whether to pay the credit card bill or not

POSTED BY surendrakalyan ON August 29, 2012 5:28 pm COMMENTS (5)

Dear manish,
I have used xxx creditcard  in 2004-05 after that i have cancelled it because of annual fees.Recently ( last month) one of the executive of scb called me and told that if I PAY 4000 RS  he will provide complete settlement letter and also remove my name from CIBIL which they have kept in 2006. I have asked them why are you not called since 2006 and provide my billing details then he told me sorry for not calling , details can’t be given because my card is blocked status.IS it usefull pay the amount now and how can trust that executive.Can  i trust that my name can be removed from CIBIL and maxium how many years they keep my name in CIBIL.
Thanking you,

5 replies on this article “whether to pay the credit card bill or not”

  1. surendrakalyan says:

    1.Thaks for immediate reply. My credit card bill can’t be shown because it is in blocked position. I am ready to pay the bill but my doubt is that is they really update the cibil as they are belong to settlement section.If they can not update the cibil what should i have to do.
    2.How to check the cibil and in cibil is they showed defaulted credit card list or only cibil score.One of my friend has face the problem while checking cibil score,after the payment through the credit card it has shown the form that we have to fill it and send to cibil address.Is there any procedure that we can check it online?

    Waiting for your reply

  2. Lokesh Jain says:

    Dear Surendra,

    Just do first thing, directly go to concerned bank branch, and ask for the your credit card statement. In case there is any outstanding, the card cannot be cancelled. It will show in bank records. If there is any outstanding, clear it with bank what charges are being paid and if there are any dues, clear it off. Then ask the bank to give NOC and also update the same in CIBIL.

    In the mean time also take out your CIBIL Score.

  3. yea as suggested by others, first look at your report/score . If you have cancelled your card earliar and there was no dues at that time, then you dont have to do anything , the bank official might not be saying the right thing , you never know .

    But if you closed the card with some outstanding earliar, then it would have grown to a big money now , which you will have to clear. Whenever you do it, make sure you take NOC from bank , and yes it will be updated in your report later in 45-50 days !


  4. Dear Kalyan, please do nothing on credit card as of now. First of all please apply for your credit Score & Report to CIBIL. Once your Score & Report is there, please check it for that unpaid credit card thing & it’s impact on your score.

    Come back here in the forum & then only you should decide to pay or not pay?



  5. Krishna Kishore Appala says:

    Dear Surendrakalyan

    Firstly it is always advisable to check the CIBIL score once in year.
    But in your case your name is under CIBIL from past 7+ years. So i would suggest you to take a step forward pay the outstanding balance & Block your card & Double check with them in Cancellation of the card & removing your name in CIBIL.

    Any how once you had paid your outstanding amount, the same status will be updated by the banks to CIBIL every month. So make sure of it.

    Minimum period : 7 years
    Maximum : Not sure


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