2 months back my cibil crashed suddenly by 29 points, despite no impacting activities.
I am following up with them but these people are dumb and there is no transparency as well. Despite writing a thorough explanation, they responded with a rhetorical answer with a link to how cibil score can be improved.
In September my cibil was 792. With 6 activit cards, 2 secured loan account (0 balance, against securities, no transactions) all atleast 2 years old. There wasn't even a query since Nov'21. (There was one by SBM bank without consent, which I got retracted.)
Some things that I think could have impacted it, but shouldn't have ideally -
- 3yrs passed since closure of auto loan. from what I heard that CIBIL takes 3yrs history into account for calculations, correct me if wrong) as it was the exact month when the score changed, I suspect it highly to be the cause.
- another reason could be higher than usual utilization. though I stay around 2-3% utilization due to high limits and multiple cards, I made a card emi purchase of 1.7L in September, but later preclosed it in the same month itself (hdfc), even that wouldn't go beyond 20%. Tough I have had such high expense on axis cards twice, earlier that year, with relatively lower limit, it didn't happen.
- cibil guys are saying my "current credit" is (was) increasing from 2-3 months, that means I am not paying bills on time. What rubbish? If they have a prameter separately for banks to tell, how does it make sense?? (may be considering people who pay minimum dues??)
Anyway, I am going to start escalating this issue by providing my card statements showing no dues/delays ( as soon as I reach home)
But has it happened with someone here? Can you suggest what could be the reason or what else should I do?
I am following up with them but these people are dumb and there is no transparency as well. Despite writing a thorough explanation, they responded with a rhetorical answer with a link to how cibil score can be improved.
In September my cibil was 792. With 6 activit cards, 2 secured loan account (0 balance, against securities, no transactions) all atleast 2 years old. There wasn't even a query since Nov'21. (There was one by SBM bank without consent, which I got retracted.)
Some things that I think could have impacted it, but shouldn't have ideally -
- 3yrs passed since closure of auto loan. from what I heard that CIBIL takes 3yrs history into account for calculations, correct me if wrong) as it was the exact month when the score changed, I suspect it highly to be the cause.
- another reason could be higher than usual utilization. though I stay around 2-3% utilization due to high limits and multiple cards, I made a card emi purchase of 1.7L in September, but later preclosed it in the same month itself (hdfc), even that wouldn't go beyond 20%. Tough I have had such high expense on axis cards twice, earlier that year, with relatively lower limit, it didn't happen.
- cibil guys are saying my "current credit" is (was) increasing from 2-3 months, that means I am not paying bills on time. What rubbish? If they have a prameter separately for banks to tell, how does it make sense?? (may be considering people who pay minimum dues??)
Anyway, I am going to start escalating this issue by providing my card statements showing no dues/delays ( as soon as I reach home)
But has it happened with someone here? Can you suggest what could be the reason or what else should I do?
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