Understand CIBIL / Credit Score

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Last Comment 2023-09-16

2023-09-16

Hi,

Recently drawn towards CCs and got 2 for my needs and not wants. The idea of money being in my Acc. For 45 or so days gives peace to my mind, even if it is of a low value. Any size of saving is saving.

I want to understand more about this score everyone is talking about and chasing. Some even go to lengths to check and increase it, as I have read in other discussions.

Now directly these are my doubts:

1. Credit score check hits the score.?
I check it from Cred every month.

2. Does it take more than just a month for the CIBIL managing body to make a score..?
So if I take a loan to say then the bank create my file then it takes time to get to CIBIL and then they take time to convert into score.

3. How many points down do your score go when the bank does a hard check on your score or CIBIL profile...?
I don't know what it is called.

4. Pay later services from Amz, Flpkrt etc's relationship with CiBIL..?

5. Any prior relationship with a bank like an account or loan will most likely reduce chances of score hit.?
Yes in my experience. Due to pre-approved offers.

6. Your secret CIBIL score increasing trick and a helpful experience of the same (do's don'ts).

Thanks.
Keep Helping...

Disclaimer

We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.

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https://www.desidime.com/discussions/understand-cibil-credit-score?page=1#post_9554038

G0KU

2023-09-16

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1.No

2.1-2 months

3. Sometimes scores down by 6 points, sometimes don't, all based on your enquiry pattern.

4. These are coint in Personal / consumer loan

5. Does not matter, you having an account.

6. And secret - Faltu time dena band karo cheking score and all. Only do when needful

https://www.desidime.com/discussions/understand-cibil-credit-score?page=1#post_9554052

Mik3M

2023-09-16

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G0KU wrote:
1.No
2.1-2 months
3. Sometimes scores down by 6 points, sometimes don't, all based on your enquiry pattern.
4. These are coint in Personal / consumer loan
5. Does not matter, you having an account.
6. And secret - Faltu time dena band karo cheking score and all. Only do when needful

Thanks.
Looks like a single answer is enough for this discussion.

So paylater won't affect my score.?
It has nice offers, but I don't want to give my pan number to amz or flpkrt

https://www.desidime.com/discussions/understand-cibil-credit-score?page=1#post_9554221

G0KU

2023-09-16

Link Copied

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Mik3M wrote:
Thanks.
Looks like a single answer is enough for this discussion.

So paylater won't affect my score.?
It has nice offers, but I don't want to give my pan number to amz or flpkrt

Paylater does affect scores. And why so ?