October 19, 2012 11:54 am
If I accept annual fee waiver proposal from my credit card issuer (in my case SBI card) is credit rating/history going to affect negetively?
Dear Bhaskar, if you are fulfilling the general T&C for waiver & not demanding after default, the matter ‘ll not be reported to CIBIL. Only the defaults ae reported to CIBIL.
In my own case (SBI CC), each time, SBI slaps annual fee in my statement & later on after my intimation removes the same as I’m fulfilling the minimum annual consumption target for fee waiver. For past 2Y i.e. in 2011 & 2012, this has hapend & never this waiver has affected my CIBIl score.
Dear Mr. Muherjee,
Did the credit card issuer initially report you as a defaulter on the fees and then you negotiated a waiver of the same? Also depends on did the bank waive the fee or write it off and reported it accordingly ? How was the non payment of the fee initially reported by the bank to the bureaus ? Was the waiver a negotiated event by you ?
Unfortunately, the answer to your original question also depends on the answers to the above.
What is the basis for this question?
Loan settlement affects.Waiver also make them loose money.So the question.
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