Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

CIBIL to include Mobile Payment in its Credit Score Report

1 min read

What is CIBIL?

CIBIL is Credit Information Bureau of India Limited, which acts like a central repository of credit information in India. As many as 500 different banks and financial institutions are CIBIL’s clients and they report each of their customers (like me and you) actions to them.

So if you take a credit card from HDFC Bank, then HDFC bank reports to CIBIL about it. If you enquire about car loan to ICICI Bank, even that enquiry is reported to CIBIL, if you can’t pay your EMI for home loan with SBI Bank for a particular month, that also gets reported to CIBIL.

CIBIL to include Mobile Payment in its Credit Score Report

Cibil issues a numerical score out of 900, which indicates a customer’s payments history of loans. This score is issued to banks that need to know financial history of a prospective borrower. Only the persons with good credit score can easily get Housing loan. And now if you default on your mobile bill and you may soon become ineligible for a home loan or a car loan. Non-payment of telephone bills will also rule out the possibilities of getting a new credit card or even another mobile number.

 
CIBIL is trying to link the telecom utility payment history to the banking and financial records of customers and make it available as a Cibil record to banks and other financial institutions. And CIBIL is now looking at adding telecom bill payments of post-paid customers, landline users and broadband subscribers as a weightage in that Cibil score.

Once the tie-ups with telcos are in place, Banks such as ICICI, HDFC, SBI and others may see an individual’s phone bill payment history to deny or approve a car, credit card or housing loan. The database can also be used by a telecom service provider when issuing a post-paid number to an individual. It will lower delinquencies and improve their quality of customers and helps the telcos in early identification of defaulter and fraudsters.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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6 Replies to “CIBIL to include Mobile Payment in its Credit Score…”

  1. Please remove my name from CIBIL. I have cleared my all outstanding including my mobile bill.

  2. Hi
    If there is any issue with your CIBIL report like clearance or updation or if the CIBIL score is less than 750 we will improve where there would not be any problem in future to apply, any Loans, & Credit cards or if you getting any harassment calls please do call me or leave a MSG Syed 8095355329

  3. I had no idea my credit was bad. The guys at Credit Sudhaar analysed my report. The process took some time but my credit was restored, enhanced and protected. I have no reason for complaints.

  4. My application was rejected. Credit Sudhaar was my choice. Initially they were slow. But their counsellors were able to handle all my queries. I will give Credit Sudhaar a positive review

  5. My application was rejected. Credit Sudhaar was my choice. Initially they were slow. But their counsellors were able to handle all my queries. I will give Credit Sudhaar a positive review.

  6. 1. We will purchase a detailed CIBIL report (CIR) on your behalf.

    2. We will be analyze your Credit History & Credit Score.

    3. A detailed plan will be drafted to resolve any discrepancies first i.e., (you might have paid all the dues to the financial institutions and information in CIBIL is wrongly updated. We will fix the errors on your credit report)

    4. Then we will check about the defaults / overdue amount to be paid by you to the financial institutions.

    5. We will first check with you (since when you have defaulted or not paid the amount to the financial institutions)

    6. Then we will check with the bank about the closure amount.

    7. After paying the closure amount to the creditors.

    8. We will get you the closure letter/ No due certificate letter from the bank.

    9. We take the complete responsibility of the documentation for closure.

    10. We also ensure the CIBIL update is done by the bank. And whichever information’s are not updated in the report we will get it updated in the report.

    11. For the score to improve there must be running loan or credit card so we will get you a pre paid card for the score improvement and monitor for the score

    12. After updating all the records in CIBIL, your CIBIL will be cleared & then loans should not get declined.

    CIBIL
    :-collects and maintains your personal information and records of your payments pertaining to loans and credit cards. This information is then used to create credit information report(CIR)and credit scores which are provided to lenders in order to help evaluate and approve/reject loan applications/credit cards
    Major factors affects for credit score

    1 Payment history.

    2 High utilization of credit limit.

    3 Higher percentage of credit cards or personal loans(also known as unsecured loan).

    4 Many new accounts opened recently.
    Different types of ownership seen in the cibil report
    1. Single 2.Joint 3.Authorized User 4.Guarantor
    Causes of negative or bad credit history
    Irregular payment history, Write-offs and Settlements, High Current Balances, High number of Enquiries.
    Collection Agents
    :-In a word, NO.Many Collection agents use aggressive tactics in an effort to frighten you into paying them directly. Some will claim that they will not work with a settlement company or third party. Others will try to scar
    e you into not working with settlement companies because they “will rob you of your money”. These are nothing more than scare
    -tactics because they know they will get more money out of you are forced to deal with them directly. If you are contacted, simply tell them that you are i enrolled with Debt Doctor for Debt Negotiation and settlement services, give them the telephone number of our help line(Which you will receive after enrolling),and then simply hang up. You are paying us to handle the dirty work, s
    o don’t take more
    burden on your shoulders than you have to!

    CIBIL CLERANCE
    :-We will get the cibil report. Our CIBIL Management service includes analysis of your CIBIL report, steps to resolve any discrepancies, including its rectification. Further we assist individuals to increase their credit score and overall credibility in terms of credit worthiness clearing.

    For Further Details Contact : Syed Arif : 9535385135

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