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Experian score dropped by 40points after opening new cc account
- Thread starter Dr. Drake
- Start date
Dr. Drake
TF Ace
Paperless Credit line upfront take it as super emergency fund if it ever required. Use under 5L in one tx so it won't be reported to cibil too
Experian & CRIF be like: We gonna compete with the stock market! 📈🤷♂️📉
AsB
TF Legend
My CIBIL dropped by 1 point recently due to strange reasons. I had applied for Slice card long time before. But, the card was unservicable in my pincode So, I didn't bother. A few months later , I received a message stating that my card has been dispatched. By that time, I already knew the wonders done by these BNPL cards , so I cancelled it. Now, a hard hard enquiry, with the name of Northern Arc Cap is shown in my CIBIL, and an account with the same name appears in my CIBIL. It opened in June 16 and closed on July 4. Before this account was reflected I had CIBIL of 771, but after that it dropped to 770. I never used that Slice card even once. Not even set up the pin. I don't know why the account got reflected in CIBIL.
Will there be any more effect on my CIBIL beyond this?
Will there be any more effect on my CIBIL beyond this?
Cibil also matters addition of new credit accounts but don't worry.
Yes Experian works bit different as many accounts you open in less time it will go down but eventually when you use then it goes up due to increase in repayment history and stability
Off topic:
Bro you exact look like Erhard sir from Trakin Tech English 😉
Manu624
TF Buzz
Will indusind bank refuse if I have more enquiries
For 2 year's I used slice...them lazypay,onecard and uni
I first got zest money of 12,000 3 year's back. Then I started taking 3,000 loan to pay electricity and internet....this way I built my credit score at one point to 880. I always got loan from DMI....then came somthing suddenly zest reported many other accounts...7 nahar 2000 or 3000 accounts.
being student with rent income....I take care of household... to my hands on Amazon credit card.
Then in March got axis...then in June got idfc.mu credit score is slowly building even Though I have lots of enquires from 720 to 770 in cibil.
Standard chartered rejected due to location.
Indusind I will apply Today.
Bob applied
Want to apply for HSBC and Citi Bank rewards on line after indusind
Manu624
TF Buzz
I have cred cash.....my crif is 680....and I have cred cash of 2,60,000 with 18% interest.
My dad crif is 710 and he has cred cash of 3.4lakh with 13.5% interest.
Manu624
TF Buzz
It was 880.... frankly it touched 884 before zest money messed up with 1
8 loans of 2000 to 3000
now it's 780. My credit score when to 668 and I have built it back fast enough
Dazzwilliams
TF Premier
Anyone aware which banks check only Experian and not Cibil? For CC application
Credit Karma
TF Premier
My CRIF dropped 100+ points when I added 2 new CCs.
It was already 680+, so no love lost there 😂
Their explanation was you have two accounts within last 6 months 😂
Attachments
AnungUnRama
TF Select
Although most people here have similar experience, I'm yet to experience such deviation in my Experian Score. It has remained steady around 822 for a long time now, although I've regularly added new credit products over the course of time.
AsB
TF Legend
I am aware. There was only 1 enquiry from HDFC, before the ban. After that, I had already opened an account, and had pre-approved offer. There was no CIBIL hit.
But, the only 1 time where there was a hit was on Experian. The application was rejected, because at that time, I had no Experian score.