Need help regarding CIBIL report


I had an ICICI Bank credit card. I did a transaction of Rs 22,000 (purchases) in October 2006. Since then I have not repaid the same. Now the total amount due is Rs 38000(22000+interest n charges). Bank had called me to pay the total amount of Rs 38000. Is it fine if I pay only Rs. 22000, since the bank has told that this will be the full n final settlement. But I wanted to know if this will it affect my CIBIL REPORT? If I can pay only Rs 22000 in installments, will it correct my CIBIL REPORT? Kindly help.


When the bank says you need to pay a certain amount, it is better you pay it at the earliest. You can visit the head branch and negotiate from the final proposed amount of Rs. 38,000. They might decrease some value from the final amount, but most of the banks will not accept installments at this stage. Since you have defaulted for more than 6 years, it will certainly affect your credit score. So it is better to pay off the remaining amount and settle the issue with the bank. Eventually, when you clear all your debts, it will boost your credit score.


Dear Sir,

If the outstanding as of today is 38,000 and you only pay22,000, this means that the bank is asking you to make the settlement on the said account. The account status will appear as “Settled” on your credit report. This is viewed negatively by the lending institutions and will have a negative impact on your credit score.

Please do confirm with the lending institutions that are they offering you a ‘settlement’. Do confirm with the bank that how this account will be reported in your credit bureau report and also make sure the NOC has the details in it.
It is always advisable to pay the entire amount to clear all your dues and close the account.

To know more about credit bureaus and how they affect your credit life, you can download our free E-Guide on Credit, Credit Bureaus and all that:



Hi bbqueries,

If you do not pay your Credit Card bill, it will have a negative impact on your Credit Score. A final settlement is much better than paying your bill in instalments because it will help you improve your score quickly. You will see your score improving within a few weeks of settling your dues. In case you repay using instalments, it will take months to get your score back on track. Speak to your bank to see if they can reduce the charges levied. Once you fix the final settlement amount, pay it as soon as possible to correct your Credit Score.

BB Expert


I had taken housing loan from oriental bank of commerce for 10 year term but I paid it with in 5 years but it’s not showing in my loans why


Hi Syadav,

As you are already aware, wrong information can also lower your Credit Score. If you find that the Home Loan doesn’t appear in your Credit report, you should write to your bank and ask them to inform credit information agencies that your loan account is still running. Once your bank informs the credit information bureaus, your Credit Score will get updated. This might take about a month.

Banks feed in borrower data and personal information, which the CIBIL systems pool together. The control number is generated when banks pull out your credit report on a requirement basis.
The control number is a unique number, which is generated every time any bank or credit institution pulls out a credit report on you. CIBIL requires this number because it enables them to view the exact details that the bank has seen when they drew a report on you. Hence, it is important for you to request the bank to provide you the control number.

If you want to improve your Credit Score, paying your Credit Cards on time, every time, will surely help improve your score. This might take more than a year. Check this blog post for more information – 3 Ways To Improve Your Credit Score Quickly.

Another important point is that Credit Card application rejections can affect your Credit Score as well. This is an unknown factor for many. This is why it is important to choose cards that you are eligible for. This is where a site like BankBazaar can help. Based on your inputs (such as your salary, existing cards, their credit limits, etc.), BankBazaar will provide you with the cards or loans that you would be eligible for. This minimises the risk of your application getting rejected.
Also, note that your Credit Score determines what kind of card you are eligible for and what interest rates could be offered on the card. And if you want to check your Credit Score for free, click here.

Looking for a Credit Card? Click here.

BB Expert