Experian - New scoring method?!?!

[Andapally]

Is this same for everyone or only me?
Score reduced by 30 points.

 

[Deleted member 30446]

What the F**k? Mine fell a 110 points.

 

[Strange]

Is this same for everyone or only me?
Score reduced by 30 points.
View attachment 49667

Mine reduced by 76 points.

Edit: just checked latest score. It's reduced by 99 (76+23) points.

 

[ashwinkashwink is verified member.]

Mine reduced 830 to 722 😭🥲

Cibil 785 😶‍🌫️

 

[SSV]

I just refreshed it in Experian.. and my score went down to 810 from 813... just a meagre 3 points reduction.

Its fairly stable between 810 and 830 for the last one year.. you can see that in the graph below..

and CIBIL 802 ..

 

[Aniket]

Is this same for everyone or only me?
Score reduced by 30 points.
View attachment 49667

 

[Strange]

Mine reduced 830 to 722 😭🥲

Cibil 785 😶‍🌫️

That's Below 750. Did you miss any payment or your utilisation is very high?

 

[ashwinkashwink is verified member.]

That's Below 750. Did you miss any payment or your utilisation is very high?

N/A never missed a single payment and utilisation was always below 25%

 

[RAMESH BABU N]

My Experian score down by 23 points from 821. Now, it is SAME as CIBIL.

No activity initiated by me in the last 1 month.

So, they must be SYNCING their operations.

 

[VISION]

mine got reduced by 1 point from 782

 

[Rahul Gupta]

831 to 798. I can also see a credit iniquiry from ( Bureau Disclosure Report with Customized Match V3 ). Is it just me or all of u got this inquiry?

 

[SMS91]

My credit score reduced from 884 to 814 (Yesterday 884) with a new credit enquiry (today's date 13/04/24) from an institution name : Bureau Disclosure Report with customized Match V3

 

[SSV]

Is this same for everyone or only me?
Score reduced by 30 points.
View attachment 49667

YES..
It seems Experian have changed their Consumer Bureau Score version from V2 to V3..

It seems the new version V3 will more or less align with CIBIL score levels..
There will be no more above 850 scores in Experian under new system as per their population distribution shift projection...

Thank God, now Experian aligned with CIBIL and I previously oberved Equifax also aligned with CIBIL more or less...
Now CRIF is still the odd man out..

Apart from CRIF, all there bureaus aligned to same level of scoring .. thhey may fine tune a bit soon.

Now, in general any score above 750 is good and any score above 800 is excellent in all CIBIL, Experian and Equifax... ( if not right now, it seems they are working towards that goal.. Hopefully CRIF also joins the team...)...


Here are salient fatures of new V3 from Experian a.k.a Consumer Bureau Score V3

On an average there will be -50 points effect after the new version is implemented..

Most importatnly ,

This is how the new population distribution will work as compared to the old verion...

V2 : Pink Colour
V3: Violet Colour

Note: From now on, a very less people will have a score >825 ...
look at the below highlighted population distribution chart...
and look at violet color bars...Pink bars are the old version bars big contrast .. which is good...

 

[Strange]

831 to 798. I can also see a credit iniquiry from ( Bureau Disclosure Report with Customized Match V3 ). Is it just me or all of u got this inquiry?

Did you generate your latest report through WhatsApp?

I also see a credit enquiry of ₹0 for Consumer search by "Bureau Disclosure Report with
Customized Match V3".

 

[Strange]

Did you generate your latest report through WhatsApp?

I also see a credit enquiry of ₹60,000 for Consumer search by Bureau Disclosure Report with
Customized Match V3.

@SSV Is this enquiry also showing on your Experian credit report?

 

[SSV]

@SSV Is this enquiry also showing on your Experian credit report?

I always use my official premium subscription from the Experian web site..
not thru whatsapp.

I have total 8 enquiries and all are bank related enquires.. no V3 enquiry is showing in my report.

Here it is:

 

[SSV]

View attachment 49671

Please update it today and lets know the new score..
Thanks

 

[Strange]

I always use my official premium subscription from the Experian web site..
not thru whatsapp.

I have total 8 enquiries and all are bank related enquires.. no V3 enquiry is showing in my report.

Here it is:

View attachment 49682
View attachment 49683

Can you download report as pdf then check.

 

[SSV]

Can you download report as pdf then check.

Yes, I did and it has the same 8 enquiries..
as per pdf..

Do you want anything else ??

 

[RAMESH BABU N]

YES..
It seems Experian have changed their Consumer Bureau Score version from V2 to V3..

It seems the new version V3 will more or less align with CIBIL score levels..
There will be no more above 850 scores in Experian under new system as per their population distribution shift projection...

Thank God, now Experian aligned with CIBIL and I previously oberved Equifax also aligned with CIBIL more or less...
Now CRIF is still the odd man out..

Apart from CRIF, all there bureaus aligned to same level of scoring .. thhey may fine tune a bit soon.

Now, in general any score above 750 is good and any score above 800 is excellent in all CIBIL, Experian and Equifax... ( if not right now, it seems they are working towards that goal.. Hopefully CRIF also joins the team...)...


Here are salient fatures of new V3 from Experian a.k.a Consumer Bureau Score V3

On an average there will be -50 points effect after the new version is implemented..

Most importatnly ,

This is how the new population distribution will work as compared to the old verion...

V2 : Pink Colour
V3: Violet Colour

Note: From now on, a very less people will be scored >825 ... look at the below highlighted population distribution chart...

View attachment 49681

Expected move by Experian.
I am not surprised or worried.
This is on expected lines.