POSTED BY September 4, 2013 11:26 am COMMENTS (2)ON
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Hello Jagoinvestor forum experts,
My query is regarding CIBIL Score. Till 2011, my Cibil score was 872 & also got 3 credit cards(Citi bank, Standard Chartered & HDFC) in the same year. My usage on these 3 credit cards were not even 10% of credit limit.
Recently, I had lost my standard chartered Credit card & applied for replacement. To my surprise, Bank has sent an email, stating that due to low CIBIL score-Replacement of card will not be possible. I have done all my credit card payments & loan payments on time, not even single time -paid extra rupee as fine.
My Queries are below
1. How did my cibil score has dropped within 2 years?
2. On what basis, they have reduced my score?
3. How do I increase my cibil score now?
4. Even though, I have paid all my payments on time, what exactly affected my cibil score?