Query : What is CIBIL Rating (which type of transactions comes under this ?)

[Mr.india]

Hi,

I am an Software Engg. I wanted to know which type of transactions comes under CIBIL.
Means Is CIBIL collects only Credit cards and loans information or anything more ?

First of all thanks for this forum and credit.cardbhai.com for providing very useful info. (also sorry for my bad English)

5 years back when I joined in job, I was enthusiastic about credit cards. I applied for most of the card companies. I used to hold 5 to 6 cards with me. I was never a defaulter for any of my cards . Once I lost my wallet , then I blocked all the lost cards. Since then I stopped using many cards. Even though 3/4 banks sent me new cards , I never used them and simply trashed those cards with out closing them. I never rcvd any bank statements from them (as I stopped using , and also I moved from current place to 2/3 locations).

Finally I never worried about them, as I was not a defaulter at any time. I was using only 1 card from then (ICICI). Recently I applied for a new card from HDFC ( I am a classic banking customer) and I received the new card also.

I dont have any issues with credit cards/loans. But , I used to have a salary account in UTI aka AXIS bank. after I changed company, salary deposit stopped to that account. I maintained that account for 2/3 years. 1 or 1.5 years back, AXIS bank started giving new charges to customers like new debit card charges, sms alerts, online transaction device, minimum balance etc. So, I stopped using that account and with drawn the amount. But not closed account. I was getting account statements till date. But recently I found an amount of Rs.7500 as linen. I mailed bank twice asking them to close the account as I am not using it. They asked me to come to bank to close the account. I informed them that I am outside India, So I cant visit bank and asked them to close account. But They are not ready to close account without I visit the bank. I stopped mailing them and checking statements.

Also I have some billing disputes with my previous internet providers (like Airtel, VSNL).

I have a home loan, for which I am paying EMI with ECS. I was never a defaulter (1 or two times ECS failed due to lack of funds and then I paid them the EMIs thru check and also paid the charges). That loan is still on going with out any issues.

So, now my question is what are all the things that comes under CIBIL report. Only CREDI CARD defaulters & LOAN defaulters come sunder CIBIL or any thing more ?

Now I am planning to take another home loan. I dont want my credit limit affect by CIBIL report. So, I want to be clear before applying.

Yes I can apply for CIBIL report, but I dont have time to post them the desired documents. I can scan and mail but seems they want only hard copies.

Sorry for long post. kindly advise me .





 

[cardbhai]

Yes it is precisely Database of all the LOANS or Such Products where you Owe Payment.

Let me tell you an instance. For fulfilling KYC Norms in Mutual Funds, Last Year I had applied with HDFC Mutual Fund which routed the application to CDSL Ventures. They did a typing mistake and put my state as "Tamilnadu" instead of Karnataka. I didn't realize it for a while and later I got it changed. But by then CDSL Ventures Database had Synced with CIBIL and to my surprise, my CIBIL report showed it. However, after a year, I requested my CIBIL report again last month and the address now stands corrected.

Going by the Rules, only Banks share their data with Credit Bureaus about LOANS / Good or Bad standing. However, with different regulators brains working differently, you can expect Insurance, Phone / Utility Bills etc to get into this Database and down the line, UIDAI has already profiled information about 20 crore insurance holders from LIC which will make its way into Credit Bureaus.

[Mr.india]

Thanks credit bhai for your quick and detailed reply.

So, My AXIS bank linen  will reflect into CIBIL, hmm I will try to close it.

and coming to Internet bills , there is no fault from my end. I already mailed the issue to customer care several times, but they are too lazy in reply. And they are not ready to accept the mistake. So, I donno how to close those two issues.

But they are very small amounts like Rs.1000 & Rs.1500. So, even though if they share it with CIBIL does that really matter in my credit rating ?

And where can we find the info about who and who are sharing information with CIBIL or such rating companies?