Cibil score falls from 776 to 751 in 45 days , Why ?

POSTED BY sbiswas ON February 16, 2014 1:55 pm COMMENTS (5)

Hi,

I checked my cibil score on 31/12/2013 which was showing 776 On 15/02/2014, i again checked with my score and now it showing 751.

Whereas i had a total outstanding of 1.5 lacs on credit cards till 24.12.2013 and i paid all credit card outstanding on 30.12.2013 and none of them i settled.I paid the full amount.

Now one of the credit cards of Citibank is showing that the amount has been fully paid whereas Standard Chartered and ICICI have not yet updated the status.In between my car loan and personal loan has been also paid on time.

I will be needing a home loan of approx 14 to 15 lacs in the next 1 month. My query is why did my score suddenly fall by so much in so less days and is 751 score is good enough to get a home loan

thanks

S biswas

5 replies on this article “Cibil score falls from 776 to 751 in 45 days , Why ?”

  1. Credexpert says:
    February 18, 2014 at 10:20 am

    Dear Mr. Biswas,

    You can go ahead and clarify your queries through the dispute resolution process of the bureau. However, kindly note that you could only raise your queries related to any discrepancies appearing on your credit report.

    Drop in credit score by 25 points would be too general a dispute, since the score is calculated based on various parameters. You should instead try and understand your credit report and identify the factors that hint towards a negative impact on your credit score. An expert’ s guidance will help.

    Regards,
    Credexpert
    http://www.credexpert.in

    Reply
  2. ashalanshu says:
    February 17, 2014 at 10:42 pm

    Dear S Biswas, if you want, you may call but in my personal view CIBIL people can not answer such personal query.

    Thanks

    Ashal

    Reply
  3. Credexpert says:
    February 17, 2014 at 11:02 am

    Dear Mr. Biswas,

    Yes, 751 is a good credit score but a higher score is always desirable.

    Credit scores are calculated based on various factors like no of secured versus unsecured loans, outstanding balances, credit utilization ratio on your credit cards, payment history, no of enquiries, etc.

    It would be difficult to comment on the reason for the decrease of your score unless the report is examined and analysed. The non updation of Standard Chartered and ICICI Bank accounts could be a possible reason for it.

    Also, the approval of your home loan application would not be dependent only on your credit score. Your income, joint applicants if any, ITR, job stability etc. also play an important role in it.

    Regards,
    Credexpert
    http://www.credexpert.in

    Reply
    1. sbiswas says:
      February 17, 2014 at 10:00 pm

      Thank you credexpert and anshal.

      Wanted to ask you if i can approach cibil for the drop in the score.Despite my score being on a higher side i am a bit surprised by score going down by 25 points.

      So want your suggestion if cibil can clarify my doubts over phone or mail.

      regards

      S Biswas

      Reply
  4. ashalanshu says:
    February 17, 2014 at 1:00 am

    Dear S Biswas, 751 is also a good score. Please check your report in detail to get the answer of score fall. Is there any negative entry from your past for DPD or too much loan applications in between?

    Thanks

    Ashal

    Reply

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