What affected my CIBIL Score ? I am puzzled !

POSTED BY Vikram ON June 15, 2014 8:15 am COMMENTS (2)

Hi Team,
 I have been keeping a tab on my CIBIL score from the past 6 months after understanding the importance of it. Before i became aware of CIBIL body and its functioning i have had multiple Credit card applications rejected  which pulled my score down to 750.
 But since October 2013 i have not applied for any CC/loan. I have an auto loan and personal loan running for 28 months now. Not a single EMI missed till date.  The details on my CIBIL report is all fine and error free.
However i don’t understand the scoring. When i looked at my score for this month(JUNE) i see a drop from 808  to 783 in 3 months. I have not missed my credit card payment and EMIs  not only in the past 6 months but in my life. In fact current outstanding amount on both my  credit cards is ZERO. Its all there on my CIBIL report correctly.
Any idea/reason which could have affected my score ? It’s a puzzler to me.
Starting October 2013, i have been checking my CIBIL report every 3 months –
Between October and now i have not applied for any loan or credit card. Nor have i missed my EMIs and credit card bills. No delayed payments either.
October 2013- 756
December 2013-  764
March 2014 – 808
June 2014 – 783
Regards,
Vikram

2 replies on this article “What affected my CIBIL Score ? I am puzzled !”

  1. Chelsea says:

    Ajay,

    Thank you for your inputs.
    I would say not more than 30% of the limit available and i have always paid in full since Dec 2013. I haven’t used up credit anywhere close to available limit on my cards in an year or so.

    I have gotten real credit cautious particularly CC since i need to apply for a home loan next quarter. I am thriving to maintain a good , clean CIBIL report as i don’t want any surprise rejections.

    Still remains a puzzler to me… Any thoughts?

    Regards,
    Vikram

  2. Ajay says:

    Do you use too much of credit card and reach close to the limits each month (even though you pay it off on time) ? Will this be considered as “credit hungry”.

    PS: This may not be the answer to your query, but I am interested to learn why would it happen. Kind of keeping the ball rolling so that someone can answer the question. 🙂

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