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CIBIL increased but Experian and CRIF crashed badly after multiple credit card failed applications

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Deal Captain
raghupro

I always have been very careful in beginning new credit lines, including credit cards but recently got carried away by all lucrative cards and applied for new ones left, right and centre.

HDFC regalia – rejected (always wanted to own a HDFC card so applied for it)
HDFC millenia – rejected
Axis ace – rejected (twice in 3 months)
Axis flipkart – rejected
SBI simplyclick – rejected (just got to know)

My experian score fell from 840 to 729
CRIF fell from 800 to 660 (a drop of 140!)

OneScore app refreshed the CIBIL score today and it went up from 785 to 786 which was quite surprising. I was actually fearing CIBIL score to crash as well but luckily it didnt happen.

Any clue as to what’s happening?

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Deal Subedar Deal Subedar
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If possible attach screenshot of the active line of credits, and the hard inquiries done (mask the personal/card details) from the onescore app or the report for analysis, hard to conclude w/o full report.
However guessing by the scores, it appears that the hard hits might have been made only to non-cibil credit bureaus hence the impact to them, but not to this. Also, you might have increased this months credit utilization on your existing cards, which got reported to non-cibil bureaus first, and still haven’t been reported to cibil yet… something of this sort. Can’t comment much w/o the proper analysis of the masked credit reports.

Deal Cadet Deal Cadet
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Glad i am not the only one. Crif fell to 600 but no change in cibil. Not a conspiracy theorist but could this be a method to stop people from taking loans and increasing npa’s etc?

Deal Subedar Deal Subedar
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xera0117 wrote:

Glad i am not the only one. Crif fell to 600 but no change in cibil. Not a conspiracy theorist but could this be a method to stop people from taking loans and increasing npa’s etc?

Absolutely…it’s a conspiracy theory to sell SBI for peanuts 🤫😉

Deal Cadet Deal Cadet
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My experian score fell from 882 to 838 this month. Unable to see Cibil score for this month from OneScore, it was 769 last month.

Deal Captain Deal Captain
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BlueFlash wrote:

If possible attach screenshot of the active line of credits, and the hard inquiries done (mask the personal/card details) from the onescore app or the report for analysis, hard to conclude w/o full report.
However guessing by the scores, it appears that the hard hits might have been made only to non-cibil credit bureaus hence the impact to them, but not to this. Also, you might have increased this months credit utilization on your existing cards, which got reported to non-cibil bureaus first, and still haven’t been reported to cibil yet… something of this sort. Can’t comment much w/o the proper analysis of the masked credit reports.

Thanks for your comment. Shall attach the full masked report in the evening once I get back home.

My overall and individual credit utilisation is always low, below 10%. Even when there are any high value transactions made, I ensure to pay the card back well before the statement is generated.

Deal Captain Deal Captain
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But I am glad that my CIBIL score is at least maintained well for now.

It’s a lesson learnt well the hard way to never over abuse anything. No more new credit card applications from my end for another year or so.

Perfectionist Perfectionist
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raghupro wrote:

Thanks for your comment. Shall attach the full masked report in the evening once I get back home.

My overall and individual credit utilisation is always low, below 10%. Even when there are any high value transactions made, I ensure to pay the card back well before the statement is generated.

Do you have hdfc savings?
If not, then how did you come to know hdfc is rejected

Deal Newbie Deal Newbie
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My Experian also fell from 790 to 675 after adding 2-3 new accounts ONLY. While CIBIL decreased from 789 to 779 only.

Already dispute raised to Experian to mark 2 accounts closed which is already updated in CIBIL Report.

Deal Subedar Deal Subedar
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Only Cibil matters for Indian Banks and others credit bureaus just copy paste from cibil stuck_out_tongue

Critic Critic
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raghupro wrote:

Their online tracking link showed as rejected. (https://leads.hdfcbank.com/applications/webform...)

I do not hold any savings account with them

One of the easier cards to get is HDFC provided one has savings account with them. I got it this way then suggested to a friend who opened 5000 balance savings account(semi-urban) last year & got moneyback card pre-approved with 30k limit. This was his first card with no credit history.

Variance in credit reports might be due to more hits on those credit unions & earlier reporting of credit utilisation. My Experian fell 3 points & CIBIL 2 points after Axis hard enquiry. This was first hard enquiry on my Experian since beginning.

