Instant Credit Card info not found in CIBIL report !!!

POSTED BY Rajasekhar N ON August 25, 2013 2:02 pm COMMENTS (3)

Hi

                                     I have been using ‘Instant Credit Card’ for the past 5 months to improve my CIBIL score. Last week I Checked my CIBIL report and I don’t find any info with this Instant credit card number. I raised the same issue to the bank and they replied “We have initiated Service Request XXXX regarding updation of credit card XXXX details in Cibil. The request will be processed by September 5, 2013″.

                        Using this card only to increase my CIBIL score as I am not eligible for plain credit cards. Now what should I do?  In future if I go for cancellation of this card, will it effect on my CIBIL score?

Thanks in advance

Rajasekhar N

3 replies on this article “Instant Credit Card info not found in CIBIL report !!!”

  1. Credexpert says:

    Dear Rajasekhar,

    Ideally the secured credit card should have been reflecting on your credit report. Since the bank has now confirmed that the issue would be resolved by 5th Sept, we would suggest that you wait for the same.

    Secured credit cards are one of the best ways to increase your credit score. Credit score is calculated based on various factors like the no. of secured & unsecured accounts, outstanding balances, no. of enquiries etc. Hence we would not be able to comment if the cancellation of the said credit card would impact your credit score or not.

    Regards,
    Credexpert

  2. Dear Raja, you should had wait for at least 6 months for record updation regarding your credit history for this instant credit card.

    thanks

    Ashal

    1. Rajasekhar N says:

      Hi
      Regarding Istant Credit card:
      The same has been repeated in the month of March’14, and Sep’ 14. When I ask the bank to update my repayment info in CIBIL then only they are moving to update with in period of 15 days after raising an issue.
      And that too in bulk mode (all pending months updation at a time). But I don’t find any score improvement even they updates 3times for the last 1.5Years.
      Will you plz suggest me which bank instant card repayment info is updated in CIBIL without asking them..? So that I can move to it.

      In the past 2 years I closed 4 consumer loans (Bajaj EMI card) , and 1 personnel loan is continuing …now. No missing payments. But my score is 746 ..down frm 750. Dont know the reason.
      Will you plz suggest..!!!

      Thanq in advance.

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