Credit Score Issue & Clarification
- 493
- 7
-
- Last Comment
Today I Refreshed My Cibil Score In Google Pay, When I Refreshed My Credit Score It Is Decreased By 8 Points Stating That "You've Used Your Credit Limit By -33.29%"
Actually, I Kept Advance Balance/Credit Limit In One Of My Credit Card Keeping In Mind That I'll Use That Limit In This Month (SBI Credit Card)
But Keeping Excess Credit On Top Of Given Limit Affected My Credit Score
Can Anyone Please Say, Is Something Wrong Here For Decreasing In My Credit Score?
Actually, I Kept Advance Balance/Credit Limit In One Of My Credit Card Keeping In Mind That I'll Use That Limit In This Month (SBI Credit Card)
But Keeping Excess Credit On Top Of Given Limit Affected My Credit Score
Can Anyone Please Say, Is Something Wrong Here For Decreasing In My Credit Score?
6 Comments
|
5 Dimers
- Sort By
https://www.desidime.com/discussions/credit-score-issue-clarification?page=1#post_9862718
Credit mix is shown good. Try to add variety of loans to make it excellent
https://www.desidime.com/discussions/credit-score-issue-clarification?page=1#post_9862950
The culprit seems to be the "8 new enquiries".
Multiple enquiries in a short period of time do affect the Credit Score. It sends a sense of Credit Hunger of the User.
https://www.desidime.com/discussions/credit-score-issue-clarification?page=1#post_9862969
I Think The Problem Is From New Enquiries , Not Utilisation Ratio
https://www.desidime.com/discussions/credit-score-issue-clarification?page=1#post_9863091
Actually It's Even More In Previous Months, I Stopped Applying Cards From Past 3 Months, Those Displaying 8 Enquires Are From Last 6 Months Data, It's Not The Reason @UniqueDimer @UnderNation
https://www.desidime.com/discussions/credit-score-issue-clarification?page=1#post_9863204
Still, advance payment is not an issue.
BTW, variation below 10 points is normal. Even my score decreased by 7 points without any reason.
Click here to reply
Reply
What's the issue here?
There is no specific public algorithm by which anyone can predict the effect on CIBIL of any actions.