CREDIT REPORT

[SUNAINA]

Can anyone tell me when did Bank shares our Credit report to CIBIL is it at the bill date or last day of the month ?

 

[arjungoyal12]

Actually it is automatically shared. When you make payments then the CIBIL get to know about it. If you have missed a payment ten they will know. On the other hand, if you pay the amount before the bill is generated then it won't have any affect on CIBIL

 

[SUNAINA]

Actually it is automatically shared. When you make payments then the CIBIL get to know about it. If you have missed a payment ten they will know. On the other hand, if you pay the amount before the bill is generated then it won't have any affect on CIBIL

What about credit utilisation I'm using 100% of my credit card limit,before two days from my bill generation I am paying 80% of my total limit so my bill is generated only 20% of my total limit but my cibil shows 100% credit utilisation my bill generation date is 7th of every month.

 

[mayanksneh]

Using 100% credit card limit is dangerous for your CIBIL score, and the customer is a red flag for the banks too. Try to get it under 50% first to control your expenses.

 

[shashwat]

What about credit utilisation I'm using 100% of my credit card limit,before two days from my bill generation I am paying 80% of my total limit so my bill is generated only 20% of my total limit but my cibil shows 100% credit utilisation my bill generation date is 7th of every month.

A lot of times, banks give "max limit utilised" to CIBIL as well. Better to not use 100% ever. If you're regularly using a lot of your limit, asking your bank for a credit limit increase is very important!