Experian Credit Score is 573 whereas CIBIL Credit Score is 780, how and why?

[sahil1033]

I check my Experian and CIBIL credit score on a monthly basis and I've found that for some reason my Experian credit score is way too low, it's 573 whereas CIBIL credit score is 780.

Because of this reason, my application for Federal Bank Celestia CC was rejected due to very low Experian credit score.
The data seems to be correct and I've NIL late payments in Experian too. Usually Experian credit score is way higher than CIBIL credit score but it's quite contradictory in my case.

Any idea how to get it rectified as it's seriously damaging my new credit card application?

P.S. I had 573 credit score for a long time. I had complained them in August 2024 and in September 2024, credit score bumped to 750 and then in November 2024 onwards, it's back to 573. This is very odd and I'm suffering because of this.
I'm thinking to take it up with RBI Ombudsman but it would be on what grounds, certainly some miscalculation seems to be the culprit here.

 

[newinnov]

This is for identity theft purpose. Like all of sudden someone took loan on your PAN and it report in credit reports, then to analyze its as one of the issue.

Not for score computation.

Yes, it does at least in Experian
Read last para of this report -

A tiny error in your address could wreck your credit rating

If the details recorded by Royal Mail do not match other databases you could soon find yourself being treated like a serial debtor

www.theguardian.com

 

[helloworld]

Yes, it does at least in Experian
Read last para of this report -

A tiny error in your address could wreck your credit rating

If the details recorded by Royal Mail do not match other databases you could soon find yourself being treated like a serial debtor

www.theguardian.com

India everything different. They all talk about it in the context of "if any changes in the address then someone else using your PAN" which is problematic because it might affect due to non-payment, excessive credit etc. but there is also possibility that "we can update address as many times as we like using our PAN" which is not problematic because we still pay ontime, moderate credit exposure.

At the end of the day, payment related only affect credit score. Its just my understanding based on these posts, and I couldn't find same anywhere in India websites for credit report perspective. And I might be wrong!

What Affects Your Credit Scores? – Experian - Experian

Learn about what factors affect your credit scores, steps you can take to improve your credit and how to check your credit score for free.

www.experian.com

 

[Anupama_Jha]

Yes, it does at least in Experian
Read last para of this report -

A tiny error in your address could wreck your credit rating

If the details recorded by Royal Mail do not match other databases you could soon find yourself being treated like a serial debtor

www.theguardian.com

US case. Any Indian reference!!!

 

[hitirfan]

Experian shows me Address Mismatch Derogatory Remarks

 

[hitirfan]

@sahil1033 check on One Score app, maybe they show any remarks

 

[helloworld]

View attachment 76952 Experian shows me Address Mismatch Derogatory Remarks

Its not experian but its 'OneScore' or whatever app shows that. OneScore also shows if no credit limit reported by any card (earlier HDFC, and current and still AMEX Gold) it defaults to some '25000' and calculate other computations accordingly (like high credit exposure etc. its not true right?). Its never official and limited to 'OneScore' or whatever app you're viewing this report.

 

[Anupama_Jha]

View attachment 76952 Experian shows me Address Mismatch Derogatory Remarks

Ur experian score?

 

[Strange]

All home and office address from all active cards/loan!!

Where did you get such CIBIL report?

 

[helloworld]

I check my Experian and CIBIL credit score on a monthly basis and I've found that for some reason my Experian credit score is way too low, it's 573 whereas CIBIL credit score is 780.

Because of this reason, my application for Federal Bank Celestia CC was rejected due to very low Experian credit score.
The data seems to be correct and I've NIL late payments in Experian too. Usually Experian credit score is way higher than CIBIL credit score but it's quite contradictory in my case.

Any idea how to get it rectified as it's seriously damaging my new credit card application?

If you have previous month report (or somewhere nearby months where score high) then do share previous month and current month reports to Consumer.Support@in.experian.com and ask reason for score reduction.

You'll get response in about 2 weeks (takes time) with some insights.

 

[Anupama_Jha]

Where did you get such CIBIL report?

Fetched thru airtel app.
.
.
.
.
.
.

*PRIVACY* I am selling it willingly.

