Why sudden dips in credit scores across the bureaus

[Saiv]

My Equifax score dropped 67 Points i did nothing wrong 100% On Time Payments, No credit enquiries in January, usage is also very very low, why a massive drop?.

 

[Sourabh_13]

Very very low aside, did the utilization increase or decrease as compared to the previous month?

Did any credit agency reported anything late? Did you add/close a card, not in the last month itself but in earlier months and it is reported recently to the credit agencies?

 

[Pooja Patil]

Yes observed the same for this month. Mine was 799 consistent for last 5 months but this month dropped to 788 without any utilization or inquiry for last month.

 

[Saiv]

Very very low aside, did the utilization increase or decrease as compared to the previous month?

Did any credit agency reported anything late? Did you add/close a card, not in the last month itself but in earlier months and it is reported recently to the credit agencies?

Usage stayed same. I added hdfc virtual card this month which is non enquiry one, added sbi last month but that to non enquiry based one just pre approved offers

 

[Fintellect]

My Equifax score dropped 67 Points i did nothing wrong 100% On Time Payments, No credit enquiries in January, usage is also very very low, why a massive drop?.

Create a dispute and asked the reason.

I did asked the CIBIL for reason last year, they said they did basis of my 3years of inquiries of loans and cards also shared some tips to increase score.

 

[InfamousInfamous is verified member.]

CIBIL has changed their scoring methods, find about it here

 

[Balaket]

Usage stayed same. I added hdfc virtual card this month which is non enquiry one, added sbi last month but that to non enquiry based one just pre approved offers

Because age of credit is reduced for new account added, so wait 2 or 3 months automatically increase

 

[legend007]

Mine dropped 72 points while having a spends of 3200 against a limit of 50000

 

[cool_jazz]

And here I'm struggling to remove Fake Credit Card of Indusind Bank.
Now thinking to complaint on RBI, more than 1 month gone still not removed.

 

[ironman333]

Where to check Equifax Score?

 

[RRR999]

And here I'm struggling to remove Fake Credit Card of Indusind Bank.
Now thinking to complaint on RBI, more than 1 month gone still not removed.

Write a mail to bank explaining situation by quoting your credit report,also drop a mail to concerned credit agency. Mostly they will resolve,Or else register a complaint with RBI ombudsman. Mostly bank will help you resolve it they won't mess it.

 

[darkKnight420]

My Equifax score dropped 67 Points i did nothing wrong 100% On Time Payments, No credit enquiries in January, usage is also very very low, why a massive drop?.

Same issues w me

 

[Credit_Cards]

Same issues w me

why worry about other 3, only CIBIL matters.
Anyways these could be either result of change in scoring or just a temporary dip either way it shall stablize in 2-3 months

 

[cool_jazz]

Write a mail to bank explaining situation by quoting your credit report,also drop a mail to concerned credit agency. Mostly they will resolve,Or else register a complaint with RBI ombudsman. Mostly bank will help you resolve it they won't mess it.

Always fighting with bank and got solution within 1-2 months but now seems ignored. So ist time logged Compliant In RBI. Let's see

 

[Saiv]

Not

why worry about other 3, only CIBIL matters.
Anyways these could be either result of change in scoring or just a temporary dip either way it shall stablize in 2-3 months

anymore Hdfc Kotak(before ban) started enquiring with experian as their first choice, at least in my case! Experian slowly levelling up with CIBIL,

 

[Credit_Cards]

Not

anymore Hdfc Kotak(before ban) started enquiring with experian as their first choice, at least in my case! Experian slowly levelling up with CIBIL,

If you apply offline agents check all 4 scores and put the one with maximum score but holistically CIBIL is still the most important one.

Since new Experian arrived in April 2024 they are more stable and not extremely high.