Cibil Score Decreased
- 670
- 11
-
- Last Comment
Hi,
From 820 it came to 767 how much time does it will take to recover..
Timely payments done.
what could be the reason for fall ?
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Reasons to fall
Delay / faild to pay bills
High credit utilisation
Too many inquiries recently
You might have closed some old credit cards
I think he closed his oldest credit card or forgot to reply to email to keep the credit card
or
credit card over limit in statement
43 points is to much
Does closing the oldest credit card lead to drop in CIBIL??
The repayment track record is maintained for max 7 years. So what if there are more than 1 credit cards with 7 years history in CIBIL statement & one of them is closed?
Yes it will decrease you credit history, it would be better if we have long credit history, good to keep old credit cards
Don't be too obsessed with Credit Scores...They are just 1 factor among many others...
Payment History matters great deal..
I've had score drop to way down after a shady loan company reported wrong info..But I fought that and got score back in few months
How much is the utilisation?
Reason could be many, may be they are correcting the cibil.
From 767 to 820 it will take more than 6 months.