CIBIL score down due to multiple surprise enquiries

[arjun697]

Hello, I had applied for a SBI Vistara card via an agent at the mall. This was stuck in Chennai for close to 2 months and I followed up in Sept with a mail where they finally said we will revert in 11 days and ultimately rejected. For the same application, there was a CIBIL enquiry in July and September? Can one of them be removed and who should I contact?

Also, somewhere in the last week of Sept. I got multiple calls from Indusind asking me to take their pre approved LTF Legend card on the basis of my spends on Indusind Debit/Easy Diner CC. I checked with them if this is pre approved/there won't be any credit enquiries and they said 'Sir its pre approved'. So I told them to proceed with this and got the card in a week. Now when I checked my report, they had also checked in CIBIL for issuing this. I would have not even taken card had I known pre approved will require CIBIL checks. Any way to fix this?

P. S. Another reason for decline. I crossed the agent at the mall again and then they were surprised to see it rejected and I told them it's fine, I have other cards, no issues. They insisted to check and found out the reason was 'Customer Name not in Database'. They said this is something minor, based on my credit history and everything else, they said we can guarantee this will not happen again. At this point of time, me being completely unaware of the any actual enquiries in the past one month, said okay fine, proceed. So 3 enquiries in the last 30 days spoiled it for me. With just this last one being legitimate a far as I can see. Should have probably said no to this

 

[Slayer]

Hello, I had applied for a SBI Vistara card via an agent at the mall. This was stuck in Chennai for close to 2 months and I followed up in Sept with a mail where they finally said we will revert in 11 days and ultimately rejected. For the same application, there was a CIBIL enquiry in July and September? Can one of them be removed and who should I contact?

Also, somewhere in the last week of Sept. I got multiple calls from Indusind asking me to take their pre approved LTF Legend card on the basis of my spends on Indusind Debit/Easy Diner CC. I checked with them if this is pre approved/there won't be any credit enquiries and they said 'Sir its pre approved'. So I told them to proceed with this and got the card in a week. Now when I checked my report, they had also checked in CIBIL for issuing this. I would have not even taken card had I known pre approved will require CIBIL checks. Any way to fix this?

P. S. Another reason for decline. I crossed the agent at the mall again and then they were surprised to see it rejected and I told them it's fine, I have other cards, no issues. They insisted to check and found out the reason was 'Customer Name not in Database'. They said this is something minor, based on my credit history and everything else, they said we can guarantee this will not happen again. At this point of time, me being completely unaware of the any actual enquiries in the past one month, said okay fine, proceed. So 3 enquiries in the last 30 days spoiled it for me. With just this last one being legitimate a far as I can see. Should have probably said no to this

5 enquiries in the last month, score moved up by 2 points

From 766 to 768

 

[Predator]

Inquires don't matter much. There must be some other reason for drop in score

 

[arjun697]

5 enquiries in the last month, score moved up by 2 points

From 766 to 768

Ahaha! Now I guess I'm doubting too, maybe it's not the enquiries itself that affected the score drop. Same 2 points down.

 

[BMR]

Hello, I had applied for a SBI Vistara card via an agent at the mall. This was stuck in Chennai for close to 2 months and I followed up in Sept with a mail where they finally said we will revert in 11 days and ultimately rejected. For the same application, there was a CIBIL enquiry in July and September? Can one of them be removed and who should I contact?

Also, somewhere in the last week of Sept. I got multiple calls from Indusind asking me to take their pre approved LTF Legend card on the basis of my spends on Indusind Debit/Easy Diner CC. I checked with them if this is pre approved/there won't be any credit enquiries and they said 'Sir its pre approved'. So I told them to proceed with this and got the card in a week. Now when I checked my report, they had also checked in CIBIL for issuing this. I would have not even taken card had I known pre approved will require CIBIL checks. Any way to fix this?

P. S. Another reason for decline. I crossed the agent at the mall again and then they were surprised to see it rejected and I told them it's fine, I have other cards, no issues. They insisted to check and found out the reason was 'Customer Name not in Database'. They said this is something minor, based on my credit history and everything else, they said we can guarantee this will not happen again. At this point of time, me being completely unaware of the any actual enquiries in the past one month, said okay fine, proceed. So 3 enquiries in the last 30 days spoiled it for me. With just this last one being legitimate a far as I can see. Should have probably said no to this

Credit enquiries is over hyped. It has low impact on score.timely Payment is the single big factor for a good score.

 

[zealot]

Credit enquiries is over hyped. It has low impact on score.timely Payment is the single big factor for a good score.

Yes, I have around 5 enquiries every month for the last 5 months. My CIBIL was just fluctuating between 765 to 775.

 

[akshayhs]

What's your latest score? And how much was it previously?

 

[arjun697]

What's your latest score? And how much was it previously?

It's down from 807 to 805.

 

[akshayhs]

It's down from 807 to 805.

Bruh! 😒 This is basically showoff at this point.

 

[arjun697]

Bruh! 😒 This is basically showoff at this point.

