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It is purely some abrupt algo issue, it will be back to normal. How old is your cibil profile?
Then just be worry free, it will all be okay..
I am assuming nothing else has changed here except for HL enquiry..
Keep refreshing report every day ..
All.the best
vega
TF Ace
To keep cibil consistent, keep utilization <1% always.
. Even if they fine tune the algorithm, drop wouldn't be this much. Wait for 15days. It will bounce back.
Possibly that is the reason. If you were getting full score from enquiry due to lack of any enquiry in last one year that has been adjusted with one large (housing loan amount) enquiry. In that case my guess is it won't jump again back to 800 in next 1 year.
2nd possibility is fine tuning in cibil score methodology. Where zero utilisation and zero (minimal) enquiries are being allotted lower weightage.
When I checked my CIBIL score on 24th December, it was 795. Today when I checked it again, it has fallen to 760!! 35 points drop! I checked both the reports in detail. The only change being credit usage in HDFC CC.
As per 24th Report, HDFC reported 38% on Dec 18th.
As per Today's Report, HDFC reported 48% on Dec 31st.
If the fall was due to crossing 30%, it should had fallen in 24th Dec report too.
Please let me know your opinions.
As per 24th Report, HDFC reported 38% on Dec 18th.
As per Today's Report, HDFC reported 48% on Dec 31st.
If the fall was due to crossing 30%, it should had fallen in 24th Dec report too.
Please let me know your opinions.
CIBIL scores are calculated once per month usually. Definitely high CC usage has affected the score, wait till Feb 2025 to see the score go up. Anything above 750 should not be a worry. Unless you are going for loan in near future only CIBIL scores above 800 get special interest discounts.
Moderators,
Please merge this thread with a similar existing thread. @Akashn @cardio_guy @kuchbhi and others
Existing Thread: https://www.technofino.in/community/threads/massive-cibil-drop-strange.36463/ (merge here)
Current Thread: https://www.technofino.in/community/threads/cibil-dropped-by-35-points-need-guidance.36487/ (current)
Please merge this thread with a similar existing thread. @Akashn @cardio_guy @kuchbhi and others
Existing Thread: https://www.technofino.in/community/threads/massive-cibil-drop-strange.36463/ (merge here)
Current Thread: https://www.technofino.in/community/threads/cibil-dropped-by-35-points-need-guidance.36487/ (current)
Guess you are right. I had thought that the score will dip slightly due to CC usage but it didn't on 24th Report. If they have done it now, then reporting might have become weekly but calculation is still monthly. But still 35 points is huge! Anyways I don't have any huge CC usage for next 6 months, so score should improve.
Can be merged if the moderator thinks so. The reason I created a separate thread was, in that case drop was due to enquiry. Here I was not aware due to what reason did the drop happen.
35 points are not huge if you only have CC and not a Home Loan or Vehicle Loan. Sudden high usage above definetely triggers the fall.
It is because of high utilization of any(or any single) account..
It is not like below 30% uilisation - some impact and above 30% another impact..
The utilization impact on the score is progressive by slabwise. Read thouroughly my CIBIL thread..
Once the utilization ratio was reduced , your score returns to the normal level..
Is it down again or up?
I have a query regarding limit utilization in CIBIL.
I have three ICICI credit cards (APay, Coral, and Shapphiro) with a combined limit of ₹250,000, which is shared across all three cards. However, in my CIBIL report, each card is listed as a separate account with a limit of ₹250,000.
My question is, if I utilize ₹60,000 (24%) on the APay card, ₹45,000 (18%) on the Coral card, and ₹25,000 (10%) on the Shapphiro card, will each card's utilization be considered separately (all below 30%) or will the total utilization of ₹1,30,000 (52% of the total limit) be considered?
Please share your thoughts on this matter.
@SSV
I have three ICICI credit cards (APay, Coral, and Shapphiro) with a combined limit of ₹250,000, which is shared across all three cards. However, in my CIBIL report, each card is listed as a separate account with a limit of ₹250,000.
My question is, if I utilize ₹60,000 (24%) on the APay card, ₹45,000 (18%) on the Coral card, and ₹25,000 (10%) on the Shapphiro card, will each card's utilization be considered separately (all below 30%) or will the total utilization of ₹1,30,000 (52% of the total limit) be considered?
Please share your thoughts on this matter.
@SSV
