Credit score fell 158 Pts in just 6 months from 877 to 719 without any reason
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Hi Guys,
My Credit score took a sharp dip from Feb 2021 this year, without much fault of mine.
100% of timely payments before the due date, Reasonable credit limit spends (20% of limit acc to Experian), 6 active accounts (1 Amazon icici credit card with 70k limit and a few NBFC types for Amazon pay later, Flipkart pay later, zest money, Paytm postpaid and Bajaj Finserv)
6 credit enquiries were made in the last one year, (two of which are from last week – Axis approved, Citi rejected after 2 KYC)
Opinion, information on mistakes I did and how to fix this are welcome 🤗
Added necessary report information for analysis, https://ibb.co/f...wP
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They were already there for quite some time, petty amounts like 4k~5k.
Should that cause this much drop?
Is it a good idea to close all of them at once, I heard closing account causes more drop.
I have already asked Zest to close my account.
sab credit card credit score chal rha hai dd pe
haa bhai pata ni kyaa hai
mera to 800 hai aur mujhe koi redit card ni chahiye. amazon pay later ka band karaya abhi tak chlra hai , band hi ni hua . Try kar le ye bhai bhi. Flipkart pay later kaha to nahi but shayad vo inactivate ho gya hai . paytm postpaid chlta thaa but ab aa hi ahi raha vo.
This is your experian score right?
Experian is 719,
Transunion is 776
haa bhai pata ni kyaa hai
mera to 800 hai aur mujhe koi redit card ni chahiye. amazon pay later ka band karaya abhi tak chlra hai , band hi ni hua . Try kar le ye bhai bhi. Flipkart pay later kaha to nahi but shayad vo inactivate ho gya hai . paytm postpaid chlta thaa but ab aa hi ahi raha vo.
See This @guest_999
@getready
Huge Drop Of CIBIL. Score
सभी pay later अकाउंट्स बंद करा दो….कृपा आनी शुरु हो जायेगी
Yes pay later are considered personal loans, the worst kind of debt for credit score, According to @BlueFlash
Previously I Have Amazon And Flipkart Pay Laters
Two Months Back I Closed Both
Now I Have Only Unsecured CCs
Most probably enquiries are the reason.
Better close zest and Bajaj pay later accounts. Remaining are OK to keep.
And don’t worry much, you can easily improve Experian scores. Just go slow. Don’t close all at once and don’t apply all at once. Use amount as you need but maintain less amount in generated bills. Try to get pre approved cards. Everything will go back to normal. (No guarantees just based on my experiences as no one knows their algo)
My Experian scores fluctuated -50 to +50 from last 1 year and right now settled at 857. During the same period bloody Cibil is stuck at 784 as if they deliberately freezed it even though all data is updated regularly.
Yeah, Cibil seems more reliable to me. Btw, for monthly tracking should i just pay up for transunion subscription or use free hdfc type services.
Generating free cibil report is a pain (tried hdfc today but i don’t know how long that’ll work). Experian reports can be sourced.
Wrong score for the month by Experian?
My Experian score dropped to ~700 in Jan 2020 (from 820+). I assumed that the score drop was due to multiple cc applications (Around 3) but I was wrong. When I generated the Experian score next month, it was normal again
@PowerStar
saare cards paylater bnd kr do….cibil 900 ke par ho jaega….fir naacho.
Fir cibil scores hi use krna amazon aur flipkart pr b….kyuki cibil bnane ke liye to saare cards aur paylater bnd kr rhe…
Bhaiya, jab ghar lene ke liye home loan lene ka waqt aega na, tab cibil ki ehmiyat pata chalegi… CIBIL score might be overrated, but the report isn’t. Your credit report needs to be clean ! These multiple paylater services makes them dirty as hell… Once you are in need of a home/car loan, then you will understand the significance of it.
@ULYSSES
Is One score projection reliable?
It projects that my score will go up by 10 pts in October.
While in reality i am expecting it to go even down because of Citi rejection.
i can see icici personal loan enquiry of 1.5L in my cibil report whereas i hv not taken or authorized any one for this. how do i know who did it?
ICICI BANK
10/03/2021
Personal Loan
1,50,000
You have your answer here, pretty interesting stuff going on 
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Only score that matters is CIBIL which is above 750.Nothing to worry.
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Too many pay later accounts is probably the cause.