Does Wrong/Low Income Affect CIBIL Score

[krishc]

Recently noticed that, in between last 1 month, some bank has reported my income as very low without any reason whatsoever.
Earlier my income used to be shown blank, now it shows a very low number, in fact less than 1/3rd of my aggregate Credit Limit.
Also in the same time my CIBIL has gone down from 793 to 759.
I'm thinking the wrong income could be the reason for the huge drop in score !!
Because there's no other factor to negatively influence score - Never missed a payment, credit utilisation below 10%, added only 1 card & 1 enquiry in the last 6 months, oldest card still active, no unsecured loans.

 

[zealot]

No idea, for me they reported my income as 2.3 Crores 😂😂

 

[Srini]

No idea, for me they reported my income as 2.3 Crores 😂😂

Where do we find Income info in CIBIL? My report always shows loan or CC accounts only.

 

[zealot]

Where do we find Income info in CIBIL? My report always shows loan or CC accounts only.

In Employment Information

 

[Sahilhenzy]

No idea, for me they reported my income as 2.3 Crores 😂😂

mine also 😂😁

 

[SunnyM]

My income shows blank now 😐 . But my cibil hasn't changed.

 

[zealot]

My income shows blank now 😐 . But my cibil hasn't changed.

Income have nothing to do with Cibil

 

[SunnyM]

Income have nothing to do with Cibil

I know but I still would rather have my income as 2 crores like you than being blank. 😅

 

[CMGCMG is verified member.]

I had 50cr for few months after applying for BOB cc. It's back to blank now.

 

[Wealth is my birth right!]

Income have nothing to do with Cibil

Cc approval without docs in some bank algorithms fetch this field
Got experienced by sbi and amex

 

[zealot]

Cc approval without docs in some bank algorithms fetch this field
Got experienced by sbi and amex

Okay, but income won't affect cibil right? 😅

 

[Wealth is my birth right!]

Okay, but income won't affect cibil right? 😅

Definitely no
Cibil is purely for liabilities not assets

 

[pxg]

BOB also put in my income as 48 lakhs. They add an extra zero to whatever income you put in the application.

If it's a very low income field you can file a dispute with CIBIL (if the data is false). I have corrected some info this way.

And generally low income will get you a lower credit limit, and therefore your utilization will be high, which does affect credit score.
My credit score was 800+ when my income was zero because I didn't use any credit. Now I am mostly using CC and it's dropped 50 points or so and hovers between 760-780

 

[Batmanbaba]

My income reported is 400 crore... Still banks are not giving me home delivery of their products.... Like intrest free loan.... Take loan without repayment obligation ... Unlimited limit credit card.... With no payment obligation.. Dont know what else could be done

 

[AsB]

They reported my income as Credit Card. They mean that I accept plastic cards as currency or something

 

[thanix]

My income reported is 400 crore... Still banks are not giving me home delivery of their products.... Like intrest free loan.... Take loan without repayment obligation ... Unlimited limit credit card.... With no payment obligation.. Dont know what else could be done

Hope income tax department is not looking at CIBIL and charging you income tax on this imaginary notional income 😜

 

[Wealth is my birth right!]

Hope income tax department is not looking at CIBIL and charging you income tax on this imaginary notional income 😜

In future it may happen lol
After 2030😜

 

[zealot]

In future it may happen lol
After 2030😜

Then I have to pay 300 times of my monthly salary to IT 😆

 

[AsB]

Then I should get an exemption, since I am only earning plastic cards

 

[Wealth is my birth right!]

Then I have to pay 300 times of my monthly salary to IT 😆

We have to invent a time machine for IT dept so that they will travel to 1980s and charge less to us 😋😁