How to generate your CIBIL credit report

In an online chat with Get Ahead readers Harshala Chandorkar, Senior Vice President -- Consumer Relations, Communication & CIC Compliance Credit Information Bureau (India) Limited (CIBIL), answered credit card queries.

Here are the unedited excerpts:

suresh bambuldiya: How to reduce CC limits

Harshala C: Please write to the bank who has issued the credit card to you for reducing the limit on your credit card.

bhupendra vyas: WHAT IS THE CORRECT METHOD OF CLOSING CREDIT CARD ACCOUNT?

Harshala C: DO write to the bank that you want to close the credit card. The bank should send you a confirmation letter that the credit card account is closed.

DEBANJAN BHATTACHARJEE: Hi Harshala, I am using a credit card since 2007. How can get to know my credit score from CIBIL? Is the credit report available free of cost else what are the charges involved?

Harshala C: You can access your credit score and report on CIBIL’s website in 3 easy steps: Step 1: Fill online form- Visit http://rediff.ly/1gsxk and duly fill in the online request form. Step 2: Payment – Make payment of Rs. 470 via Net banking / Debit / Credit / Cash Card. Step 3: Authentication – Answer 2 questions based on your credit history

If you are successfully authenticated you can download your credit report consisting your credit score and also receive it via e-mail. If you fail the authentication then you can upload scanned copy of your identity proof and address proof on CIBIL’s website. The report will then get delivered to you via express delivery

sriramkrishnan: some stupid people have put some 20 entries or more without my knowledge nor applying of more than 2 lakhs five years back...recently when i applied for a car loan got a shock...and cibil is such a stupid organisation will never help the customers...one fictitious entry of ten lakhs was removed and a reason sir by mistake some other name was same...

Harshala C: CIBIL has a Dispute Resolution Process. If there are any discrepancies in your credit report, do write to us. We will coordinate with the banks to resolve any inaccuracies that you may have.

arif khan: how to settle down if Credit score is below 510.

Harshala C: You will have to start building a good credit history, which can be done by making sure that you make timely payments on all your loan and credit card dues - month on month. Once you have built a good credit history your score will improve, gradually.

ATINDRA-NATH SAHA: MADAM,i HAD A CREDIT CARD WHICH CHARGED WRONG INTEREST FOR LATE DEPOSITING OF THE DUE AMOUNT.hOWEVER WITH THE INTERVENTION OF RBI OMBUDSMEN THE LATE PAYMENT WAS REVERSED BUT THEY SUSPENDED MY CARD. wHAT IS THE WAY OUT NOW? PLEASE GUIDE MERegardsATINDRA

Harshala C: Please access your own CIBIL report and check what has been reported by the bank. If there are any inaccuracies then via the dispute resolution mechanism CIBIL can facilitate with banks to update the credit information

VIKRAM GUPTA: I had a axis bank credit card in 2007. My principal was 90 only and that i forget to pay, but in 2011 i shoked after come to know from cibil report that i have to pay 3200 to axis bank, after that i visted bank and they told me to pay 1600 rs as a final settlement. now in 2013 i chkd my cibil report it shows settled status,how to remove that status

Harshala C: If there is settlement done with the bank, the bank will report it as Settled Account. You may write to the bank for any discrepany in the status reported

anil bohra: I just got my cibil score there in loan history section i have application for credit card which i have never applied and does it affect my cibil score

Harshala C: Enquiries in the credit report do have a marginal impact on the score.

Indrajit Dasgupta: already settled out with ICICI whereby they have given me the amount back which was deducted from my account.Now my problem is that the name has not been deleted from CIBIL. As a result, neither I am getting any credit card not any loans are sanctioned to me where I can develop my credit history.

Harshala C: I would request you not share you personal identification details like PAN online. Some banks give a secured credit card or a loan against a Fixed Deposit. Once you avail of that loan or card ensure that you make timely payments and build your credit history.

gopalakrishnan: Hi, I have a credit card outstanding/Default. I dont have the details of the card nor the bank i dealt with. Is there any possibility to retrace the banker with the credit report or by other means. I wish to pay the outstanding and get rid of it. can you assist on this.

Harshala C: You can check on the CIBIL report the name of the bank which has issued the card to you. You can contact them for the details pertaining to that account.

zubeda-pawaskar: I have a salary account with Axis bank and i am using credit card of the same bank. Card is platinum and i need to upgrade it with Gold or Silver. Is it possible? What to do?

