Day Trading Stocks & Futures

[mohan.sic]

Hope you haven't missed installment. Any type of loan is included in liability.... please check with bank they will help you..

no nothing...now I just have one kotak bank personal loan which I pay 4 k per month that also I left open so that I will have some credit open. I closed all credit cards last year itself after leaving job. Not a single change in my credit line from one year.. thats the worry.. why sudden decrease when I even don't have any new activity ? anyway lets see that cibil will say on this.

 

[cinderblock]

If you have closed ALL credit cards last year, that is the reason for the drop.

Your score depends, in part, on how old your credit cards are and your total credit limit. If you closed your cards, your limit has fallen and so has the average age of your credit.

Given a choice you should always close your newer cards first and the ones with lowest credit.

If you didn't have an annual fee on your cards, you shouldn't have closed then.

 

[siddhant4u]

Digged up further

https://m.economictimes.com/small-b...it-data-of-consumers/articleshow/71194383.cms


Giving data access to unregulated firms is against CICR Act 2005
As per the Credit Information Companies (Regulations) Act 2005 (CICRA), banks and NBFCs are mandated to report every retail loan to all four credit information bureaus- TranUnion CIBIL, Equifax, Experian, and CRIF High Mark. They also have to keep these credit bureaus updated on the repayment behaviors of the consumer. This allows lenders to use this data and evaluate the customers before giving loans.

 

[siddhant4u]

If you have closed ALL credit cards last year, that is the reason for the drop.

Your score depends, in part, on how old your credit cards are and your total credit limit. If you closed your cards, your limit has fallen and so has the average age of your credit.

Given a choice you should always close your newer cards first and the ones with lowest credit.

If you didn't have an annual fee on your cards, you shouldn't have closed then.

That’s right, make sure to keep your oldest credit card and/or bank accounts open.

 

[vikas2131]

Margin changes come into effect.

20% increase for naked positions. Hedged positions get margin benefit.

I am in margin call - hehe

Margin increased once again ?

 

[cinderblock]

June 1. Yes.

 

[travi]

If HdFC bank doesn’t send data to cibil, why it has articles on importance of cibil score?

View attachment 42779

Bhai, that was my last post, you can take it up with the Bank
Crisil rating is partially crap, imagine how much info like the one i explained isn't reaching them. I mean the good credit ppl.

Everything they advert isn't how it works. Being very old a/c holder + CC + sizeable everything i know how it is firsthand
i've gone through the similar comm with bank but its their policy.
And i dont have any active loan(s) nor have i defaulted. As i said, these two maybe required but not all the personal and sensitive info. Another bank has given all my details to them.

 

[vikas2131]

June 1. Yes.

How much. Any article?

 

[cinderblock]

I thought it was 10% from one of the calculation tables before. Looks more like 20%
https://tradingqna.com/t/new-margin-framework-is-here-to-benefit-hedged-positions/70652

 

[mohan.sic]

If you have closed ALL credit cards last year, that is the reason for the drop.

Your score depends, in part, on how old your credit cards are and your total credit limit. If you closed your cards, your limit has fallen and so has the average age of your credit.

Given a choice you should always close your newer cards first and the ones with lowest credit.

If you didn't have an annual fee on your cards, you shouldn't have closed then.

bro, what are you saying... why will score fall if a card is closed. Does your score fall if your loan is completed ?? Infact its a healthy sign that I don't use credit cards. That very positive. Anyone's score increases or remains same on closing credit cards ( this is not settling. this is simply closing an account )

Actually I understand what u said on closing but it does not apply here. When you keep the older card active it can help in evaluating your credit worthiness as it has more history than new card. So they say its better to close new card and keep your old card so when you have good long history it helps your score. This does not apply when you no longer need credit or choose not to use it.

Not due to annual fee. I closed because I left my job and there is no regular income.