Seeking for recommendations by reviewing CIBIL summary

[Ganesh_Shinde]

I hope this message finds you well. I am writing to seek your guidance and assistance in improving my CIBIL score. My current score stands at 743, which marks a significant improvement from its previous value of 688. However, I am eager to further enhance it to reach the 750 mark or higher.

In the past, I encountered some challenges with my credit history, notably involving write-offs on four credit cards and a plot loan with a significant number of days past due (DPD 900 days). Nevertheless, I have diligently addressed these issues by making all outstanding payments in March 2023. Since then, there have been no instances of ECS bounce, and I have responsibly closed all my credit card accounts.

Despite these efforts, my CIBIL score has remained stagnant at 743 for the past four months. Hence, I am seeking your expert advice on how to strategically elevate my score further.

Here is a summary of my current credit portfolio:

1. Home Loan: Approved for 60 Lakhs, with 22 Lakhs disbursed.
2. Personal Loan: Amount sanctioned is 6 Lakhs.
3. ICICI Secured Credit Card: Limit of 10,000 INR.
4. Plot Loan: Approved for 10 Lakhs.

Based on my CIBIL report, the key areas that require attention include:

- Total Accounts: 28 (Active: 1)
- Credit Card Utilization: 28%
- Age of Credit: 13 Years
- Last 3-Year Credit Inquiries: 35
- Late Payments:
- More than 90 days in the last 1 year: 5 instances.
- Last 36 months: 96 instances.

In light of the above details, I kindly request your professional insights on how I can effectively improve my creditworthiness and elevate my CIBIL score to 750 or above. Your guidance on managing my credit accounts and mitigating late payments would be greatly appreciated.

Thank you for your attention to this matter. I eagerly await your valuable advice and recommendations.

 

[zacobite]

I hope this message finds you well. I am writing to seek your guidance and assistance in improving my CIBIL score. My current score stands at 743, which marks a significant improvement from its previous value of 688. However, I am eager to further enhance it to reach the 750 mark or higher.

In the past, I encountered some challenges with my credit history, notably involving write-offs on four credit cards and a plot loan with a significant number of days past due (DPD 900 days). Nevertheless, I have diligently addressed these issues by making all outstanding payments in March 2023. Since then, there have been no instances of ECS bounce, and I have responsibly closed all my credit card accounts.

Despite these efforts, my CIBIL score has remained stagnant at 743 for the past four months. Hence, I am seeking your expert advice on how to strategically elevate my score further.

Here is a summary of my current credit portfolio:

1. Home Loan: Approved for 60 Lakhs, with 22 Lakhs disbursed.
2. Personal Loan: Amount sanctioned is 6 Lakhs.
3. ICICI Secured Credit Card: Limit of 10,000 INR.
4. Plot Loan: Approved for 10 Lakhs.

Based on my CIBIL report, the key areas that require attention include:

- Total Accounts: 28 (Active: 1)
- Credit Card Utilization: 28%
- Age of Credit: 13 Years
- Last 3-Year Credit Inquiries: 35
- Late Payments:
- More than 90 days in the last 1 year: 5 instances.
- Last 36 months: 96 instances.

In light of the above details, I kindly request your professional insights on how I can effectively improve my creditworthiness and elevate my CIBIL score to 750 or above. Your guidance on managing my credit accounts and mitigating late payments would be greatly appreciated.

Thank you for your attention to this matter. I eagerly await your valuable advice and recommendations.

wait patiently.. it will take a few years before your cibil moves up significantly.. keep paying on time.. the default / delays will hang for a few years.. dont rush and dont expect huge upwards cibil score movement.. it will be v slow

 

[launchcraft]

DEFAULT for any of your loan or credit card hampers your score for almost 5 years because it is just a way of showing that you are not good with your repayments and that banks should not give you any kind of loan or offer you a credit card.
It's very good that you have become financially responsible for you loans and credit report and is paying everything on time and because of that only your credit score is not declining either but you have to wait for it to increase.
I WOULD suggest to have a mix of unsecured and loans loans as it a way of reflecting that you are good with unsecured loans tooo.
AND as you mentioned that you have closed all your cards so it gives a negative impact on your CIBIL by removing that history from you report.
KINDLY download ONESCORE app and check the report or on CIBIL website for free.