CIBIL Score Drop 37 point - 781 to 746 (feb 25 to mar 25) -hdfc bank, -gold loan

[Rocky bhai 007]

Dear all,

Iam planning for take home loan in March, but currently iam very Dipressed after this score Drop.

Iam share some timeline for better Understanding-

5/01/25 - take gold loan (secured) and choose full payment after 1 years (basic+interest) not monthly interest pay. ( no ciblil enquiry done till)

13/01/25 - apply hdfc CC ( CIBIL enquiry done)

31/01/25 - gold loan bank charge one month interest approx 700 rs. As mentioned- Part Period Interest in statement ( iam not aware this before 23/02/25)

08/02/25 - hdfc CC was approved ( this date mentioned as Date Opened / Disbursed in CIBIL report)

14/02/25 - gold loan interest 700 rs. Amount final due date after it is converted in Over
Due ( still iam not aware this before 23/02/25)

23/02/25 - iam received text msg a side from gold loan bank - Dear Customer, Overdue/Default in your a/c no XXXX as on 14/02/2025 is reported to Credit Information Company. This is for your information.
then iam check bank app and shocked after iam call bank person for this because we choose one time pay after but told me to pay this overdue amount then iam immediately pay.( not give me any assurance for not reporting in CIBIL this)

23/02/25 - iam received hdfc CC and do first transaction. ( this date mentioned as Date Reported And Certified in CIBIL report)

Today iam checking my CIBIL score by GPay again like 5 Feb and see this huge drop for me( Screenshot attached) noted 2 point
1. Hdfc bank CC reported ( it not maintioned in lastly 5 Feb CIBIL repot)
2. Gold loan bank report 700rs. As Amount Overdue but not report in Payment History section it still show as normal - STD ( wheares iam 9 days late pay)

Then Iam thinking 3 point for root cause
1. Due to HDFC bank report CC in CIBIL
2. Due to gold loan bank Invalid Part Period Interest charged as Due and after Overdue
2. Due to gold loan bank do Wrong & invalid Amount Overdue Information Reporting to CIBIL.

Then first iam mail to hdfc bank grievance.redressa he replied but not accepted that he affected my credit score. (Our Both mail Screenshot attached)

Then second iam trying to file dispute though CIBIL portal but iam not find any section select as HDFC Bank do responsible for this file Complaint on the behalf. ( But this CIBIL potal Claim is mainly transfer request to Financial Institutions. Not do without ba k input but in doubt for Credit Score Calculation by CIBIL)

Then third iam file dispute though CIBIL portal to gold loan bank and iam only able to edit & convert 700 Overdue amount to 0 and last payment date 31/01/25 to 23/02/25( because iam pay this 700 rs. In 23/02/25)

But still chances of gold loan bank not accept their mistake because they may be not think root cause mainly why 700 due and after Overdue.

Forth iam trying to compilent in gold loan bank Portal with the CIBIL dispute ID with all fact related to due amount. (But FYI iam planning Home Loan taken from this bank for lower interest rates and good behavior with bank person, that is one of the reasons iam hesitate to file this complaint or not)

Pls guide What is possible reason and what I do further??

Dear all the Expert @TechnoFino @SSV @helloworld @kuchbhi @aniketkr.sharma @Vasuki pls guide for right way what action iam taken and increases atleast 4 Point up then my score in reach 750 till 1 April or earlier 15 March 😟

 

[SplendorSuperman]

Your main culprit is Overdue reported to CIBIL.
Rectify that and your score may recover !

 

[helloworld]

Last screen might be the reason, and u have to request bank to remove as goodwill. Otherwise, it is what it is.

Note: It will report as default and various other metrics based on time period it reported, if it is reported within 5 days after due date (due to latest update that banks do update every 2 weeks) then this month u won't observe those tags. Next month it will be the number of days its overdue.

So, deal with it and try to minimize it. Use CIBIL score simulator for impact.

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Note: First mail will get same response, u have to show persistance and try multiple until either it got resolved or u exhausted ur tries.

then iam check bank app and shocked after iam call bank person for this because we choose one time pay after but told me to pay this overdue amount then iam immediately pay.( not give me any assurance for not reporting in CIBIL this)

use this if u have any proofs and convey them ur not aware or something.. anything ultimately try to remove that overdue amount reported to CIBIL and ask them not to report them.

 

[helloworld]

And, it won't recover much in this month.. so u have to postpone a little ur plans. Sad but truth.