Hi everyone, can anyone pls help me. My cibil is dropping. I have only 1 credit card no other loans. I had my cibil at 792, 3 months ago it drop to 787 then on September again it drop to 778, I always pay my credit card bill in 5 days after credit card billing. My card utilization is around 3-4% of my card. I didn't apply for any new card or loan from past 2 years. I dont want any car or home loan in present, what should I do. Should i apply for 1 more credit card for mix loan ??
Cibil related
- Thread starter pratik938
- Start date
TaxWiser
KF Mentor
FD based Secured CC might be more helpful in improving your Credit Mix
Thank u but it won't work, I had a sbi card 3 years back against FD but that card is showing as unsecured loan similar to normal cards.FD based Secured CC might be more helpful in improving your Credit Mix
TaxWiser
KF Mentor
Don't know how SBI FD CC Works but my father has a OneCard CC and it appears as secured CC in Credit report along with two unsecured CC i.e SBI SimplySAVE RuPay CC and PNB Platinum Rupay CC.
What if I take another unsecured card?
Sam Maxi
KF Mentor
Nope, that would be Opposite Step Bro. The Aim is to Have a Balanced Credit Mix. You Have Only 1 CC and that is Unsecured One, So a Appropriate Action Would be To Go For A Secured Card as that'll Make Your Credit Mix Balanced like 1 Unsecured Card and 1 Secured Card
I have my account in sbi. Fd in sbi how can I take cc from another company??? And sbi card never inform bureau that the card is againt fd. Now what shd I do?
Sam Maxi
KF Mentor
I Don't Know About the Charges for Premature Withdrawal of FD and if you Even Want to use that FD amount. I'll Just share the Process Briefly. You Don't Need to have a Bank Account for Availing a FD CC. The Process is that you Simply Apply for the FD CC and Fill in All the Details. They'll Ask for the Deposit Amount and that FD will be in the Bank of that Card. Lemme give a Example to Simplify.
You Choose IDFC WOW FD Credit Card.
You Go to the Application Website and Fill in the Details. And Choose the FD Amount in this Example 10k. You'll Have to Pay that fd amount to the Bank Through Upi or Netbanking ig after that your FD is Done with IDFC and your Amount is Secured with them. Now as you Proceed with the Process you'll Get the CC with Credit Limit around 100% of your Fd Amount i.e 10k.
I hope you could Understand this a Bit and For Better Understanding Try Watching a Applying Process video on YT of IDFC FIRST WOW CC
DivyanshAg
KF Expert
Hi, firstly of all I think you should check your CIBIL Score History from your CIBIL REPORT to know/understand the reason why your CIBIL Score is continuously decreasing. Check if some false enquiries/derogatory remarks are there.
If yes, then kindly raise a dispute ASAP or else if no, then for any derogatory remarks mentioned under derogatory remarks section of your CIBIL report.
Also, try to open one card account as suggested by all.
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