CIBIL Score Dropped

[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
Till 19th July i had no active credit card or loan , On 19th July I applied for Axis Card
What could be reason for score dropping ?

NOTE: GPay score check was done before 19th July

 

[TaxWiser]

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
Till 19th July i had no active credit card or loan , On 19th July I applied for Axis Card
What could be reason for score dropping ?

NOTE: GPay score check was done before 19th July

Since you don’t have any active credit products like credit cards or loans, which usually help boost your CIBIL score, the hard inquiry by SBI Card has likely caused a dip in your score.

Here are some factors (Source: One Score app) that affect credit score:

• Timely Payments
• Credit Limit Utilization
• Age of Credit Products
• No. Of Credit Products
• Credit Enquiries
• Profile/Account Details

Right now, you don’t have any factors working to increase your score, and that credit card inquiry has brought it down a bit.

Tip: If your CC applications aren't getting approved then go for atleast One Secured CC or Pay Later account for maintaining a healthy Credit Score.

Hope this helps!

 

[hitirfan]

Since you don’t have any active credit products like credit cards or loans, which usually help boost your CIBIL score, the hard inquiry by SBI Card has likely caused a dip in your score.

Here are some factors (Source: One Score app) that affect credit score:

• Timely Payments
• Credit Limit Utilization
• Age of Credit Products
• No. Of Credit Products
• Credit Enquiries
• Profile/Account Details

Right now, you don’t have any factors working to increase your score, and that credit card inquiry has brought it down a bit.

Tip: If your CC applications aren't getting approved then go for atleast One Secured CC or Pay Later account for maintaining a healthy Credit Score.

Hope this helps!

That enquiry is from January, 2024.

I think there may have been some kinda techie issue or something like that and his score will come back after few days/ next month.

 

[TaxWiser]

That enquiry is from January, 2024.

I think there may have been some kinda techie issue or something like that and his score will come back after few days/ next month.

@hitirfan Thanks for pointing that out
I didn't paid attention to the date before writing such a long post

But @Master Chief must own atleast one Credit Products for maintaining healthy Credit Score or else it will keep fluctuating without making any sense. And after a year, his Credit Report will completely vanished i.e. what happened with my cousin.

 

[Master Chief]

@hitirfan Thanks for pointing that out
I didn't paid attention to the date before writing such a long post

But @Master Chief must own atleast one Credit Products for maintaining healthy Credit Score or else it will keep fluctuating without making any sense. And after a year, his Credit Report will completely vanished i.e. what happened with my cousin.

Now I have one Axis bank credit card received just two days back

 

[TaxWiser]

Now I have one Axis bank credit card received just two days back

Congrats for your New Airtel Axis CC that you have received 2 days back

 

[Master Chief]

his score will come back after few days/ next month

Score updated but still same

Still shows No active cards even though i have Axis Card since 3 week

 

[zacobite]

Score updated but still same

Still shows No active cards even though i have Axis Card since 3 week

wait.. dont rush.. and no need to chk credit score so often.. it will settle in 2-3 months.. it will chg every month with your usage and payment.. hw much will u track.. once a quarter is gd to chk just for any errors.. the logic u will never understand..of the actual score chg.. u can predict up or down.. but not how much.. no one can!!

 

[Master Chief]

wait.. dont rush.. and no need to chk credit score so often.. it will settle in 2-3 months.. it will chg every month with your usage and payment.. hw much will u track.. once a quarter is gd to chk just for any errors.. the logic u will never understand..of the actual score chg.. u can predict up or down.. but not how much.. no one can!!

Its not about the Card which is not showing in CIBIL report, its about the CIBIL score

My CIBIL score dropped from 752 to 726 without any reason. Till June it was 752 but when i checked in July it dropped to 726, @hitirfan said there might be some technical issue or something like that and score will come back after few days/ next month but it's still the same

 

[zacobite]

Its not about the Card which is not showing in CIBIL report, its about the CIBIL score

My CIBIL score dropped from 752 to 726 without any reason. Till June it was 752 but when i checked in July it dropped to 726, @hitirfan said there might be some technical issue or something like that and score will come back after few days/ next month but it's still the same

pls tell us what chgs have happened in your situation over last 3 months.. new cards / new. enquiries / high usage / missed payment.. its probably bcoz you DON'T have a credit card.. so history is diluted.. get a card / use it well

 

[hitirfan]

Score updated but still same

Still shows No active cards even though i have Axis Card since 3 week

July wala abhi update nahi huwa hoga. Mje BOB Card mila June mai wo abhi tak CIBIL mai nahi aya

 

[Master Chief]

pls tell us what chgs have happened in your situation over last 3 months.. new cards / new. enquiries / high usage / missed payment.. its probably bcoz you DON'T have a credit card.. so history is diluted.. get a card / use it well

Last 3 months, 2 new enquiries AXIS (19 JULY, Approved) & ICICI (2 AUG, REJECTED) , AXIS Card received on 25th using since then apart from that no change

NOTE: CIBIL score was down to 726 even before 2 new enquiries happened (Score was 752 in JUNE)

 

[Master Chief]

July wala abhi update nahi huwa hoga. Mje BOB Card mila June mai wo abhi tak CIBIL mai nahi aya

When Banks report every month to Credit Agencies then why does it take time for Card to reflect in Credit Report

 

[Skylar]

Still shows No active cards even though i have Axis Card since 3 week

I received my Axis card on November 1st, with a billing date of the 15th. However, the first month’s bill was not generated until December 15th and was subsequently listed in credit reports in the first week of January.

Axis Bank typically takes time to list the first card in credit reports to allow customers to adjust to their new card. In contrast, my second card was reported within a week.