Harshala C: Please write to the bank and check with them if they will upgrade your card.

G.G.-Rajan Nair: what is the good score to take the loan from bank

Harshala C: While each bank will have its own credit scoring cut-off based on the credit sanctioning policies, it has been observed that a credit score of 750 and above is considered as a good score.

Anil poojari: is there any solution to remove a name from cibil

Harshala C: You cannot remove you name from the CIBIL repository. Banks share both positive and negative information pertaining to loans and cards.

Darshana Barge: I have an ICICI Cr card which has an o/s of 23000. I regularly pay the minimum due amt, rather more than that. I also hv a citibank cr card for which I regularly pay the EMI. Infact for citibank, I have paid twice before the EMI tenure was over. Will you please tell me whether it will affect my CIBIL for applying any home loan in future.

Harshala C: As you have been regularly paying only the minimum amount due on your credit card, the bank will report no amount overdue on this account and therefore your credit score will not have any negative impact. However you also have to ensure that you regularly pay EMIs on all the loans or credit cards which you may have availed, in order to ensure a healthy credit score

vilas n: previously i am using 5-6 credit cards last 4 to 5 yrs my cibil report are showing bad report what to do

Harshala C: I assume that you have defaulted on some card payments. TO build a good credit history ensure that you make timely payments on all the dues and EMIs. You credit history and score will start improving gradually over a period of time.

shoban babu: I used to have 3 credit cards, 1. ICICI, 2. Axis & 3. SBI. I have closed the Axis Credit Card by paying total outstanding amount and I Settled the other 2 cards. But till date my name has not been removed from cibil. How can I remove my name from defaulter list/cibil. S S Babu.

Harshala C: You cannot remove your name from the CIBIL database. Banks will continue to report information on your loans and cards. Do check your CIBIL report to ensure that the information is updated and accurate

nandakishore gupta: Hello Madam, my CIBIL score is 525 and I had credit card settlements and its showing in written of status, and 2 cards are having no details in CIBIL report even. How to Improve my CIBIL Score.

Harshala C: You will have to start building your credit history. This can be done by making timely payments on all your cards and loan EMIs. If there are any credit cards which are not reflecting on your credit report, contact the banks to report that information to CIBIL.

Singamsetty Rajesh: Madam Harshala Chandorkar, I used 6 credit card in my good time, the banks came after me to offer the cards when I was well enough, upfortuanted I have an accidient and ended up as defaulter but however settled all the cards, and I now I am having 450 points in CIBIL,,,which is denying me to apply for any loans, how to remove my name from CBIL can you please advice?

Harshala C: You cannot remove your name from CIBIL. However some banks do offer loans against Fixed Deposits or a Secured Card against a FD. You may avail that and start building your credit history by making timely payments on your dues.

Supriya Mukharjee: mam my husband holding scb credit card, we have some O.S. and it is for some despute with bank. we want to pay the actual O.S. for what we have write to bank and banking ombusment. .but from scb we have not getting response properly.. is this case is now in CIBIL ??

Harshala C: Do access your own CIBIL report and check what has been reported for that particular card.

Balaji Jegadeesan: hi, I have 631 points in CIBIL Report. how can I improve to 750 to avail home loan. I have 2 credit cards with one lac O/S?.

Harshala C: Make sure you make timely payments on all you loan EMIs and credit card dues. This will ensure that you build a good credit history and will improve your score gradually.

akash das: Hello Mam, I had paid all mine dues of mine past credit card after 2 years they are saying still some dues are there. When I ask for statement they said itsnot posssible to generate . so whether i should file a case in consumer court.

Harshala C: Each bank has an Customer Grievance Escalation Matrix. If you are not satisfied with the response given by the bank you may escalate it within the bank

Irfanur Rahman: Dear MadamI want credit card then how I will get it.Pls advise

Harshala C: You will have to apply to the bank with all the necessary documents required by them to avail the credit card.

