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Zero effect on the credit score despite multiple inquiries

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S S V said:
Thank you for your aprreciation... and very good to see that you have comprehended my post very well ...


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I apologize for not expressing my gratitude earlier. I'm relatively new to this community. I primarily participate on Stack Overflow, where moderators discourage formal greetings and well-wishes. I'm concerned that I might face a ban here. Here people are so warm and welcoming.
Thank You @-s-v.14531 !
Thank You all participants.
 
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As far as I remember for long time score got stuck between 785 - 799 for muliple years.

Then all of sudden one fine month refresh it got reduced to 753 and stuck like that in 2 years.

Before considering all possibilities about this, things not changed before or after this score change:

- Utilisation always between 5-10%.
- Enquiries very moderate (max. 8 in one year other years 2 or 3 like that).
- No delays or disputes.

But when I saw reduced score, I observed one thing that is very strange coincendence that exactly year ago got approved two cards (till that time max. 1 or none).

And when requested CIBIL for exact reason, here are some points they said that might effected my score:

// This is after comparing both reports (30+ points difference) ofcourse, along with Internet 'how to improve your CIBIL score points'
  1. We would like to inform you that there are various factors which influence the CIBIL score such as payment history, outstanding debt, length of credit history, number and types of loan accounts, utilization. We would also like to inform you that all the accounts which are reported in the last 36 months are considered for Score computation.
// So, last 36 months very crucial along with below point. And any changes related to increase in credit limit or new accounts impacted my score.

  1. Addition of below mentioned accounts in the control number, which implies addition in liability of the borrower hence there is dip in score observed. Also, below mentioned account was reported for less than 12 months hence below account was considered as unsatisfactory trades and impacted the score computation. A trade would need to be open for at least 12 months for it to be termed satisfactory. The higher the percentage of the trades being conducted satisfactorily, the higher the score for an individual.
// So, it means if you open or close accounts, it won't affect much but to improve score it needs to be >12 months.

Note: credit history is a significant indicator of the financial behavior of the borrower. Thus any change in its behavior be it be standard /negative/absence of reporting will have impact on score computation.

My take:

Do not know 100% sure way importance of these points in my score computation but it affected me and sure way do not know these are valid and applies to all, or maybe their standard template for these kind of requests.

Just saying, if its good today doesn't mean it will be good tomorrow. Unless we know sure way how it works, we never know when things might change.

Suggesting you to follow usual practices with moderation. It may (or maynot) impact at hard times when needed, but when it did we can't do much (unless high income backed us, in that case banks don't need CIBIL itself to offer loan or card). Just saying...
 
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S S V said:
No of recent enquiries and their impact on the score gradually decreases as your credit profile ages.. these two elements are inversely proportionate..
After some years, you won't even see the impact on the score even if you make 10 enquires, or so and at some point they become insiginificant...
Having said that, you won't necessarily see this impact immediately.. it may take sometimes some days.. so, wait for a week or 10 days to see if these enquiries have some impact on your wife's score..
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Makes sense.

I got OneScore app based on yours & others suggestions. Is there any App or Site that shows SCORE over Time?

As a graph or numbers so that we can trace some historical numbers?

Cause as per my RM apparently CRED (my first neo Fin app) shows my score as 795 last month (if we could recall correctly) and now its approx 770 780 ish.

Would also maybe like to check how its gone down/ up over the last 3 years and prior history if at all possible.
 
insight said:
Would also maybe like to check how its gone down/ up over the last 3 years and prior history if at all possible.
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I don't think it's available to the common public. Onescore and some other apps track monthly scores but only from the month you start using the app.
 
S S V said:
No of recent enquiries and their impact on the score gradually decreases as your credit profile ages.. these two elements are inversely proportionate..
After some years, you won't even see the impact on the score even if you make 10 enquires, or so and at some point they become insiginificant...
Having said that, you won't necessarily see this impact immediately.. it may take sometimes some days.. so, wait for a week or 10 days to see if these enquiries have some impact on your wife's score..
Click to expand...
After 2 months I can confirm there was no effect on my profile, while my wife's score dropped 20 points after I tried 2-3 more inquiries. The following month her score recovered 16 points so technically 4 points loss.
 
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