So I made a mistake - help

[daregreatly17]

So I did a blunder recently, all because of my negligence. I have two credit cards, ones due date is 4th and the others 16th . I confused them with being 6th and 14th, as a result I made payment of one card two days later and one payment 2 days earlier . Now I applied for a small loan from a bank they processed everything and then said it can't be approved becoz i had defaulted on a payment. I said no I didn't , infact I pay extra and before due dates. They said no it is showing in cibil and when I enquired myself and checked the statement, it was indeed a late payment on my first card , by 2 days , paid on 6th instead of 4th and paid on 14th instead of 16th on the other . This created a late payment of 2 days on one card and hence they rejected my loan even though my cibil was 790. Now I will speak to them tomorrow, but I am just asking for reference, will this be accepted coZ it's only 2 days and barely 5k rupees? Or should I wait for 3 months before I reapply, will that work ? The bank is icici

 

[graceandjoy]

@daregreatly17 idk...

All I know is Credit cards make money, if people were as disciplined as people claimed, the credit card industry wouldnt be in a profit.

 

[tonemonkey]

@daregreatly17 Contact bank samadhan, I have heard they are preety good in resolving issues. However they do charge some amount.

 

[ngocthanh2015]

@daregreatly17 Fix a date for all credit cards generally 1st of every month or your salary day pay them off. Dont wait till the last date of due

 

[pilgrim37]

@daregreatly17 The next month onwards, put a recurring Google calendar meeting a day before due date with the title of the card.

It saves a lot of hassle of having to remember the dates and cards.

 

[rd2kingdom]

@daregreatly17 Alway pay on statement generation date. You should get an email or message about it from your bank.Its easier to track.

 

[omar]

@daregreatly17 There is a grace period of 72 hours after your due date of CC, so if you pay within that grace period, the delay should not be reported to CIBIL. Check your credit report yourself, you report accessible to the lender has very limited information and i have seen them misreading the reports.

 

[daregreatly17]

@omar it shows nothing on my report .infact last i checked it went up by 20 points,idk what delay they are talking abt . tried calling the rm,he isnt responding now .

i'm asking, even if they agree to their mistake, or if they tell me the error of delayed payemnts,its only by 2 days right, but the loan has already been rejected and i got a mail too, can it still be approved after being rejected on their records ?

 

[christandcoffee]

@daregreatly17 Implement auto pay for future payments.

 

[dongphong19]

@daregreatly17 Don't take a loan if you have any options and make sure to use UPI instead of a credit card. These loans and cards are debt traps even if you pay the money before the die date. It is a personal experience, the rest is on you.

 

[bigpaul]

@daregreatly17 Why do you want to take loan?

I would suggest you to Close down the credit cards

 

[daregreatly17]

@bigpaul That's a bit harsh though. I have an unforeseen expense by the end of 2 months that I can't cover coz I just started working and my parents don't have the money for it. That's y

 

[bigpaul]

@daregreatly17 I understand that unforeseen expense is coming. You can ask your credit card company for loan on credit card for immediate requirement.

But I am talking about the longer term.

Start financial planning. Take term insurance, health insurance and create an emergency fund of 3-6 months of expenses.

You shouldn't need credit score for any significant reason.

 

[daregreatly17]

@bigpaul Yes I know . That's the plan . I have all this in mind . Through the next 6 months i plan to execute every thing that u mentioned, insurance, emergency funds etc. all of it

 

[bigpaul]

@daregreatly17 Great. Post that, close those credit cards as they increase expenses, others around you will still have credit cards for those one time discounts on amazon / flipkart.

 

[nothingnobody]

@daregreatly17 Request a waiver from them

 

[daregreatly17]

@nothingnobody I am sorry, waiver from ?? Cc bank or icici?

 

[nothingnobody]

@daregreatly17 From ICICI… delayed payment is still a payment. Red flag is non payment.

Please put a reminder in your mobile for 3 days earlier to due date for payment of credit card repeated monthly, else you will unnecessarily keep suffering with low cibil score.

And whatever you do never overshoot that date and always pay it in full… borrow from relatives if need be but CC should be paid in full.