Improve CIBIL score to 800+

[Beyond]

Exactly !! 18+ Yrs of CIBIL history and have secured almost all premium cards when my cibil was between 750 & 775 (sometimes even less than 750)

Whether its home loan or CC or any other banking product the most important criteria is your ITR. Any ITR above 50L and almost all premium CCs will start reaching out to you rather than you asking for them.

For home loans, the next biggest factor is your leverage (% of monthly net salary which goes in EMIs) For example, if you have no loans, CIBIL above 700, even then you will get lowest rate of interest assuming no other defaults.

CIBIL just becomes a number if above 2 are good and after 750 its largely irrelevant. Anyone who says higher the CIBIL better chances of loans just does not know how banking system works. You can have 800 CIBIL and leverage higher than 50% and most banks will reject the loan or have higher interest rates.

I tend to disagree personally, years ago when my cibil was in range of 765-775, they used to ask documents before approval, and physical verification was done every-time. once it crossed to 775 never had to submit income proof card approval takes less time. Though others might have different experience than mine...

 

[kshitij_0]

Yes and Yes..


Here it is:

Credit Card CIBIL Reporting Date

Hello everyone, If you are holding multiple credit cards, and wants to keep your credit utilisation ration under 30% then you should know, on which date your card issuers report your card uses data to CIBIL. To know more about how to maintain credit utilisation ratio under 30% or lower watch...

www.technofino.in

From the same thread.

Credit Card CIBIL Reporting Date

Which option is better to increase cibil score if my utilization is less than 30%, pay before month end or next month? @Subhankar @bhavyegoel @TechnoFino Pay before bill date if less than 30%. Hardly matters if you are paying it with discipline.

www.technofino.in

Basically they are saying to not keep the amount to zero. Generate the bill of minimal amount and pay it after the bill generation. What do you say?

 

[SSV]

What do you say?

I don't say anything ... My score says everything...






Remind me after one month.. I will share my screenshot with 0 utilisation.

 

[kshitij_0]

I don't say anything ... My score says everything...

View attachment 51288


View attachment 51289

Remind me after one month.. I will share my screenshot with 0 utilisation.

I think in a long term that factor (number of repayments) will matter.
0% may increase the score in short time though.

 

[SplendorSuperman]

I don't say anything ... My score says everything...

View attachment 51288


View attachment 51289

Remind me after one month.. I will share my screenshot with 0 utilisation.

At CUR of 4% score dropped from 790+ to 782 a week ago.
Refreshed my report, CUR at 2% and score at 789.

 

[SSV]

At CUR of 4% score dropped from 790+ to 782 a week ago.
Refreshed my report, CUR at 2% and score at 789.

and refresh again at CUR @0 , your score would be at around 800 ..

 

[SplendorSuperman]

and refresh again at CUR @0 , your score would be at around 800

Haven’t reached 800 mark before , 796 was highest.
Hopefully it reaches.

 

[SSV]

Haven’t reached 800 mark before , 796 was highest.
Hopefully it reaches.

If your CIBIL age is more than 5 , it would reach 800.. but the caveat is: your every account's CUR should be <= 0 .

 

[COmM4nDer]

I don't say anything ... My score says everything...

CUR is 2%. So no chance of 800 in a few months?

 

[SSV]

View attachment 51315
CUR is 2%. So no chance of 800 in a few months?

if you make CUR of every account 0 or less, it will be possible by next month.. if not, not any time soon unless you take home loan

 

[Odugu Narasimha Rao]

I think low credit ratio will increase your score and repayments and history

 

[SSV]

I think in a long term that factor (number of repayments) will matter.
0% may increase the score in short time though.

View attachment 51315
CUR is 2%. So no chance of 800 in a few months?

Haven’t reached 800 mark before , 796 was highest.
Hopefully it reaches.

Here is the new post about the CIBIL score for your reference...

Thread 'CIBIL Score - A Practical Guide'

Jul 18, 2024

CIBIL Score - A Practical Guide

Discalimer: This is mainly for regular Credt Card users who pay all their dues before due date and wondering why their score is not increasing..
Here we dont discuss the cases where there were defaults and / or delayed payments..that is for another day..​

Ladies and Gentelmen,

Here is the much awaited post on CIBIL Score and how it works and what we should do to improve it over the period of the time..

Here I won't go in detail about how the score is constructed as there were numerous posts on the internet in explaining the CIBIL score...

• SSV
• cibil score
• Replies: 588
• Forum: Informative Threads

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[drsel]

Need it for home loan, as I'm planning to purchase an apartment in the near future.

Do you know the sum of all the extra charges when you buy and sell a house?