Improve CIBIL score to 800+

[BVCBVC is verified member.]

Pay off completely before bill generation and / or reporting date…

So you suggest me to keep my utilization ration to 0%? For all the cards?

 

[SSV]

So you suggest me to keep my utilization ration to 0%? For all the cards?

Yes . . Or take a home loan .. or wait for years

 

[SSV]

So you suggest me to keep my utilization ration to 0%? For all the cards?

Yes . . Or take a home loan .. or wait for years

780 + is a great score anyway…

 

[BVCBVC is verified member.]

780 + is a great score anyway…

Yes, just out of curiosity, how to get there.

 

[SplendorSuperman]

rejection was not based on CIBIL score..

It was because of too many enquiries...

How many enquiries you had in last 3 months?

 

[SSV]

How many enquiries you had in last 3 months?

About 10 or so, 16 in the last 6 months

 

[SplendorSuperman]

So you suggest me to keep my utilization ration to 0%? For all the cards?

My CIBIL history is of 5years 5 months , used to maintain 0% CUR and score was mostly 790+ ( max 796).
Last month forgot to clear the outstanding on 2 cards before bill generation , CUR increased to 3%.
Now the CIBIL Score stands at 782.
Also had 3 enquiries this month.

So in all Credit Age and CUR affect the score most in normal scenarios.

 

[SplendorSuperman]

About 10 or so, 16 in the last 6 months

Bob must be binging on some cheap stuff.

My BoB application is still processing, 20 days finished today.

Wrote a mail to PNO today.

 

[SSV]

Bob must be binging on some cheap stuff.

My BoB application is still processing, 20 days finished today.

Wrote a mail to PNO today.

All the best , is all I can say !!!

 

[shashankrt]

That's gas light.

Bargain when ?
Cc u can't
Pre approved loans u can't .
Only if u go via mannual mode
For
Car loan
Home loan
U can negotiate that too is smartly get stolen from you ..


800 is aspirational number but not worth the hassle

@SSV applied with 800 on Bob they rejected him . likewise good cibil score in not solely possible for intrest rate negotiation..
It depends on your profile

If you make your CUR zero
It wil go up by 10 +- number.

If you active cibil age is 5+ year u will touch 800 .
Or with home loan it's gets to 800 bcz home loan is most secure loan and now bank trust you blindly & u can't run away

But does that mean sbi will give u Cashback card no ..

780 is good ..be happy take more cards and enjoy.

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.

 

[shashankrt]

My CIBIL history is of 5years 5 months , used to maintain 0% CUR and score was mostly 790+ ( max 796).
Last month forgot to clear the outstanding on 2 cards before bill generation , CUR increased to 3%.
Now the CIBIL Score stands at 782.
Also had 3 enquiries this month.

So in all Credit Age and CUR affect the score most in normal scenarios.

Why are you so desperate for 800 CIBIL? Refer my earlier post - focus on other factors anything above 750 CIBIL is good enough.

Its the case of diminishing returns if you chase 800 CIBIL. Need to lose out on too many opportunities to maintain 800 CIBIL.

 

[SplendorSuperman]

Why are you so desperate for 800 CIBIL? Refer my earlier post - focus on other factors anything above 750 CIBIL is good enough.

Its the case of diminishing returns if you chase 800 CIBIL. Need to lose out on too many opportunities to maintain 800 CIBIL.

It isn’t desperation, just have a habit of repaying the outstanding near month end ( most of mine cc’s billing date is in 1st/2nd week of a month). So the cycle was maintained of not have outstanding.

 

[phronimos]

I don't understand people running after CIBIL score. Keep up the good habits and CIBIL will be fine. No need put extra effort.
I can tell about state bank home loan as I have one. Recently checked their rate card and got to know they are offering reduced rates. Went to bank with application. They checked and said you CIBIL is at 792 and you come in top bracket. We will bring down ROI as per rate card. And they did. CIBIL also went down by few point. Rest assured it will again increase. So why worry.
Bottom line CIBIL is not exam score that one has to get maximum marks. It's there for financial institutions to use. Let it be. Enjoy your life.

 

[kshitij_0]

Pay off completely before bill generation and / or reporting date…

So you are suggesting literally 0% CUR, not even 0.01?
Please share the reporting dates of various cards. I tried to track through Onesocre but it seems I couldn't successfully did it.
Is there any concept of lowest cibil score in a month? Does cibil score fluctuate on daily basis depending on the reporting dates of the cards in your portfolio?

 

[SSV]

Is there any concept of lowest cibil score in a month?

I dont know about this ..

Does cibil score fluctuate on daily basis depending on the reporting dates of the cards in your portfolio?

Yes, it does... whenever there is an event that impacts the score, the score will be changed dynamically for the banks when they enquire about our score.

 

[BVCBVC is verified member.]

So you are suggesting literally 0% CUR, not even 0.01?
Please share the reporting dates of various cards. I tried to track through Onesocre but it seems I couldn't successfully did it.
Is there any concept of lowest cibil score in a month? Does cibil score fluctuate on daily basis depending on the reporting dates of the cards in your portfolio?

Here you go.

 

[SSV]

So you are suggesting literally 0% CUR, not even 0.01?

Yes and Yes..

Please share the reporting dates of various cards. I tried to track through Onesocre but it seems I couldn't successfully did it.

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

 

[kshitij_0]

Here you go.

View attachment 51192

Do they report remaining outstanding balance on the mentioned date or the bill due which was generated in that month?

 

[SSV]

Do they report remaining outstanding balance on the mentioned date or the bill due which was generated in that month?

Outstanding balance as on reporting date will be reported
not balance as on statement date

 

[SSV]

Do they report remaining outstanding balance on the mentioned date or the bill due which was generated in that month?

Do they report remaining outstanding balance on the mentioned date or the bill due which was generated in that month?

Outstanding balance as on reporting date will be reported
not balance as on statement date

If the reporting date happens to be statement date then statement date balance will be reported
else
reporting date balance will be reported...