Cibil Score Decreased

59°
Budding Star
bobby_123

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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Entertainer Entertainer
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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.

The PostMighty The PostMighty
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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

Helpful Helpful
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@bobby_123

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

Budding Star Budding Star
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Yes I had closed my first & oldest SBI Simplysave credit card recently.
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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?

Deal Cadet Deal Cadet
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Yes it will decrease you credit history, it would be better if we have long credit history, good to keep old credit cards

Helpful Helpful
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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

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