CIBIL score dropped by 22 points

[Quantum]

Yesterday, the score was 796.
No bill due, nothing. In fact, the last remaining bill was overpaid by Rs. 2 before the bill generation date.
I refreshed the report today, and the score is 774.

Nothing in Alerts section, no SMS from CIBIL regarding any new addition/deletion/update/enquiry.

Only one thing that I could observe is that I have not done any transaction on any of my credit cards post 26th Nov. However, the statement generated for the period 17 Nov to 17 Dec does contain some expenses and bill payment transaction.
In the payment history of cards, the last month is still November. So, it isn't like something was reported for December and that took it down.

Not sure what caused the score to reduce.

Definitely not the surprise I was expecting from 2024 *sigh*

 

[CardGame]

Update: No change in Cibil score(per bajaj website) but have observed a high bump in utilization percentage which aint correct since i cleared most of my payment before due date and was expecting decrease in this category.however will pull another after 7th to cross check.

Utilisation for most banks gets reported on last day of every month. So it's about how much outstanding u had on last day of month. For full list refer to cibil sub-section of the forum.

 

[poseidon07]

My CIBIL dropped 10 points from 804 to 794. Is this normal? Nothing out of the ordinary, all dues paid, no new CC, Util 4%, Loans etc.

 

[vinrey287]

From 770 to 758 then up by 6 points in two days back.. However paisabazaars report shows more than 770 in Jan. Not sure if cibil is showing incorrect (temporarily)

 

[Nishan11]

Mine cibil was dropped by 1 point few days back but back to normal now with1 point increase 😂

 

[Pravas]

Today credit limit dropped by 10 from 793 to 783. Two new updates

1. ICICI reported Amazon pay card with 25L
2. Axio loan account closed (Amazon pay later)

One doubt I have is as ICICI is reporting 2 entries one for core card and one for Amazon pay credit card both with 25L limit, will that impact CIBIL as it may think that I am over leveraged ?

Same issue with HDFC DCB and tata nue which share the limit but 2 entries in CIBIL report each with 8L limit.

Curious to know what could be the reason for this score drop. Any insight on this is greatly appreciated.

 

[vega]

Today credit limit dropped by 10 from 793 to 783. Two new updates

1. ICICI reported Amazon pay card with 25L
2. Axio loan account closed (Amazon pay later)

One doubt I have is as ICICI is reporting 2 entries one for core card and one for Amazon pay credit card both with 25L limit, will that impact CIBIL as it may think that I am over leveraged ?

Same issue with HDFC DCB and tata nue which share the limit but 2 entries in CIBIL report each with 8L limit.

Curious to know what could be the reason for this score drop. Any insight on this is greatly appreciated.

Two reportings, one each for core and co-branded, with same limit. That's correct.

Question of over leveraged depends on your profile consisting of your income.

 

[Pravas]

Will CIBIL consider both the core card and co-brandrd card credit limit separately (25+25L) or just 25L as actually it's shared limit from the bank.

 

[CardGame]

Will CIBIL consider both the core card and co-brandrd card credit limit separately (25+25L) or just 25L as actually it's shared limit from the bank.

If reported separately then credit bureaus consider it as separate. So that's a problem if we do not have substantial income to support that much exposure to unsecured credit

 

[Pravas]

I have substantial income to back this up, but how CIBIL knows about my income, who is reporting that to CIBIL and where is that information in CIBIL report?

 

[CardGame]

I have substantial income to back this up, but how CIBIL knows about my income, who is reporting that to CIBIL and where is that information in CIBIL report?

Cibil don't store that info. When u apply cards u provide that to banks which they match with your exposure

 

[Pravas]

So then how can be the score be impacted due to addition of new card with a large credit if CIBIL does not know that what my income is.

 

[HumorSimpson]

So then how can be the score be impacted due to addition of new card with a large credit if CIBIL does not know that what my income is.

2 to 3...

 

[CardGame]

So then how can be the score be impacted due to addition of new card with a large credit if CIBIL does not know that what my income is.

Cibil score has nothing to do with your income. And the drop in your case is temporary and will get back to the same old score in few months.

 

[ALOAK]

As long as it's above 750-760 range do not worry much about score value. It's all about credit age and ontime payments in the long run.

That is not the way we have to keep quite there should not be a drop in score for non usage or closure of accounts. I have seen even in my cibil drop suddenly after few days titanium comes back

 

[Survivor35]

Here's my observation after recent cibil pull,no change in score,I have cleared dues of cc before statement date and anticipated a hike of atleast 10 points but ICICI reported Oct dues in Dec which did impact.Another Aspect thats pulling my score is loan on cc on one of cards which shows individual utilization at 70% .

Paytm postpaid was closed in mid of Decemeber even that didnt reflect.

 

[COmM4nDer]

CIBIL reduced from 793 to 782. Utilisation 2%. Wierd stuff from CIBIL.

 

[SSV]

Here's my observation after recent cibil pull,no change in score,I have cleared dues of cc before statement date and anticipated a hike of atleast 10 points but ICICI reported Oct dues in Dec which did impact.Another Aspect thats pulling my score is loan on cc on one of cards which shows individual utilization at 70% .

Paytm postpaid was closed in mid of Decemeber even that didnt reflect.

Even if you have a single account with even Re 1 outstanding balance it won't incerease by 10.. so, if you have a loan with some outstanding amount it won't increase your score by 10.. All open accounts must have 0/ -ve to get the boost..

 

[D₹V]

Even if you have a single account with even Re 1 outstanding balance it won't incerease by 10.. so, if you have a loan with some outstanding amount it won't increase your score by 10.. All open accounts must have 0/ -ve to get the boost..

True as f.

 

[vega]

Even if you have a single account with even Re 1 outstanding balance it won't incerease by 10.. so, if you have a loan with some outstanding amount it won't increase your score by 10.. All open accounts must have 0/ -ve to get the boost..

You always suggest 0 or -ve, but truth be told I haven't tried. Should I try? Mine currently is 783.

 

[Survivor35]

True as f.

The key point here is Atleast 75% contribution is from my citi bank(loan on card) Which has being weighing my score a lot.Neither can i make a partial payment or close it,ever since the migration to AXIS no LE too which is hurting a lot(Recently i got below email from them and still they dint increase the limit) .
There are 4 entries for postpe,2 couple for mobikwik zip& 1 Paytm postpaid(which has been closed in dec & NOC received). If closing all of these would help increasing score.I will do that too