What are benefits for doing all transactions with bank ? Will it increase our credit report ?

POSTED BY SUNIL MAHESHKUMAR VYAS ON August 12, 2013 3:03 pm COMMENTS (2)

Hi,

I am doing all my transaction through SBI saving than will this habit help me directly or indirectly in future.In nutshell I have visited my bank hardly 2 or 5 time since 2007.I have hardly used 5 to 10 cheques since 2007.

List of Transactions :-

 

  1. Mobile bill paymnet
  2. Mobile Reacharge
  3. Recurring deposit
  4. Public Provident Fund
  5. Mutual Fund ECS
  6. LIC ECS
  7. Electricity bill payment
  8. Landline bill payment
  9. Donation
  10. Fund Transfer
  11. Shopping
Will all these things help me in home loan or credit card ?

 

2 replies on this article “What are benefits for doing all transactions with bank ? Will it increase our credit report ?”

  1. Credexpert says:
    August 16, 2013 at 7:41 pm

    Dear Mr. Vyas

    Your credit report only contains data about credit facilities availed by you. If you have a credit card or a loan, such details will be reported by the respective lending institutions to the credit bureau. The details of the transactions mentioned by you will not appear on your credit report. As of now, as per the Credit Information Companies Regulation Act (CICRA), data on utility and telephone bill payments are not shared with the credit bureaus.

    Regards,
    Credexpert
    http://www.credexpert.in

    Reply
  2. Ashal Jauhari says:
    August 12, 2013 at 3:27 pm

    Dear Sunil, some of the transactions mentioned by you are becoming part of your CIBIl report. Like Mobile Payment, Electricity payment, Landline payment.

    Thanks

    Ashal

    Reply

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