ABHAY SHAH: I HAD HDFC CARD AND STOPPED THE PAYMENE ON SEP 2011.SINCE THEN THEY HAVE CHARGED SO MUCH THAT THE AMOUNT CAME FROM 1,96000 TO 4,24,000 TILL DATE..PLEASE TELL ME HOW TO SOLVE THE PROBLEM

Harshala C: Please write to the Customer Grievenace Cell of the bank to resolve your issue.

chandrashekar-g: Is it not the duty of credit card to provide details of non-realisation of cheque though cheque is in order. Why cheque shd be retained by the credit card provider instead of sending it to banker. Sometimes emails are not attended thereby giving room for payment as fine. If queries are made by email and not replied service providers can be at fault?

Harshala C: You bank will give you details if the cheque issued by you has not been processed for payment. They will also give you the reasons for non realisation

charan singh: I have some pending grievance with Kotak Bank, for which I have sent so many mails to customer care, collection dept., etc but no proper response from them. Points redemption request taken but not fulfilled. How to handle and where to address, if bank is not ready to understand my problem.

Harshala C: Each bank has a Customer Grievance Cell and an Escalation Matrix. Please write to them with your complaint.

venkataramani: madam i am used credit card till 2009 this cards are settlement & i now apply new credit card i am eligible? & my cibil score?

Harshala C: If you have settled your credit card dues then there will be a ‘settled’ status reflected on your credit report against this credit card. Please remember that though there will be no negative impact on your credit score because of this settlement, your credit report will show a “Settled” status in your report. Each bank has its own policy of viewing at a “Settled” status and will decide on your future loan applications accordingly.

Abhinandan: how can i remove my name from CIBIL ?

Harshala C: Please remember CIBIL is not a defaulters’ list from which you can add or remove your name. Your name will be on the list if you have ever taken a loan or a credit card. CIBIL is a credit information company that collates information on credit history of borrowers.

vishal khemka: Harshaji, I had dispute with my PNB credit card regarding Fraud transaction, I had paid all the genius transactions payment, but still pending the fraud transaction payment> i had written letter to my banker, RBI too, But all are saying that they cannot help in this case, will my CIBIL rating be affected with this?

Harshala C: I would advise you to access your credit report and see what it reflects. If you find any incorrect information on your credit report then you can raise a dispute on CIBIL’s website and we can help coordinate with the member bank. Please remember that CIBIL can only make changes to your report, once the lending institutions submit the updated/ corrected data.

Mohit Jaiswal: madam, if I am paying loan properly but credit card dues - I pay sometime 20 % , 30 % of the total dues, my score has come 732, what is the good score to take the loan from bank....

Harshala C: While each bank will have its own credit scoring cut-off based on the credit sanctioning policies, it has been observed that most banks are lending to consumers with a credit score of 750 and above. In addition to a good credit score lenders may also consider other critical factors like your income to debt ratio, your residential status, professional qualifications etc. while deciding on your loan application. Therefore along with a good credit score you must also ensure that all these factors are well placed before applying for the loan.

Rajan: Hello Mam, My current score is 819, but have some late payments due to unawareness on cc in 2011. can i get cc now based on the current score and my current timely payment behavior. kindly guide

Harshala C: You have a good credit score and you may not face any hurdles in getting a loan or a credit card based on your credit score. However please remember never to default or delay on your credit card or loan payments as this is unhealthy credit behaviour and negatively impacts your credit score.

rajeev singh: what is the benefit of having a good credit score ?

Harshala C: If you have a good credit score and a healthy credit report you will be able to avail loans and credit cards faster and without any hassles. Infact with a good credit score you may even be able to avail instant loan approvals from some credit institutions.

Another benefit of a high credit score and a healthy report is that banks prefer such loan applicants. If you have a high score, you may also be able to bargain for better terms and conditions on your loans or credit cards. Remember! Your credit score and credit report can be one of your key to obtain fast and hassle free loans.

Abhijeet Jhunjhunwala: I hold 6 credit cards from various banks to avail of various offers and discounts. The payment on all the card are made timely and i got one card sanctioned recently in the month of June 2013. Does holding multiple credit cards impact CIBIL score negatively?

Harshala: Holding multiple credit cards may not impact your credit score negatively if you have been regular on payments on all these cards. However you must be careful and keep a track of all your credit cards regularly. You must ensure that they are kept securely and all the terms and conditions on the credit card account are adhered to. You may not like to have surprises in the form of penalties or additional charges that have been levied on the credit card accounts. It is also advisable to access and review your credit report frequently, as it will give you a detail status of all your credit accounts.