Analysing credit score

[goel7794]

Hi, can anyone confirm which free website is best for analysing the credit score? I know Apps like CRED, Paytm etc does help in checking the credit score but they don’t provide in depth analysis. Like what exactly caused the reduction in credit score.
In the last 2-3 months my credit score by more than 50 points so want to check what is causing significant drop.

 

[hitirfan]

What is your utilization ratio? Increase in enquiries?

 

[wcgxlr8]

Hi, can anyone confirm which free website is best for analysing the credit score? I know Apps like CRED, Paytm etc does help in checking the credit score but they don’t provide in depth analysis. Like what exactly caused the reduction in credit score.
In the last 2-3 months my credit score by more than 50 points so want to check what is causing significant drop.

OneScore app gives insights on the reasons. Do you know if there are any new accounts added which don’t belong to you? Best way is to check from CIBIL website directly imo.

 

[goel7794]

Only 1 credit enquiry, already holding another credit card from over 5 years. And with just 1 inquiry don’t think it should fall by 50 points. Does it check avg holding period of card- now the avg holding has fallen to less than 2.5 yrs? My credit utilisation has also decreased from 3% it has come down to 0.3%. If we don’t use much credit then credit score falls to?

 

[wcgxlr8]

Only 1 credit enquiry, already holding another credit card from over 5 years. And with just 1 inquiry don’t think it should fall by 50 points. Does it check avg holding period of card- now the avg holding has fallen to less than 2.5 yrs? My credit utilisation has also decreased from 3% it has come down to 0.3%. If we don’t use much credit then credit score falls to?

I don’t think it would drop by 50points. Yes, the credit history duration is a key factor. Also, your low utilisation won’t affect as long as it’s not zero

 

[Master Chief]

My CIBIL score dropped from 752 to 726 without any reason. Till June it was 752 but when i checked in July (on GPay) it dropped to 726
I had no active credit card or loan when GPay score check was done (now i have one active credit card)

 

[wcgxlr8]

My CIBIL score dropped from 752 to 726 without any reason. Till June it was 752 but when i checked in July (on GPay) it dropped to 726
I had no active credit card or loan when GPay score check was done (now i have one active credit card)

There was a revision for Experian score a few months back but I haven’t seen anything significant in CIBIL . Can you share a screenshot of the summary?

 

[Master Chief]

There was a revision for Experian score a few months back but I haven’t seen anything significant in CIBIL . Can you share a screenshot of the summary?

 

[Master Chief]

This one is from One Score which includes latest Axis Bank Enquiry but shows no active card

 

[wcgxlr8]

Can you check your report on CIBIL website? Look at the accounts/enquiries added

 

[wcgxlr8]

This one is from One Score which includes latest Axis Bank Enquiry but shows no active card

It takes about 30-45 days for the new accounts to reflect (it’s the time taken by axis to report)

 

[goel7794]

understand CIBIL and Experian has different methodologies to calculate score, but why is Experian score always higher than CIBIL? Think banks generally use CIBIL, is it true? Which score should I tell when somebody asks me?

 

[Master Chief]

Can you check your report on CIBIL website? Look at the accounts/enquiries added

It shows 3 enquiries, all which were done in past 10 months

 

[Robin77]

Analyzing your credit score is crucial for understanding your financial health and improving your creditworthiness. It involves reviewing factors such as payment history, credit utilization, length of credit history, types of credit accounts, and recent inquiries. Regularly monitoring your score can help you spot inaccuracies, manage debt more effectively, and make informed decisions about credit applications and financial planning.

 

[wcgxlr8]

No idea then bro, @Skylar any thoughts?

 

[Skylar]

It takes about 30-45 days for the new accounts to reflect (it’s the time taken by axis to report)

My first axis card took 3 months to appear on credit reports as Axis does that it skips first billing date.

 

[zacobite]

My CIBIL score dropped from 752 to 726 without any reason. Till June it was 752 but when i checked in July (on GPay) it dropped to 726
I had no active credit card or loan when GPay score check was done (now i have one active credit card)

Utilization / enquiry / default / new account added are the main reasons.. any chgs to this??

 

[Skylar]

No idea then bro, @Skylar any thoughts?

No idea then bro, @Skylar any thoughts?

Just 26 points could be cause of the enquiry and new account added.

even though reports not showing the new card, they report must have been updated in bureau but not in our report.

As you know even with subscription when we refresh daily points go down today and we see what changed next day, the change utilization ratio next day or new accounts added.

 

[Master Chief]

Just 26 points could be cause of the enquiry and new account added.

even though reports not showing the new card, they report must have been updated in bureau but not in our report.

As you know even with subscription when we refresh daily points go down today and we see what changed next day, the change utilization ratio next day or new accounts added.

But these 26 points dropped even before the enquiry happened as you can see in this post https://bekifaayati.co/threads/analysing-credit-score.4762/post-23542 GPay score check was done around 8 July till then i had no active credit card or Loan, Axis Bank enquiry happened on 19th July as you can see in this post (3rd screenshot) https://bekifaayati.co/threads/analysing-credit-score.4762/post-23543