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Why are my credit scores from institutions other than CIBIL fluctuating so much?

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Pankhuri

Pankhuri

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For most of this year, My cibil score is stuck. It goes up or down a point or two every 2-3 months but that's about it.

My Experian score started the year at 822, increased to 853 in Aug and decreased to 791 in Dec.

My CRIF was 748 in Aug, 742 in Oct and decreased to 665 in Dec.

My Equifax was 718 in Aug, remained same in Oct and is 763 in Dec.

This year I added 3 cards in april and then 1 in july, 1 in aug and 1 in Oct. Most of my credit enquiries were in April, since then I have only enquired about the cards which I have been awarded. In all of this my CIBIL has remained steady at 795 +/- 2 points. However all of the other credit scores are fluctuating. Haven't enquired about any loans.
 
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Pankhuri said:
For most of this year, My cibil score is stuck. It goes up or down a point or two every 2-3 months but that's about it.

My Experian score started the year at 822, increased to 853 in Aug and decreased to 791 in Dec.

My CRIF was 748 in Aug, 742 in Oct and decreased to 665 in Dec.

My Equifax was 718 in Aug, remained same in Oct and is 763 in Dec.

This year I added 3 cards in april and then 1 in july, 1 in aug and 1 in Oct. Most of my credit enquiries were in April, since then I have only enquired about the cards which I have been awarded. In all of this my CIBIL has remained steady at 795 +/- 2 points. However all of the other credit scores are fluctuating. Haven't enquired about any loans.
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Because they all use their own proprietary formulas to calculate score
 
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varun__goel_ said:
Remains around 720 from the very beginning 😑 Contacted cred and they just wait for it to increase🫡
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to improve your crif ..these are the main things they look at.. improve these factors for a month or two and see how the score increases

1}No/minimal recent missed payments
2}Normal proportion of outstanding balance to disbursed amount
3)Considerably high proportion of active contracts
 
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S S V said:
Because they all use their own proprietary formulas to calculate score
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Yeah but how can the formulas differ so much? I would understand if I was using a mix of various loans and credit cards, but this seems so bizzare that only using credit cards is somehow resulting in widely different patterns in credit scores.
 
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Pankhuri said:
Yeah but how can the formulas differ so much? I would understand if I was using a mix of various loans and credit cards, but this seems so bizzare that only using credit cards is somehow resulting in widely different patterns in credit scores.
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The score variation contriuting factors amoung the bureaus may include:
1) what parameters they use?
2)how much weightage they give to each
3)what is the time length of each parameter they take into account
4) how frequently they receive the info from finanicial institutions,and how frequently they update
..
..
etc
 
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S S V said:
to improve your crif ..these are the main things they look at.. improve these factors for a month or two and see how the score increases

1}No/minimal recent missed payments
2}Normal proportion of outstanding balance to disbursed amount
3)Considerably high proportion of active contracts
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Why does this comment looks like faq section of their website🤭🤣
 
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S S V said:
I think, as you are familiar with their web site and FAQ section, you might know how these things work and follow the same to improve your CRIF score...
as it is the official info..
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Yeah I know, my utilisation is always is less than 10% and no late payments, still this score. CIBIL is 770+ and experian 860+(dont know how🤣🤣)
 
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TheGuy said:
@S S V apart from SBI Home Loans any way to get these reports in PDF form?

Can you please point me towards thread/ search query to get different credit reports (apps or official).
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Freecharge if you are using android. Download their app, go through the usual procedure of generating your report. Then from the 3 dot menu, choose to open the report in a browser app. From there you can easily use the print to save as pdf.
 
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S S V said:
do you want to know the details?
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details like?

- What is the price of subscriptions?
- Need?

- How many enquires would you recommend is okay?
Like 3 in past 6 months
- What issuers are more sensitive to enquires?
AFAIK SC , HSBC, AMEX
- Issuers sensitive to Credit Exposure?
AFAIK SBI
- If some banks follow others apart from CIBIL as primary
 
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TheGuy said:
details like?

- What is the price of subscriptions?
- Need?

- How many enquires would you recommend is okay?
Like 3 in past 6 months
- What issuers are more sensitive to enquires?
AFAIK SC , HSBC, AMEX
- Issuers sensitive to Credit Exposure?
AFAIK SBI
- If some banks follow others apart from CIBIL as primary
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I have written an article about this topic here

Thread 'My Credit Bureau Journey - An Experience (Experian, CRIF and Equifax)' https://www.technofino.in/community...n-experience-experian-crif-and-equifax.14542/
 
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