Credit score drop by 130 points for Suspicious credit enquiry

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Tekk

Today I have checked my Experian score and found that score dropped by 130 points..

Screenshot20240413-111810


Only difference is an enquiry made today..and that enquiry is not from a lender..

"Search Type - Consumer Search

Credit Institution Name Bureau Disclosure Report with

Customized Match V3"

Anyone have idea about this type of credit enquiry?

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Those are all time.. credit age 9 years

Deal Lieutenant Deal Lieutenant
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@Tekk

Even for 9years 89 enquiries means you are credit hungry.


Deal Subedar Deal Subedar
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https://www.experian.in/credit-services/consume...

This is their new scoring module which was launched in 2023 aimed to evaluate digital first customer profile including BNPL & affordable housing etc..... Hope that gives some idea for your score drop 

In general, the V3 score will be 50 points or so lower than the V2 score.

@Tekk @Harrier

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Post Emperor Post Emperor
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Credit enquiries 89 😲

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Those are all time.. credit age 9 years

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Deal Cadet Deal Cadet
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I have the same enquiry on my civil and score reduced close to 100.

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Your Score recovered after that?

Deal Newbie Deal Newbie
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IMG7483

Deal Newbie Deal Newbie
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Happened to me too...55 points got reduced

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So your enquiry also made on 13th April.. What could be the reason..do you know more information about this..

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Deal Subedar Deal Subedar
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https://www.experian.in/credit-services/consume...

This is their new scoring module which was launched in 2023 aimed to evaluate digital first customer profile including BNPL & affordable housing etc..... Hope that gives some idea for your score drop 

In general, the V3 score will be 50 points or so lower than the V2 score.

@Tekk @Harrier

Deal Newbie Deal Newbie
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But why we are forced for V3 implementation? 

Shouldn't they give option to users to  opt for V2,V3 etc?
What if we want to continue with V2?

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Benevolent Benevolent
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Same issue here. Yesterday afternoon checked through CRED. It was 790.  In evening checked through Kiwi app and it showed a new inquiry and dropped to 725. Did you check through Kiwi app ?

Deal Subedar Deal Subedar
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V3 is known to reduce score by 50 points acc to Experians own explanation so it's obvious

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Post Emperor Post Emperor
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Beside cibil and experian, is there any other portal/service we have to keep in check.

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Most lenders consider CIBIL and EXPERIAN..

Some lenders check CRIF and EQUIFAX Too..But you don't need to worry too much about these 2 credit agencies..

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Generous Generous
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Ek sath bahut logo ka hua hai to something not for your worry.. i didnt checked mine.. but no msg related yet

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You won't get any message..you have to check Experian score through cred,one score, freecharge, kiwi..etc..

Generous Generous
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NEW FEAR unlocked.

Entertainer Entertainer
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Mine also dropped by 98 points. My experian was 898. Is this something I need to be worried about or happening with everyone? 

e7cb4bac-4d8e-4328-b02b-e62f8ec71326


Analyst Analyst
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fire🫡CIBIL🫡 fire
Deal Cadet Deal Cadet
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Just checked my score also reduced from 816 to 784 drop of 32 points

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