con for those who like to repay before bill generation on credit cards to hack credit utilization is going to be nullified
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No idea of credit cards bro, never had one and probably never would in future
VU+ for the post to get this well known to all credit card users out there:)
very important news:)) no more hack using credit cards xDDD
Isme khush hone ki baat hai ya dukhi? Kya fark padega considering i use cc heavely
Not for every credit card user but few may have very significant changes
straight forward ,high spending , non manufactured spenders , non rotaters etc will have negligeable implications
Since some have pioneered LEGAL cash to acc via cc or would manufacture artificial low credit utilization or milk every last bit of juice on credit cards will have to think about this
basically for those who dont need credit need not worry
But those who need it badly are going to face burnt
The day is not far when RBI will ask all banks to show credit card expenses in AIS report whether it is Rs 1 or Rs 10 lakh😄
No worries, will now repay on the same day of spending
Me chilling here with more than 90% utilisation and 780 CIBIL score.
RBI is suspecting money is coming to F&O through all credit channels
oh nah money is coming from no more FDs in minds of youngsters xD
so banks are praying to get money lol
and RBI is trying to push blame on something lol
doesn't matter to me, target already achieved, time to cut some off...
Why no realtime reporting that too make data available publicly
Because of the reconciliation & other process it's still not possible
Yes it's a matter of time it should become realtime...making it public is still not contested policy
There is no requirement as such. Only reason could be for rewards but i feel its too much hassle for 10-20k per month benefit.
Random frauds keep happening, also i dont have much requirement for travel and food offers so most credit card benefits are useless for me.