Credit card declined---On what CIBIL reasons??

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If cibil is bullshit then it should be reported to cibil authorities stating that banks are misusing and harassing customers any how.
Cibil is ok for loans etc. but using them for issuing credit cards is terrific as many innocent customers are facing issues for no fault of them.
For Premium credit cards where one has to maintain substantial bank balance cibil verification makes sense rest even for a nominal card its very frustrating and non-sense!!
 
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Also my CIBIL report shows my home address somewhere out in the boonies of UP, where I have never ventured. And there is a "KUMAR" in the middle of my name. First name "KUMAR" Last name. So obnoxious. I have used the KUMAR nomenclature anywhere in my life. All this seems so dumb.
 
asingh said:
Also my CIBIL report shows my home address somewhere out in the boonies of UP, where I have never ventured. And there is a "KUMAR" in the middle of my name. First name "KUMAR" Last name. So obnoxious. I have used the KUMAR nomenclature anywhere in my life. All this seems so dumb.
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Your CIBIL account seems to be linked with some other person's credentials, as there is a overlap ( check for some other person with Kumar in name); it is better you put in a mail to CIBIL and PAN if you haven't taken those loans. It will be problematic in the future.
 
The most pathetic thing: why the hell need to pay for knowing our own CIBIL record?? Its totally unfair. At least twice a year report downloading should be free.
CHu cibil authority loots us in this fashion.

I wonder what will ever happen if govt. makes everything chargeable--peeping into our own bank a/cs, electricity bills, pan, adhar site, gas etc etc... so in this way a common man will let go off every identity and roam lavaris or shift pakistan or bangladesh where trespassers are more relaxed and less tension free.
 
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CIBIL Update: (emphasis is mine)
A healthy CIBIL (Credit Information Bureau of India) report and score increases the likelihood of getting a loan and costs Rs500.

"By the end of the year, the Credit Information Bureau of India will start providing individuals with one free credit report a year, so that they can check their credit rating and petition if they see possible discrepancies," RBI governor Raghuram Rajan told delegates at a seminar on 'Transforming Rural India through Financial Inclusion'.

"When an individual knows that a default will spoil their credit rating and cut off future access to credit, they have strong incentives to make timely payments," Rajan said.

According to analysts, 79% of loans and credit cards were approved for individuals who had a credit score of 750 and above.

Harshala Chandorkar, Chief Operating Officer, CIBIL said that CIBIL would launch a new product which would give banks some information regarding lending to first-time borrowers.
 
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If they allow free checkup - how will they authenticate the person who is requesting the credit report is the owner of the PAN?

In fact, how do they currently authenticate the folks who request reports online? I mean any fraudster who knows your PAN can sign up and get credit report (though not much point I know).
 
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