 

[Strange]

Fetched thru airtel app.
.
.
.
.
.
.

*PRIVACY* I am selling it willingly.

I am getting CRIF credit report through the airtel app.

 

[sahil1033]

Make sure your address from all active a/c matches word to word, thats one of the flawed criteria for score reduction

I didn't want to believe in this but I did have a feeling it could be the only reason because the addresses are multiple with minor variation.

I don't even know how to get it rectified. If this is the reason of such low score, it would be a task in itself because I need to reach out to the bank to correct the address and update to the bureau (Experian in this case) and I don't know how much time it would take to get both residence and office address corrected and keep in sync.

This is really stupid of Experian if they've decreased the score to this low as I've already mentioned, late payments are ZERO, for all the payments done till date and credit utilization ratio is too low as my combined credit limit is more than 30 lakhs.

For address mismatch, bureau will obviously say to reach out to the bank and get it corrected and word by word, I need to convey the same to all the banks I hold card with 🙄

One more update though, I had 573 credit score for a long time. I had complained them in August 2024 and in September 2024, credit score bumped to 750 and then in November 2024 onwards, it's back to 573. This is very odd and I'm suffering because of this.
I'm thinking to take it up with RBI Ombudsman but it would be on what grounds, certainly some miscalculation seems to be the culprit here.

 

[real_name_hidden]

I didn't want to believe in this but I did have a feeling it could be the only reason because the addresses are multiple with minor variation.

I don't even know how to get it rectified. If this is the reason of such low score, it would be a task in itself because I need to reach out to the bank to correct the address and update to the bureau (Experian in this case) and I don't know how much time it would take to get both residence and office address corrected and keep in sync.

This is really stupid of Experian if they've decreased the score to this low as I've already mentioned, late payments are ZERO, for all the payments done till date and credit utilization ratio is too low as my combined credit limit is more than 30 lakhs.

For address mismatch, bureau will obviously say to reach out to the bank and get it corrected and word by word, I need to convey the same to all the banks I hold card with 🙄

Address should not be an issue. I've variations of my current address being reported. I've also seen permanent address and office address being reported in Experian.
All in different city.

I'll pull my latest report just to see if they've made any changes in the score

 

[sahil1033]

I keep physical credit reports documented and just check the pattern ... at the end of file name, credit score is mentioned and the format is YYYY-MM-DD



Report fetched on 4th September 2024 had credit score of 750 but it again went back to 573, no idea how and why.

 

[newinnov]

I keep physical credit reports documented and just check the pattern ... at the end of file name, credit score is mentioned and the format is YYYY-MM-DD

View attachment 76953

Report fetched on 4th September 2024 had credit score of 750 but it again went back to 573, no idea how and why.

Then first ask them the reason for such steep decline. Address is one of the factors not the only factor!

 

[hitirfan]

Ur experian score?

780 . .

 

[S U D O]

the addresses are multiple with minor variation.

Address has ZERO impact on the credit score.
This score could be due to some mis-reporting by a bank in your credit part/section.
Check thoroughly!!

I keep physical credit reports documented and just check the pattern ... at the end of file name, credit score is mentioned and the format is YYYY-MM-DD

View attachment 76953

Report fetched on 4th September 2024 had credit score of 750 but it again went back to 573, no idea how and why.

As per this, your score was fine till April'24, then some mis-reporting must have happened in April-May duration.

 

[newinnov]

I request OP to either fix his statement or mods to correct it, as OP still unable to prove this. @vaibhav111 @BVC

US case. Any Indian reference!!!

Experian is not Indian either...

Bleach for your eyes is already present here -

Yes, it does at least in Experian
Read last para of this report -

A tiny error in your address could wreck your credit rating

If the details recorded by Royal Mail do not match other databases you could soon find yourself being treated like a serial debtor

www.theguardian.com

If you have further dispute, with statements I made, then report it to 'The Guardian' for false reporting not me!
Par wo tum jaise se na ho payega...

In your free time read about 'address discrepancy' ...
Also, having multiple address is different than having 'address discrepancy'!

You have already disliked my statement; your part is done! now move on...

P.S. - I won't entertain your rant any further. I was just trying to help OP @sahil1033