I have closed 2 credit cards and 4 loan accounts of NBFC cards. Once these are reported as CLOSED on my credit report, what impact will it have on my credit score?
My CIBIL is 764 and EXPERIAN is 819.
I have closed 2 credit cards and 4 loan accounts of NBFC cards. Once these are reported as CLOSED on my credit report, what impact will it have on my credit score?
My CIBIL is 764 and EXPERIAN is 819.
I closed 3 accounts in last 6 months... Not a single points dropped....... If u have closed in space of 1-2 months.. Expect anywhere between 20-40 points drop....
Don't feel bad about closing loan accounts. Whenever someone takes EMI it's usually marked as CD or PL and closes in a few months. And BNPL is also marked as a PL.
I closed 3 accounts in last 6 months... Not a single points dropped....... If u have closed in space of 1-2 months.. Expect anywhere between 20-40 points drop....
I have closed 2 credit cards and 4 loan accounts of NBFC cards. Once these are reported as CLOSED on my credit report, what impact will it have on my credit score?
My CIBIL is 764 and EXPERIAN is 819.
Cibil is more confusion that anything... Sometimes... For even hard enquiry it drops 40 points for some people... For others 1 point only... So its very hard to predict how it will behave...
Cibil is more confusion that anything... Sometimes... For even hard enquiry it drops 40 points for some people... For others 1 point only... So its very hard to predict how it will behave...
Cibil is more confusion that anything... Sometimes... For even hard enquiry it drops 40 points for some people... For others 1 point only... So its very hard to predict how it will behave...
I guess this is the most important point.. If the time gap between oldest account and next one are huge, and then closing the oldest one impacts more on score..