Ahaha! But this an unnecessary loss! It went down from 819 in the past few months all because I got interested in CC again. It remained high since I had 3-4 inactive years which they counted as months of successful payments.
My only proper use in the past was maxing out my HDFC to buy a phone on EMI in 2016.

 

[prc1990]

Yes, I have around 5 enquiries every month for the last 5 months. My CIBIL was just fluctuating between 765 to 775.

Even if your score doesn't take a hit inspite of having back to back enquiries, for a lender it can still be a cause of concern and can be rejected as a consequence as it opens up the brutal fact that how much credit hungry you are 😛.

 

[zealot]

Even if your score doesn't take a hit inspite of having back to back enquiries, for a lender it can still be a cause of concern and can be rejected as a consequence as it opens up the brutal fact that how much credit hungry you are 😛.

😂 Yeah you are right. But i just applied for CC in Every Bank and leave it in the middle. Got few approved. So that they will offer other cards in future. Now I don't apply for anything. 😂

 

[alex]

Hey All, My CIBIL score fell by 31 points in 30Oct2022 compared to 1Sep2022. In this period, SBICard made 2 CC enquiries of ₹ 100 each, ICICI CC enquiry of ₹ 1,00,000, Axis CC enquiry of ₹ 10,000 and the great PNBCard made one CC enquiry for ₹ 16,25,500 !!! All of these are genuine CC enquiries related to CC applications but the PNBCard enquiry amount makes no sense.

Can anyone guide how to correct this?

@TechnoFino @bhavyegoel

 

[CMG]

Hey All, My CIBIL score fell by 31 points in 30Oct2022 compared to 1Sep2022. In this period, SBICard made 2 CC enquiries of ₹ 100 each, ICICI CC enquiry of ₹ 1,00,000, Axis CC enquiry of ₹ 10,000 and the great PNBCard made one CC enquiry for ₹ 16,25,500 !!! All of these are genuine CC enquiries related to CC applications but the PNBCard enquiry amount makes no sense.

Can anyone guide how to correct this?

@TechnoFino @bhavyegoel

It will be back in 2 to 3 months.

What is your "Current balances" for sept vs oct?

What is your utilization % in sept vs oct?

 

[TheTrickySid]

It's down from 807 to 805.

Can't beleive ppl complaint for such score drop.

 

[alex]

It will be back in 2 to 3 months.

What is your "Current balances" for sept vs oct?

What is your utilization % in sept vs oct?

I hope it will be back soon as I have seen PNBCard CIBIL enquiries are done for gross salary. Card utilization is less than 10% of sanctioned limit and no much change in "Current Balances"from Sept vs Oct.

 

[Bhaskar]

Do anyone observed huge drop in credit score for the past few days.? Score dropped around 30 points for no reason, yet graph at the bottom of screen still pointing at old score place. Not sure whether technical glitch or something happened.

Score shouldn't dropped this much because no late, no delay, no CUR, just 3 enquiries in 3 months. I hope its a technical glitch, checking if anyone observed similar pattern or issue.

My score dropped by 24 points after enquiry from Axis Bank. Don't know if that's relevant to yours.

 

[hks789]

Do anyone observed huge drop in credit score for the past few days.? Score dropped around 30 points for no reason, yet graph at the bottom of screen still pointing at old score place. Not sure whether technical glitch or something happened.

Score shouldn't dropped this much because no late, no delay, no CUR, just 3 enquiries in 3 months. I hope its a technical glitch, checking if anyone observed similar pattern or issue.

Mine reduced to 772 from 796 - Not in a single drop
796 -> 787 Utilisation - 4 to 26
787 -> 780 SC Ultimate rejection + Utilisation 26-29 + 3 more enquiries
Applied and got Mangus after this

780 -> 772 - Utilisation 26 to 33%

6 enquiries last month.
Utilisation shot upto 33% from 4-5%

 

[alex]

Do anyone observed huge drop in credit score for the past few days.? Score dropped around 30 points for no reason, yet graph at the bottom of screen still pointing at old score place. Not sure whether technical glitch or something happened.

Score shouldn't dropped this much because no late, no delay, no CUR, just 3 enquiries in 3 months. I hope its a technical glitch, checking if anyone observed similar pattern or issue.

Mine also fell by 31 points. As detailed in my earlier post below

Post in thread 'CIBIL score down due to multiple surprise enquiries'
https://www.technofino.in/community...o-multiple-surprise-enquiries.3490/post-66358

 

[alex]

For me 3 new accounts in 3 months and enquiry amount is 100-1000. It shouldn't reduce 30 points as per previous experience with similar pattern.

Have to confirm with some third party apps that provide Cibil whether it is glitch or something happened.

In my case no late, no delay, no CUR, just 3 entries in 3 months (had like that previously too).

I don’t think its a glitch if you see it in the complete CIBIL report as was my case. Its also possible that CIBIL changed their score algorithm and we are getting punished. Will mail cibil and check.