Query Regarding CIBIL

POSTED BY Kavitha Ravi ON March 16, 2013 10:56 pm COMMENTS (5)

My Cibil score is 642. I do not know why because I do not have any default loans. I have 4 credit cards out of which 3 are recent. All of them are fully utilised as of now. I am a employee of Bank and though my salary is very good I am unable to get any pl for emergency. Also how do I improve my score and with this score if I have to go for a loan how much will I be eligible.

5 replies on this article “Query Regarding CIBIL”

  1. Credexpert says:

    Dear Ms. Rai,

    642 is an average score. Using up to 100% of your credit limit could have affected your score and since you have used up to 100% of the credit limit the outstanding amount to be repaid would be high.

    Also you do not have any secured loan and having 100% unsecured loan could make the lender view your report negatively, more so in your case since you have applied for an unsecured loan.

    How were your payments on the closed loans? Also are there any accounts in your report that does not belong to you. We would need to analyse your report in order to comment on the specific.

    Regards,
    Credexpert

  2. Dear Kavitha, thanks for the sharing. Please do not apply for any Loan as of now. Please clear your cards’ dues first. The score ‘ll improve slowly. It ‘ll not happen overnight.

    Thanks

    Ashal

  3. Kavitha Ravi says:

    The cards are only 6 months old and I have no overdue payments on them.

  4. Kavitha Ravi says:

    My credit Information report shows, my old loans which are closed. I had to use all the cards due to some emergency and I am paying them back now.

  5. Dear Kavitha, what about your credit report? In all probability, the full exhaust limits of your cards is the main culprits if your prev. history is clean. No you ‘ll not get any loan as on date with such financial behavior. If all your cards are exhausted as on date, it means you have already availed too much loan beyond your regular repayment capacity. I’m not aware in what situation you are in that all your cards have been exhausted. If possible to you, please clarify the real issue to us.

    Thanks

    Ashal

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