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  1. Bijay Samal
  2. Finance, Insurance
  3. Wednesday, October 23 2013
Hi i have 5 bank accounts and have almost all bank's credit cards. I have some issue with one of my credit cards and i hv closed the same. They have send me some mail with extra charges which i had not paid. But other credit cards are working very good. Pls let me know if it will give some bad effects for taking a home loan.
Gagan Modi Accepted Answer
Hello Bijay,

It depends - like

- If the Bank has not closed the card in books and has worse Suit filed against you or the repayment has gone bad with outstanding in excess of Rs. 10,000 - shown in books - then yes it may hamper CIBIL score and lending bank can ask for reasoning for delayed payments backed with documentary proof - if the issue is from bank side or may even restrict the loan amount too

- However, If rest of the credit cards / loans are running fine, with timely repayments, and some of them active too. Also - if there is no suit filed by the Bank with which you have issue - then to the best of understanding i have - the Bank can proceed to go ahead in sanctioning the loan with a verbal justification too from your side

Add on - will recommend to go and apply first with Bank - where you hold a healthy banking relationship and card payments are going on fine - it will help them to sanction your loan without much of a hassle.

Also - do not make multiple loan applications simultaneously with 2 or 3 of them - It can also impact CIBIL & Lending ability too
Hope it answers !!

  1. more than a month ago
  2. Finance, Insurance
  3. # 1
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