I closed my 4 years old Flipkart pay later account and my credit score dropped, why ?

[Mahirathore360]

I only have one old pay later account of flipkart while other accounts are just one year older and once i have closed that my Cibil history length shortened to 1 year only and my credit score dropped by 16 points ,, why closing old account drop cibil score, why closed old account does not count towards cibil history. what should i do now ? please help

 

[Mjshri]

You can not do anything in this case, just wait it will improve its own, cibil work on active loan & CC. Duration of the loan account is one of the important parameters for cibil.

 

[Mahirathore360]

You can not do anything in this case, just wait it will improve its own, cibil work on active loan & CC. Duration of the loan account is one of the important parameters for cibil.

That's not a good parameter

 

[hitirfan]

Don't worry, it will improve quickly. Just keep Credit Utilization ratio very low.

 

[Mahirathore360]

Don't worry, it will improve quickly. Just keep Credit Utilization ratio very low.

its 734 currently

 

[hitirfan]

its 734 currently

No worries. Mera 10-15 enquiries hai 723 agaya tha from 747. Fir Credit Card use karke, Utilization ratio kam rakh ke 750 above agaya 1 month mai.

 

[Mahirathore360]

No worries. Mera 10-15 enquiries hai 723 agaya tha from 747. Fir Credit Card use karke, Utilization ratio kam rakh ke 750 above agaya 1 month mai.

mene old account close kar k mistake kar di

 

[hitirfan]

mene old account close kar k mistake kar di

Arey koi masla nahi. Loan etc se acha Credit Card se CIBIL theak rehta

 

[Mahirathore360]

Arey koi masla nahi. Loan etc se acha Credit Card se CIBIL theak rehta

ok

 

[Narinder Kumar]

Cibil Score keeps on fluctuating every month. Mostly it varies depending on credit utilisation. For healthy score one must keep credit utilisation below 30 percent of the limit.

 

[Mahirathore360]

Cibil Score keeps on fluctuating every month. Mostly it varies depending on credit utilisation. For healthy score one must keep credit utilisation below 30 percent of the limit.

i usually keep it around 5 to 9 percent

 

[hitirfan]

i usually keep it around 5 to 9 percent

0 rakhoge to badiya rahega

 

[Mahirathore360]

0 rakhoge to badiya rahega

0 rakhne se mna karte hai credit experts

 

[hitirfan]

0 rakhne se mna karte hai credit experts

I kept 0 and my score kept on increasing upto 766. Ab 2% CUR hai to CIBIL Score is 763. Last month CUR 8% tha and CIBIL dropped from 766 to 755.

 

[Mahirathore360]

I kept 0 and my score kept on increasing upto 766. Ab 2% CUR hai to CIBIL Score is 763. Last month CUR 8% tha and CIBIL dropped from 766 to 755.

how many credit cards do you have ?

 

[hitirfan]

how many credit cards do you have ?

7. I have Personal Loan. I heard Personal Loan ki waje se Credit Score kam he rehta hai

 

[Mahirathore360]

7. I have Personal Loan. I heard Personal Loan ki waje se Credit Score kam he rehta hai

7 card income proof se liye the ya only CIBIL based ? personal loan agar jyada ho to hota hai down

 

[hitirfan]

7 card income proof se liye the ya only CIBIL based ? personal loan agar jyada ho to hota hai down

Income Proof. Axis Neo mila tha CIBIL pe but Credit Limit only 27K fir Income proof dekhe 1 Lakh huwi Limit.

 

[Mahirathore360]

Income Proof. Axis Neo mila tha CIBIL pe but Credit Limit only 27K fir Income proof dekhe 1 Lakh huwi Limit.

ok great

 

[hitirfan]

Which Credit cards u have and limit?