Query regarding CIBIL report

POSTED BY Saravanan ON May 7, 2013 7:52 am COMMENTS (6)

Dear Forum Members, I am happy to inform that have completed one Action Yesterday. Got my CIBIL report generated online, It was instantaneous. Thanks to Manish for educating me on CIBIL Report.

Coming to my question, my CIBIL scrore is 838. I have 2 credit cards (active) and 2 personal lons that are closed long back in 2008 and 2009. I have never delayed any Payments past the due date. All of the DPD entries ‘000’ expect for one closed loan where the banker has reported its as ‘STD’. Is this an cause for the reduced score? Just wanted to understand inspite of being regular why the score reduces?

Also another issue is that, there is an entry in the CIBIL report for a credit card from a bank, which I have not used at all. Also there are DPD entries for 4 months all entries are ‘000’ only. Should I correct such discrepency in the report or Is that fine as it has no negative impact?

6 replies on this article “Query regarding CIBIL report”

  1. Credexpert says:
    May 7, 2013 at 1:12 pm

    Dear Saravanan,

    838 is a good score. Lending institutions report payment history either as DPD (Days Past Due) or Asset Classification (i.e. Standard, Sub Standard, Doubtful etc.)The STD (Standard) remark on your credit report indicates that your repayments were on time.

    Credit scores are made of various components like credit mix, enquiries, outstanding balance etc. and not only late payments and hence the possibility of the score being low in spite of repaying on time.

    Regarding the credit card that does not belong to you, such erroneous accounts need to be removed from your credit report immediately as they can impact your credit score negatively.

    Regards,
    Credexpert

    Reply
    1. Saravanan says:
      May 7, 2013 at 8:42 pm

      Thanks for detailed response. My score is fine also the minor correction needed – I have taken the necessary steps. Would use your service in case needed in future. Thanks.

      Reply
  2. Muthu Krishnan V says:
    May 7, 2013 at 11:12 am

    hi, if you had applied for the credit card, card is in your possession then it will be reported to cibil irrespective of whether you ever used it or not. file a dispute resolution if you did not apply for the card or applied for it but never received the card.

    Reply
    1. Saravanan says:
      May 7, 2013 at 8:38 pm

      Thanks for the response. I have not received any credit card, may be they issued it as I hold relationship with them. The card has been closed after 3 months that is in 2008. And DPD are only ‘000’ so I guess no issues. I have not personally received any card from this bank. I have already filed a dispute resolution in category ‘Ownership’.

      Reply
  3. Ashal Jauhari says:
    May 7, 2013 at 9:05 am

    Dear Sarvanan, congratulations for having a high score. Regarding the credit card which was never used by you but reported in your CIBIL report, please file a dispute resolution with CIBIL to remove this entry. Other things are OK.

    Thanks

    Ashal

    Reply
    1. Saravanan says:
      May 7, 2013 at 10:15 am

      Thanks Ashal. You have been answering all my queries really appreciate your willingness to help others. Sure I will follow it up with dispute resolution. Thank you so much.

      Reply

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