[Resolved]  CIBIL — The monster in making

The credit information agencies were started in US long back and they have developed a lot. now there are three independent credit rating agencies and they have their own rating system called Fico score.

Here in Indian since CIBIL has no scoring system they only show if a credit has been closed, settled etc even a small amount of say rs 100 will show up as an overdue and you might loose your credit despite of the fact that you might be making the timely payment of thousands of rs on other cards, loans etc and may not be aware of that 100rs leftover which could be just an oversight or undisclosed charges by the credit card company etc etc.

What you should do to keep yourself safe.

Get a personal credit report from cibil - they charge 142 for that - but it should be free anyways get it, then look for accounts which you feel you have closed.

If you find any account where it states overdue and you have closed that account long back, call that bank at once if they don't respond to reverse the charges most will do- pay it and close the matter if the amount is smaller - i know its like blackmailing by the banks but do you any other option ?

Next close the cards which you don't use - do it today please to save yourself and your credit worthiness.

if rbi does not comes with the regulation of hidden charges by the credit card companies cibil is a monster in making which is all set to make life hell of innocent people mostly salaried people who pay most of the taxes and live within the means.
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Aug 13, 2020
Complaint marked as Resolved 
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Yes I accept ..I had a Credit card long back..i was not able to pay my dues during recession..My name got into CIBIL defaulters and now even after settling the amount spent on the credit card..I Still cant get any loan from banks..?..How long would it take to change the status of a members CIBIL record afer repayment of dues..?
CIBIL has dirty business model...harass people and milk them in the name of CIR report...

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