Cibil score jumpy

[CardShard]

My cibil had been pretty constant at 785. Last month it jumped to 795. This month it's back at 785. What's up?

I took (upgraded) one card in the last month. Ok. I already had 8-9 cards, added one. Shouldn't be a huge deal.

If cibil is this jumpy, it's rather useless in its function.

 

[simplegarv]

My cibil had been pretty constant at 785. Last month it jumped to 795. This month it's back at 785. What's up?

I took (upgraded) one card in the last month. Ok. I already had 8-9 cards, added one. Shouldn't be a huge deal.

If cibil is this jumpy, it's rather useless in its function.

This is totally normal. CIBIL will hover around in this range only and after 10-15 years of credit history your CIBIL will go in 800+.

 

[shutapdiya]

there can be multiple factors like

1. Check the utilization ratios for both months on all cards

2. By any chance any of your CC issuer reported late payment

3. though you got 1 card in last month, have you applied for more than one? (might have added inquiries on your cibil)

4. Even LE request with some banks add Inquiry on CIBIL leading some reduction

etc etc

go thoroughly through both reports and evaluate

 

[deep@vie]

Late payment can't be there as it reduces CIBIL by around 70 points

there can be multiple factors like

1. Check the utilization ratios for both months on all cards

2. By any chance any of your CC issuer reported late payment

3. though you got 1 card in last month, have you applied for more than one? (might have added inquiries on your cibil)

4. Even LE request with some banks add Inquiry on CIBIL leading some reduction

etc etc

go thoroughly through both reports and evaluate

 

[shutapdiya]

Late payment can't be there as it reduces CIBIL by around 70 points

I did not know that...

70 pts is too much...

 

[deep@vie]

I did not know that...

70 pts is too much...

Missing a payment is also a big thing

 

[shutapdiya]

Missing a payment is also a big thing

Happened with me once

Got late by 1 day for Amex in 2020 but amex was generous to not report that on cibil also they reversed the charges as well for the late payment

 

[deep@vie]

Happened with me once

Got late by 1 day for Amex in 2020 but amex was generous to not report that on cibil also they reversed the charges as well for the late payment

3 Day grace period is there after due date

 

[deep@vie]

Happened with me once

Got late by 1 day for Amex in 2020 but amex was generous to not report that on cibil also they reversed the charges as well for the late payment

Every bank reverses first time late fee charges even sbicard which is one of the worst in these matters.

 

[SSV]

I did not know that...

70 pts is too much...

If you say again 70 too much, they will even reduce by 100.. 😉 😉
BTW, late payment is a massive thing

 

[deep@vie]

Yes, I heard around 70 to 110

If say again 70 too much, they will even reduce 100.. 😉 😉
BTW, late payment is a massive thing

 

[cardex]

Happened with me once

Got late by 1 day for Amex in 2020 but amex was generous to not report that on cibil also they reversed the charges as well for the late payment

is partial payment or min due payment also counts in late payments?

 

[shutapdiya]

is partial payment or min due payment also counts in late payments?

No idea bro

@deep@vie @ssv can confirm

 

[deep@vie]

is partial payment or min due payment also counts in late payments?

If min amount is paid then it won't be reported to CIBIL but bank will charge the interest on total outstanding amount.

 

[SSV]

is partial payment or min due payment also counts in late payments?

No idea bro

@deep@vie @ssv can confirm

If min amount is paid then it won't be reported to CIBIL but bank will charge the interest on total outstanding amount.

Yes, If you pay anything more than min due before due date, it won't be considered as late payment.
BUT
you will be charged somewhere between @36% to 50% or more p.a. interest rate on the outstanding from the beginning date of statement period. I.e. 50 days before the due date. and if you delay this by few more months it will accumulate and at one stage default will happen..
The banks love these kind of customers..

 

[SSV]

No idea bro

@deep@vie @ssv can confirm

BTW there are spaces in between my name. It was not tagged to me properly @S S V

 

[shutapdiya]

BTW there are spaces in between my name. It was not tagged to me properly @S S V

Tried doing that but it did not show your username bro

 

[SSV]

Tried doing that but it did not show your username bro

I just did that S S V...and @ just before first S

 

[deep@vie]

He's @S S V is mystery baba

Tried doing that but it did not show your username bro

 

[deep@vie]

It's not easy to catch him @S S V

He's @S S V is mystery baba