CIBIL Score- No need to worry Much, I guess

[Predator]

I came across this forum in July 2022 and as a result, got to know about many cards and applied for them. Some got approved and some were rejected.
So, I did a total of 11 inquiries in the last 4 months and my CIBIL score always remained around 740 or 750 whenever I used to check earlier. Today I checked and it's 792.
My point is one should not fear credit inquiries much and also I remember reading somewhere that credit inquiry with consent does not have any effect on the score.






Update:
Apart from this, I noticed something unusual in my report. My income is reported as around 30 crores.
Is it some sort of error? Should I be worried about it and highlight the issue or ignore it?

 

[hks789]

I have around 29 enquiries for last 3 years. I too had wrong income report like 10 crores when I took a loan from HDFC but it was rectified automatically after 1-2 months. If you still see the error after sometime, find out who reported it and contact them.
My CIBIL is now around 795, no issues so far.

 

[Chaitanya-a]

I came across this forum in July 2022 and as a result, got to know about many cards and applied for them. Some got approved and some were rejected.
So, I did a total of 11 inquiries in the last 4 months and my CIBIL score always remained around 740 or 750 whenever I used to check earlier. Today I checked and it's 792.
My point is one should not fear credit inquiries much and also I remember reading somewhere that credit inquiry with consent does not have any effect on the score.

View attachment 5605
View attachment 5606



Update:
Apart from this, I noticed something unusual in my report. My income is reported as around 30 crores.
Is it some sort of error? Should I be worried about it and highlight the issue or ignore it?


View attachment 5607

Lucky you! My CIBIL got around 20+ points reduction after this much enquiries. No late payment & less than 10% credit utilisation.

 

[Predator]

Lucky you! My CIBIL got around 20+ points reduction after this much enquiries. No late payment & less than 10% credit utilisation.

Maybe consent has some role to play here. Your inquires may be via Agents without need of any OTP/authentication

 

[CMGCMG is verified member.]

I came across this forum in July 2022 and as a result, got to know about many cards and applied for them. Some got approved and some were rejected.
So, I did a total of 11 inquiries in the last 4 months and my CIBIL score always remained around 740 or 750 whenever I used to check earlier. Today I checked and it's 792.
My point is one should not fear credit inquiries much and also I remember reading somewhere that credit inquiry with consent does not have any effect on the score.

View attachment 5605
View attachment 5606



Update:
Apart from this, I noticed something unusual in my report. My income is reported as around 30 crores.
Is it some sort of error? Should I be worried about it and highlight the issue or ignore it?

That income thing is from BOB. For me it was reported as 50cr. Now it is gone from the report.

 

[Rohit75]

112 enquiries in last 3 years.

Cibil is 794..

 

[Predator]

That income thing is from BOB. For me it was reported as 50cr. Now it is gone from the report.

They report income in crores and provides limit in thousands.

 

[Mritunjay]

9 credit enquiries in 1 month and cibil came down by 2 points from 765 to 763. Went up by 1 to 764 in just one month.

 

[SunnyM]

I had 9 enquiries from June till now and my cibil is 761 at the moment. All of my cards are approved except BOB which is still pending. But some of the enquiry amounts are much higher than others. I am guessing the higher the enquiry amount, more the cibil goes down. BOB has made an enquiry of amount 50000/-. I don't know if it's the case with everyone or just me.

Edit : Bob card approved just now. 😊

 

[Slayer]

5 enquiries in the last month score moved up by 2 points from 766 to 768

 

[Predator]

I had 9 enquiries from June till now and my cibil is 761 at the moment. All of my cards are approved except BOB which is still pending. But some of the enquiry amounts are much higher than others. I am guessing the higher the enquiry amount, more the cibil goes down. BOB has made an enquiry of amount 50000/-. I don't know if it's the case with everyone or just me.

I guess it's the same for everyone. Some inquiries here and there do not have much effect.

 

[Credit Karma]

I came across this forum in July 2022 and as a result, got to know about many cards and applied for them. Some got approved and some were rejected.
So, I did a total of 11 inquiries in the last 4 months and my CIBIL score always remained around 740 or 750 whenever I used to check earlier. Today I checked and it's 792.
My point is one should not fear credit inquiries much and also I remember reading somewhere that credit inquiry with consent does not have any effect on the score.

View attachment 5605
View attachment 5606



Update:
Apart from this, I noticed something unusual in my report. My income is reported as around 30 crores.
Is it some sort of error? Should I be worried about it and highlight the issue or ignore it?


View attachment 5607

How old is your oldest credit account?

 

[NewUser]

I came across this forum in July 2022 and as a result, got to know about many cards and applied for them. Some got approved and some were rejected.
So, I did a total of 11 inquiries in the last 4 months and my CIBIL score always remained around 740 or 750 whenever I used to check earlier. Today I checked and it's 792.
My point is one should not fear credit inquiries much and also I remember reading somewhere that credit inquiry with consent does not have any effect on the score.

View attachment 5605
View attachment 5606



Update:
Apart from this, I noticed something unusual in my report. My income is reported as around 30 crores.
Is it some sort of error? Should I be worried about it and highlight the issue or ignore it?


View attachment 5607

Which app are you using here?

 

[Predator]

How old is your oldest credit account?

2019

 

[Predator]

Ama

Which app are you using here?

Amazon app

 

[Pujaari]

Your score will take a hit if its above 800(will bring it down below that if tou have too many enquiries) if its below that then enquiries dont affect that much

 

[Rohit75]

I had 9 enquiries from June till now and my cibil is 761 at the moment. All of my cards are approved except BOB which is still pending. But some of the enquiry amounts are much higher than others. I am guessing the higher the enquiry amount, more the cibil goes down. BOB has made an enquiry of amount 50000/-. I don't know if it's the case with everyone or just me.

Edit : Bob card approved just now. 😊

Not necessary that higher amount enquiry will drag cibil down because last year I applied Car Loan of 10L but they enquired for 1Cr. No drag down of cibil for that.

 

[SunnyM]

Not necessary that higher amount enquiry will drag cibil down because last year I applied Car Loan of 10L but they enquired for 1Cr. No drag down of cibil for that.

Then I honestly don't know why my cibil never reaches 780 or above. The max it has reached was 773 .

 

[BlueFlash]

112 enquiries in last 3 years.

Cibil is 794..

What's the deal with 112 hard hits ? Why so many ?

 

[Slayer]

What's the deal with 112 hard hits ? Why so many ?

He's a gigachad