What is the highest single jump or fall in your score you've had on a month-on-month basis and why?

[CARDBITRAGE]

Hello everyone! I just generated my credit reports for the month and noticed something unexpected. My credit score tanked by 20 points in my Nov'22 report and climbed by 24 points in my Feb '23 report. I've opened 2 new accounts, generated 5 new enquiries during this period and kept my credit utilization under 20%. Also, I received a LE on one of my cards. Has anybody had their credit score this volatile?

 

[gurbina]

Hello everyone! I just generated my credit reports for the month and noticed something unexpected. My credit score tanked by 20 points in my Nov'22 report and climbed by 24 points in my Feb '23 report. I've opened 2 new accounts, generated 5 new enquiries during this period and kept my credit utilization under 20%. Also, I received a LE on one of my cards. Has anybody had their credit score this volatile?

CIBIL? I'll never understand CIBIL credit scores. Nothing changed in my report except credit card utilization, I went from 724 to 767 suddenly. I compared a few reports I had that were dated like 2-3 weeks apart and they were nearly identical for CIBIL
I remember late last year it also dropped like 4-7 points monthly for no apparent reason.

Experian on the other hand is always consistent and doesn't have such mood swings like CIBIL does. CIBIL for me has been beyond useless, inconsistent scores (and the lack of logic behind it) and lots of missing data. It only exists to give me headaches.

 

[timetraveller]

I had my credit score drop my >70 points recently. I had never missed any payment in the last 12 years but I was in the middle of closing a missold SBI Elite card. I was charged a joining fee without activation and SBI reported it as missed payment.

They did waive the joining fee after that but no correction in the CIBIL. I've raised a grievance however no update so far.

 

[Slayer]

I had my credit score drop my >70 points recently. I had never missed any payment in the last 12 years but I was in the middle of closing a missold SBI Elite card. I was charged a joining fee without activation and SBI reported it as missed payment.

They did waive the joining fee after that but no correction in the CIBIL. I've raised a grievance however no update so far.

SBI being SBI

 

[CARDBITRAGE]

I had my credit score drop my >70 points recently. I had never missed any payment in the last 12 years but I was in the middle of closing a missold SBI Elite card. I was charged a joining fee without activation and SBI reported it as missed payment.

They did waive the joining fee after that but no correction in the CIBIL. I've raised a grievance however no update so far.

SBI is such a bloody menace. I hope you've raised your concern with the ombudsman. Could you have downgraded your credit card immediately after receiving it? I've heard that they don't charge the annual fees for the issued card, but you'll have to pay the fees of that for the downgraded card.

 

[hemant ojha]

CIBIL - 780 -> 780
Experian - 870 -> 782 (-88)
CRIF - 686 -> 545 (-141)

Just doesn't understand how these scores are so different.

 

[Dr. Drake]

I had my credit score drop my >70 points recently. I had never missed any payment in the last 12 years but I was in the middle of closing a missold SBI Elite card. I was charged a joining fee without activation and SBI reported it as missed payment.

They did waive the joining fee after that but no correction in the CIBIL. I've raised a grievance however no update so far.

Had a similar experience close my sbi credit card in 2020 received NOC at that time I didn't use to look at cibil for 3-5months. I noticed sbi had reported three late payments. I Inquired to sbi & they said a some 2rs mandate was reversed & card was activated as per there rules & for that I had to pay like 700-800 something to close that (I wasn't notified about this anywhere). I paid immediately but till date I had 3 late remarks from sbi in 8Yrs of history. & yes that resulted in 27-30pts drops in cibil

I still hold 1 card from sbi (just for the offers) which has 20k limit from past 5yrs not a single lE. Sent income documents atleast 5times but still not received any LE (my income is 7+digits & my top card limit is 7.2L) but as per sbi my assign limit is best they can do as per my income

 

[Suman1308]

There was a drop of almost 70 points in my cibil as sbi had reported a late payment for no fault of mine and it had dropped from 802 to 730.on complaining sbi reversed the late fee but did not report the changes to cibil. Till date have not been able to come back to my previous score and it's currently 764.