Cibil score dropped from 792 to 732

[tnk]

My credit score dropped from 792 to 732. In may or June 792 was the score and today it is 732. There is no change in my credit usage , regular payments without any delay. Same thing happened in January ,the drop was from 793 to 753 but after a few days it was 793 again. Then the forum was being flooded with similar stories. As the members said some software upgrade was the reason the. Now I don’t know why it’s happening again.Please share if any of you faced such issue and how you resolved it. Also no new cards were added recently

 

[helloworld]

5 of the 8 are more than year old
Dual card obtained in march 24 and axis Flipkart is nearing one year

Post in thread 'CIBIL score dropped after raising disputes'

Apr 15, 2024

Ok. In that case, it will be (2.94+2.94+1.43+1.43) Age of these cards are ( 6 months, 1.5 years,2 years 3 months, 2.5 years)
My other cards combined has a limit of 21 lacs as per CIBIL.

Cards 1 year - 3 years , it will be (2.94+1.43+1.43)/ (21+5.8) => approx 22%

Taking only cards 1-2 years , 2.94 / 26.8 => approx 11%

Disclaimer: This may not be accurate, but based on information obtained, and after personally experienced.. again not an accurate because maybe only those who designed that CIBIL algo can explain exact reason, so some inputs that I got..

(this is for your 'why'...

• helloworld

Post in thread 'Zero effect on the credit score despite multiple inquiries'

Sep 21, 2023

As far as I remember for long time score got stuck between 785 - 799 for muliple years.

Then all of sudden one fine month refresh it got reduced to 753 and stuck like that in 2 years.

Before considering all possibilities about this, things not changed before or after this score change:

- Utilisation always between 5-10%.
- Enquiries very moderate (max. 8 in one year other years 2 or 3 like that).
- No delays or disputes.

But when I saw reduced score, I observed one thing that is very strange coincendence that exactly year ago got approved two cards (till that time max. 1 or none).

And...

• helloworld

• 

It will recover in 3 months, mostly if no card completes 1 year during this time else expect slow movement between 750-770.