CIBIL score dropped by 65 points with just 1 enquiry from HDFC BANK.

[Humanbeing]

Hello TF Community,
I received the mail from HDFC Bank for the Pre-approved credit card with LTF, so I applied the process online & while checking the CIBIL score today it was reduced by 65 points with merely a single enquiry from HDFC Bank. Is this normal? I have no loan, credit card, BNPL services, I just had applied my first credit card because of Pre-approved credit card and daily mail from HDFC bank. Kindly pour the suggestions so I can regain my CIBIL score above 750.

 

[SplendorSuperman]

Whats your credit age ?
Also Preapproved cards dont hit CIBIL.

 

[Humanbeing]

Whats your credit age ?
Also Preapproved cards dont hit dit age Also Preapproved cards dont hit CIBIL.

Credit age is 1.5 years and I received the mail from HDFC with defined credit limit and that too LTF.

 

[SplendorSuperman]

Credit age is 1.5 years and I received the mail from HDFC with defined credit limit and that too LTF.

Very odd.

Did you get the card?
Try to pay extra than billed amount i.e. maintain outstanding balance in negative.
This will help you recover and better score in future hopefully.

Also take break from applying new cc for few months atleast.

 

[Shroud]

I have no loan, credit card, BNPL services

Credit age is 1.5 years

How is this possible?

 

[Humanbeing]

Very odd.

Did you get the card?
Try to pay extra than billed amount i.e. maintain outstanding balance in negative.
This will help you recover and better score in future hopefully.

Also take break from applying new cc for few months atleast.

Thanks for your input.
My application is in process and don't think it will get approved as my area is not serviceable.

 

[Vasuki]

Hello TF Community,
I received the mail from HDFC Bank for the Pre-approved credit card with LTF, so I applied the process online & while checking the CIBIL score today it was reduced by 65 points with merely a single enquiry from HDFC Bank. Is this normal? I have no loan, credit card, BNPL services, I just had applied my first credit card because of Pre-approved credit card and daily mail from HDFC bank. Kindly pour the suggestions so I can regain my CIBIL score above 750.

Not odd , if your cibil is light weight this happened to many in past few month
For detail
Share your cibil report with @SSV
He might tell u if there is irregularities or just cibil algorithm playing with you

 

[Humanbeing]

How is this possible?

I had opened Niyo account with SBM Bank, that created my CIBIL.

 

[Vasuki]

How is this possible?

Happened to many In past not new cibil algorithm keeps changing..
Let him share the report

 

[Vasuki]

I had opened Niyo account with SBM Bank, that created my CIBIL.

See it will be back ..
Keep using your cc which I got .

How much limit in hdfc ? Which card

 

[Humanbeing]

See it will be back ..
Keep using your cc which I got .

How much limit in hdfc ? Which card

Don’t have any CC as of yet.
Limit was 50K & card was Moneyback +.

 

[sid16]

It's probably because your credit profile is close to non existent. You don't need to worry. Get some pre-approved credit cards and start your journey. Make all payments on time and build a good credit card portfolio. All this will go away. My CIBIL shows 10 credit enquiries in last 3/4 months and 13 enquiries in last 12 months, and my CIBIL points have gone down by just 5 points because my overall portfolio is strong.

 

[varun__goel_]

Hello TF Community,
I received the mail from HDFC Bank for the Pre-approved credit card with LTF, so I applied the process online & while checking the CIBIL score today it was reduced by 65 points with merely a single enquiry from HDFC Bank. Is this normal? I have no loan, credit card, BNPL services, I just had applied my first credit card because of Pre-approved credit card and daily mail from HDFC bank. Kindly pour the suggestions so I can regain my CIBIL score above 750.

Chill brother
Your there's no cibil history in your case. Even a small change can make huge impact on cibil. Nothing to worry about

Also Preapproved cards dont hit CIBIL

HDFC does once application is submitted

 

[s1t2y3a3m6]

Your CIBIL drop has no relation with HDFC enquiry.

If you haven't any credit in your pan for a period of time CIBIL would automatically drop with time.

Presently you have no issues. So get a credit card and pay your bills regularly, it would get increase again.

If unsecure not possible just take a FD card atleast.

 

[Humanbeing]

In 1.5 years
1. total enquires..
2. total accounts..
3. reported credit limit..
4. utilization ratio..
5. Any defaults...

???

and for nth time, CIBIL score not depends on last month score but overall association, which I believe no one cracked yet. I also want to know if someone find a way or pattern in CIBIL.

and moreover these are not accurate systems, and for that now anythig above 750 is okay. Worry only if it falls, which happened in your case. so definitely either you missed the payment or over leveraged in short time.

1. Zero till this one I applied with HDFC few days back.
2. One and that too was closed by SBM bank itself.
3. Don’t have full report as checked only in GPay.
4. Zero
5. Nil
I never applied for any credit card, loan or any pay later services.

 

[SplendorSuperman]

HDFC does once application is submitted

Honestly, had no idea about this.

 

[Abhi5467]

It's probably because your credit profile is close to non existent. You don't need to worry. Get some pre-approved credit cards and start your journey. Make all payments on time and build a good credit card portfolio. All this will go away. My CIBIL shows 10 credit enquiries in last 3/4 months and 13 enquiries in last 12 months, and my CIBIL points have gone down by just 5 points because my overall portfolio is strong.

Decent card for instant offers but HDFC doesn’t increase limit 6 monthly. Axis gives periodic limit increase ( not fixed though) still is better than HDFC. Use it while your CIBIL increases.

 

[Humanbeing]

To be clear:

- you don't have any credit product reported till now
- and this is your first credit card
- and first enquiry

and expecting it should be above 750.

Is that correct?

Yes, that is correct.

 

[Humanbeing]

If you had no credit products your score should be 'NA', not some number >750.



shouldn't ask this questin in next 12 months. everything is normal and will come to your satisfaction in mean time. It takes time. Whatever app/website showed your score might have no option to show 'NA', so randomly kept that number. Check official CIBIL for accurate details.

Apply moderately and pay on time, in short time like even 3 months you'll see your score 750 above and in 12 months it will be stable, provided you didn't surprized CIBIL with additional cards/enquiries etc.

Not really.
I have checked my CIBIL score on official website & it was above 775 & same was with One score, GPay, Airtel etc.

 

[Humanbeing]

without any credit products, how can they generate score that too with 775?

Bro, Niyo SBM had created the credit card with limit of 25K.