CIBIL Enquiry

[Virat]

As of now 16 Credits Cards I am holding include ICICI, SBI, AXIS, HDFC, BOB, One Card, AU, IndusInd & Yes Bank with 69 Enquiries in the last 4 years does it affect in future?

 

[Virat]

Total Credit Limt: 12,14,000₹

 

[Virat]

Max. ?

Yes

 

[Virat]

IndusInd Bank: 2,97,000₹
Amazon Pay: 2,70,000₹

 

[Virat]

Legend

 

[sameerdes]

As of now 16 Credits Cards I am holding include ICICI, SBI, AXIS, HDFC, BOB, One Card, AU, IndusInd & Yes Bank with 69 Enquiries in the last 4 years does it affect in future?

Although CIBIL scores are a bit overrated, would suggest to try balancing the enquiries & application speeds still. Though wont call myself an expert on this, on the face of it so many enquiries in such a short span could indicate credit hungriness (from a financial institution's perspective). It could impact your upcoming loans, new card applications etc if any unless you have a long 8-10 yrs or more credit history already. Just my take.

 

[prc1990]

Although CIBIL scores are a bit overrated, would suggest to try balancing the enquiries & application speeds still. Though wont call myself an expert on this, on the face of it so many enquiries in such a short span could indicate credit hungriness (from a financial institution's perspective). It could impact your upcoming loans, new card applications etc if any unless you have a long 8-10 yrs or more credit history already. Just my take.

That's right even if you have 100% on time payment history, your risk profile is very very high (due to all these back to back enquiries) from a lender perspective.