Hi everyone, I’ve noticed some new updates on CIBIL’s official website, which I want to share with you all. Recently, CIBIL has changed its scoring algorithm. Now, the way CIBIL scores are updated has been modified.
Interestingly, my CIBIL score recently increased by around 10 points, even though I didn’t make any changes to my credit profile. In fact, my credit card utilization increased, yet my score still went up. This makes me believe that after the RBI's recent updates, CIBIL has adjusted its scoring algorithm.
Recently, frequent updates caused significant fluctuations in CIBIL scores, so they might have revised their scoring pattern to stabilize it. However, this could impact loan and credit card approvals—banks that used to approve applications with scores around 750 may now require a minimum of 765 for approval.
This is a small change I’ve observed. If any of you have noticed similar shifts in your CIBIL score, feel free to share your experiences here. It will help us understand these changes better.
- A score between 748-764 is now considered average.
- A score between 765-777 falls under the good category.
- A score of 778 and above is classified as excellent.
Interestingly, my CIBIL score recently increased by around 10 points, even though I didn’t make any changes to my credit profile. In fact, my credit card utilization increased, yet my score still went up. This makes me believe that after the RBI's recent updates, CIBIL has adjusted its scoring algorithm.
Recently, frequent updates caused significant fluctuations in CIBIL scores, so they might have revised their scoring pattern to stabilize it. However, this could impact loan and credit card approvals—banks that used to approve applications with scores around 750 may now require a minimum of 765 for approval.
This is a small change I’ve observed. If any of you have noticed similar shifts in your CIBIL score, feel free to share your experiences here. It will help us understand these changes better.
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