Deal Subedar Deal Subedar
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too many hard enquiries make you look credit hungry and the rating agencies can portray you as a credit risky person. I’d suggest a cooldown of 2 months at least between hard enquiries
I believe CIBIL will go down in case you do a personal loan hard enquiry, happened with me and even in that case the score went down by 5 pts or so, since it was bank mistake, I got it rectified and then it was back on track

Deal Captain Deal Captain
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avgn wrote:

Even worse for me.
Shows no data found on entering mobile and dob

The application number you are trying is of 16 digits?

Perfectionist Perfectionist
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raghupro wrote:

The application number you are trying is of 16 digits?

I didn’t get application number of 16 digits
Its 12 digit one so I tried with DOB

Deal Captain Deal Captain
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avgn wrote:

I didn’t get application number of 16 digits
Its 12 digit one so I tried with DOB

Looks like the application number isn’t generated yet. You will receive an sms with it

Deal Lieutenant Deal Lieutenant
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….I think its not possible that after so many rejections your cibil is not hit…

…Wait for next 3 month reports…you will find gradual or sharp decline…sorry bro…hard fact….
Perfectionist Perfectionist
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raghupro wrote:

Looks like the application number isn’t generated yet. You will receive an sms with it

Already 19 days gone. Hdfc has the worst process for card application

Deal Subedar Deal Subedar
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Some issue with experian, I think. Already, there are two threads about it wherein Ive mentioned about my experience. My Experian also went down by nearly 150 points and CRIF by around 120 points in July/August.

On analysis, had found that they had mistakenly mentioned IDFC saving balance as overdue loan. Tried contacting them but couldn’t find experian contact details. However, they rectified themselves in next report (Current month) and my rating is again back to 750+ in Experian and 780+ in CRIF.

Didnt check CIBIL last month during this issue but I checked now and it is around 770. So, check if you have any unknown overdue loan amount in your report.

Deal Captain Deal Captain
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still_guessing wrote:
….I think its not possible that after so many rejections your cibil is not hit…

…Wait for next 3 month reports…you will find gradual or sharp decline…sorry bro…hard fact….

I don’t mind as long as it holds on for 15 days. My home loan sanction letter is approved and will complete technical clearance in 15 days. Not even sure if any cibil check would be there after sanction letter in generated though.

Post that I don’t intend to open any new credit lines for next 1 year or so anyways.

Deal Captain Deal Captain
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avgn wrote:

Already 19 days gone. Hdfc has the worst process for card application

Wait until you try axis biggrin

Deal Captain Deal Captain
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cashif wrote:

Some issue with experian, I think. Already, there are two threads about it wherein Ive mentioned about my experience. My Experian also went down by nearly 150 points and CRIF by around 120 points in July/August.

On analysis, had found that they had mistakenly mentioned IDFC saving balance as overdue loan. Tried contacting them but couldn’t find experian contact details. However, they rectified themselves in next report (Current month) and my rating is again back to 750+ in Experian and 780+ in CRIF.

Didnt check CIBIL last month during this issue but I checked now and it is around 770. So, check if you have any unknown overdue loan amount in your report.

Good suggestion, let me check

Perfectionist Perfectionist
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raghupro wrote:

Wait until you try axis biggrin

Already having due to savings account stuck_out_tongue

Deal Cadet Deal Cadet
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Looks like Experian changed there Algorithm. My score is decreased while Cibil is marginally increased as well and I have heard similar stories from others as well

Deal Lieutenant Deal Lieutenant
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I think now a days many r not considering Experian score now crif score is introduced n cbil is normal.same happened for me fell 100 points nearly now at 700 but cbil no change

Deal Lieutenant Deal Lieutenant
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raghupro wrote:

I don’t mind as long as it holds on for 15 days. My home loan sanction letter is approved and will complete technical clearance in 15 days. Not even sure if any cibil check would be there after sanction letter in generated though.

Post that I don’t intend to open any new credit lines for next 1 year or so anyways.

Good bro…congrats for ur home..

Talk-Of-The-Town Talk-Of-The-Town
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Same Bro
CIBIL score is reasonable,
CRIF and EXPERIAN are high AF.
At least you can justify drop because of too many rejections. Mine got reduced after petty approvals 🤣🤣 .
I also posted yesterday similar query, got good suggestions from everyone. Tonight came to know ICICI increased CC limit 3 times.

Talk-Of-The-Town Talk-Of-The-Town
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raghupro wrote:

Wait until you try axis biggrin

Some got it fast bro 😅
Let’s hope they process other applications faster.

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