How Can I Improve My Credit Score After Multiple Credit Inquiries?

[ankittsharmaa]

Hi everyone,

I’m currently in a situation where my credit score dropped from 752 to 724 due to multiple credit inquiries (around 6 out of which 5 were in June 2024 and 1 in August 2024 which was made by my salary account provider ICICI bank). I don't currently have any credit cards, but I had one (Slice) that I closed about 8 months ago.

My question is: If I avoid applying for any new credit cards or loans in the near future, will my credit score improve on its own over time? Are there any other steps I can take to help it recover faster?

Thanks in advance for your advice!

 

[gagan43]

Hi everyone,

I’m currently in a situation where my credit score dropped from 752 to 724 due to multiple credit inquiries (around 6 out of which 5 were in June 2024 and 1 in August 2024 which was made by my salary account provider ICICI bank). I don't currently have any credit cards, but I had one (Slice) that I closed about 8 months ago.

My question is: If I avoid applying for any new credit cards or loans in the near future, will my credit score improve on its own over time? Are there any other steps I can take to help it recover faster?

Thanks in advance for your advice!

Try emailing to nodel officer and req them remove some enquiry stating the reason
And avoid applying for credit cards for next 2-3 mnths

 

[abhimarda]

Hi everyone,

I’m currently in a situation where my credit score dropped from 752 to 724 due to multiple credit inquiries (around 6 out of which 5 were in June 2024 and 1 in August 2024 which was made by my salary account provider ICICI bank). I don't currently have any credit cards, but I had one (Slice) that I closed about 8 months ago.

My question is: If I avoid applying for any new credit cards or loans in the near future, will my credit score improve on its own over time? Are there any other steps I can take to help it recover faster?

Thanks in advance for your advice!

If payments remain prompt and the reason of falling score is multiple enquiries, then it should improve in few months.

 

[zacobite]

Hi everyone,

I’m currently in a situation where my credit score dropped from 752 to 724 due to multiple credit inquiries (around 6 out of which 5 were in June 2024 and 1 in August 2024 which was made by my salary account provider ICICI bank). I don't currently have any credit cards, but I had one (Slice) that I closed about 8 months ago.

My question is: If I avoid applying for any new credit cards or loans in the near future, will my credit score improve on its own over time? Are there any other steps I can take to help it recover faster?

Thanks in advance for your advice!

yes wait for 9-12 months.. Keep Utilization low and pay all CC bills on time.. and wait

 

[shrewdoc]

Hi everyone,

I’m currently in a situation where my credit score dropped from 752 to 724 due to multiple credit inquiries (around 6 out of which 5 were in June 2024 and 1 in August 2024 which was made by my salary account provider ICICI bank). I don't currently have any credit cards, but I had one (Slice) that I closed about 8 months ago.

My question is: If I avoid applying for any new credit cards or loans in the near future, will my credit score improve on its own over time? Are there any other steps I can take to help it recover faster?

Thanks in advance for your advice!

There might be some other reason for this drop. Just 6 inquiries don't cause a drop of 28 points. You must be utilising >30% of your line of credit.

Keep your utilisation in check and start using the cards. Your score will improve automatically within 6 months if your payments are on-time.

 

[vishalprakash]

There might be some other reason for this drop. Just 6 inquiries don't cause a drop of 28 points. You must be utilising >30% of your line of credit.

Keep your utilisation in check and start using the cards. Your score will improve automatically within 6 months if your payments are on-time.

that's correct