Regarding Cibil score

POSTED BY SP Pathan ON September 4, 2013 11:26 am COMMENTS (2)

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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?

2 replies on this article “Regarding Cibil score”

  1. Dear SP Pathan, first of please aply for your current CIBIL Score & detailed Report.

    thanks

    Ashal

  2. Credexpert says:

    Dear Mr. Pathan,

    872 is a good credit score but this was in the year 2011. This score must have changed over time given the various credit activities you must have undertaken in the past 2 years.

    Besides the payment history, various other factors also impact credit score like the outstanding balances, balance between secured & unsecured loans, no. of enquiries. Based on the fact that all of your repayments were on time and your credit utilisation is only upto 10%, we do not see an immediate factor that could have impacted your score.

    However, as mentioned other factors “could” have possibly impacted your score. An expert analysis of your credit report would provide a simplified yet comprehensive analysis of your report with the listing down of all the sections that have impacted your score.

    Regards,
    Credexpert

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