CIBIL Score massive drop from 802 to 721

[shutzz]

Hello!

SInce past 2 months my cibil was 802 but today it dropped to 721. Though there is no late payments or hard enquiry in last month, just my credit card utilization rose from 40% to 53%. Increase of 10% only. Could this be an error. If it is, please let me know how could i rectify it?
Need suggestions.

 

[VasukiVasuki is verified member.]

Hello!

SInce past 2 months my cibil was 802 but today it dropped to 721. Though there is no late payments or hard enquiry in last month, just my credit card utilization rose from 40% to 53%. Increase of 10% only. Could this be an error. If it is, please let me know how could i rectify it?
Need suggestions.

Buy Cibil subscription

How old is your cibil history

 

[shutzz]

Buy Cibil subscription

How old is your cibil history

Cibil history is more then 2 years.
But how cibil subscription will help?

 

[VasukiVasuki is verified member.]

Cibil history is more then 2 years.
But how cibil subscription will help?

2 year
802 is unreal

This will settle in 2-3 months u will be 760 range

 

[Yugi]

Cibil history is more then 2 years.
But how cibil subscription will help?

You can get a detailed report. It will help you understand if there are any issues that needs to be addressed by the banks.

 

[shutzz]

You can get a detailed report. It will help you understand if there are any issues that needs to be addressed by the banks.

I have checked the detailed report,only issue is that sbi credit card limit was used 53%. In previous months it was below 30%. But still 82 points down is not justified. What steps can i take?

 

[Garry]

CIBIL is doing some really weird sh*t. They reduced my score 10 points for utilization increase from 2% to 3% and even the cards they mentioned for the ratio increment in the alerts ,haven't been used at all since 10-11 months. I emailed to banks and CIBIL and no one has any clue as banks are asking for CIBIL report and in report there is nothing but in alerts section only. 😕

 

[shutzz]

2 year
802 is unreal

This will settle in 2-3 months u will be 760 range

802 can not be unreal, my score went to 824 3-4 months back. Just because i took a gold loan. I am not sure whether it is a glitch or not but when i took gold loan from mannpuram my cibil score went insane.

 

[magnusfan]

My CIBIL also dropped from 820 to 772 - I had just forgotten to pay my Amex by 2 days..wtf!

 

[shutzz]

My CIBIL also dropped from 820 to 772 - I had just forgotten to pay my Amex by 2 days..w

My CIBIL also dropped from 820 to 772 - I had just forgotten to pay my Amex by 2 days..wtf!

But normally there's a grace period of 3 days for credit card payment, for SBI atleast there is.

 

[magnusfan]

But normally there's a grace period of 3 days for credit card payment, for SBI atleast there is.

You are right - I just checked my Amex statement..It was 5 days delayed! But Amex had waived the late payment charges too!

 

[shutzz]

You are right - I just checked my Amex statement..It was 5 days delayed! But Amex had waived the late payment charges too!

You can also request them for goodwill gesture to remove the late payment entry from cibil. Most probaythey won't cinsider the request but there's no harm in requesting so. I did this thing with aditya birla capital and they removed late entry as out of 15 payment there was only one late payment.

 

[msd07]

I had 792 and credit card usage inceased significantly... almost 10X and also took personal loan... it dropped to 781..

 

[msd07]

My CIBIL also dropped from 820 to 772 - I had just forgotten to pay my Amex by 2 days..wtf!

wont bank send reminder messages?

 

[iSayyed]

Hello!

SInce past 2 months my cibil was 802 but today it dropped to 721. Though there is no late payments or hard enquiry in last month, just my credit card utilization rose from 40% to 53%. Increase of 10% only. Could this be an error. If it is, please let me know how could i rectify it?
Need suggestions.

It is possible that you either missed a payment or that the payment transfer you initiated failed. Do check your complete CIBIL report thoroughly. It might be an error, and it can be fixed. Ensure that there are no delays in your payments on your end, and request a manual review of your account with CIBIL.

Regarding the increase in credit card utilization by 13%, it is highly unlikely that your score would decrease by 80 points due to this change.

 

[magnusfan]

wont bank send reminder messages?

I think Amex is quite notorious on this - I only get a reminder message from them after 4-5 days of delay!

 

[Anupama_Jha]

Some issue. Its shouldn't have gone below 750

 

[HumorSimpson]

802 can not be unreal, my score went to 824 3-4 months back. Just because i took a gold loan. I am not sure whether it is a glitch or not but when i took gold loan from mannpuram my cibil score went insane.

Literally sone pe suhaag

 

[Dr.AMAN]

802 can not be unreal, my score went to 824 3-4 months back. Just because i took a gold loan. I am not sure whether it is a glitch or not but when i took gold loan from mannpuram my cibil score went insane.

It is not a glitch. Taking a secured loan (like gold/home loan) improves the credit mix and so increases cibil score. It indirectly tells Cibil that u have enough assets and thus less likely to default. On the other hand taking huge unsecured loans like PL/Education loan(without collateral) shows that u r not yet financially stable and decreases the Cibil score. I took a PL and my Experian dropped below 800 for the first time and not yet recovered above 800 despite preclosing the PL. So different types of loan have different effets on Credit score

 

[VasukiVasuki is verified member.]

802 can not be unreal, my score went to 824 3-4 months back. Just because i took a gold loan. I am not sure whether it is a glitch or not but when i took gold loan from mannpuram my cibil score went insane.

2 years 802 is bug 🐛 or short lived

There are atleast 10k ppl here with 4+ year without home loan all have
765-780 range