OneCard - OneCard Lite

[igloo]

Emi on credit card is a big model atleast for hdfc the top cc issuer.

 

[Smh]

How people are investing just for data is crazy.

What happened to FreeCharge, mobikwik etc.

 

[Jonas]

People at HDFC bank made two credit card enquiries without my consent or knowledge and it hit my score. I tried to raise a dispute, but it didn't make any difference. This is why I don't even entertain anyone unless I'm sure I want a new card, and I don't think you guys should trust IDFC.

 

[Smh]

Monthly credit checks are soft inquiry only.

 

[mikrotik]

Still took the wrong decision of going with this card. I will make a small transaction and get ride of this card after an year.
Because if I remember correctly if we cancel a card in less than 1yr, credit score takes a hit

 

[Jay]

Monthly credit checks are soft inquiry only.

They say this, but like above, I was hit with four consecutive monthly hard inquiries for my HDFC card. I've disputed it in CIBIL, don't expect anything to come out of it though.

 

[socrates]

in the end, it seems clear that they are giving the card to anyone and everyone who is applying. credit limit might be limited. no idea what exactly is their game plan.

Probably gathering data from all who install the app or apply for the card.

 

[socrates]

I have two queries
1) What is this hard & soft enquiries?
2) How do we come to know if someone has made an enquiry about you?

 

[Jay]

FAQs – Understand Your Credit Score and Report

Simple, descriptive answers to all your queries regarding your CIBIL Score and Report.

www.cibil.com

What Is a Hard Inquiry and How Does It Impact Your Credit? | Credit.com

Hard inquiries can bring your credit down, so you need keep track of how many are hitting your report. Find out more about this credit score factor.

www.credit.com

How do we come to know if someone has made an enquiry about you?

Access your CIBIL report, it'll have a section on inquiries.

Free CIBIL Score and Report

www.cibil.com

 

[Smh]

I have two queries
1) What is this hard & soft enquiries?
2) How do we come to know if someone has made an enquiry about you?

Hard inquiry- If you apply for credit banks request for a credit report from cibil, Experian or any other credit report agency. (Credit report and score are different) Not sure how it works in India but in some countries the report banks gets is mich more comprehensive and may have a different score than what you see.

Soft inquiry - You directly check from your score from credit reporting agencies for tracking or before applying for a credit. This is for personal use and not be used by banks or other lenders.

How to check - Hard inquires will be availablein your credit report i.e. you will have to make a soft inquiry to know this.

Difference/Impact of both on your score-
Soft - No effect.
Hard - It shows how credit hungry you are. It may seem odd but banks don't want you to use too much credit. Less is better.