Credit Score Issue & Clarification

53°
Deal Subedar
RakeshMajnu
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? Screenshot2024-02-04-11-51-46-203com.google.android.apps.nbu.paisa.user

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Generous Generous
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What's the issue here?

There is no specific public algorithm by which anyone can predict the effect on CIBIL of any actions.

Deal Lieutenant Deal Lieutenant
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Credit mix is shown good. Try to add variety of loans to make it excellent 

Pro Analyst Pro Analyst
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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.

Benevolent Benevolent
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I Think The Problem Is From New Enquiries , Not Utilisation Ratio

Deal Subedar Deal Subedar
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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

Pro Analyst Pro Analyst
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Still, advance payment is not an issue.

BTW, variation below 10 points is normal. Even my score decreased by 7 points without any reason.

replyuser
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