CIBIL dropped from 780 to 730sh

[citboins234]

I am not regular in checking my cibil. Last i Checked was 2 years ago and it was 780. I checked today, it shows 732. IDK what happened. In cibil reports, payment history is 100% on time, Utilization is around 8-9%. Only 3 new inquiries in last month. I closed one CC in 2022 which was from 2017. I have 1 Edu loan closed and oldest credit card is 2 yr 9 months. What could have caused the dip? also, is there any way we can see historical cibil score? so that i can find when exactly it dipped?

 

[Akashn]

I closed one CC in 2022 which was from 2017.

My guess is because of this

 

[SSV]

I am not regular in checking my cibil. Last i Checked was 2 years ago and it was 780. I checked today, it shows 732. IDK what happened. In cibil reports, payment history is 100% on time, Utilization is around 8-9%. Only 3 new inquiries in last month. I closed one CC in 2022 which was from 2017. I have 1 Edu loan closed and oldest credit card is 2 yr 9 months. What could have caused the dip? also, is there any way we can see historical cibil score? so that i can find when exactly it dipped?

My guess is because of this

Yes, your six year old gone.. hence the drop

 

[citboins234]

My guess is because of this

How much time will it take to recover? any guess?

 

[Akashn]

How much time will it take to recover? any guess?

6 months. .

 

[citboins234]

6 months. .

thanks friend. have a good day

 

[SSV]

How much time will it take to recover? any guess?

How many cc s do you have?
Make overall utilisation less than 1 to 2 % and each account also as less as possible, you will see jump to above 750 in about two to three months

 

[citboins234]

How many cc s you have?
Make overall utilisation less than 1 to 2 % and each account also as less as possible, you will see jump to above 750 in about two to three months

I have 3 CCs. Thats challanging, but i think I can manage.

 

[citboins234]

Can early loan closure have any effect (good or bad) ? I have a vehicle loan which i can close in 2 3 months. but its scheduled to close in 2028

 

[SSV]

Can early loan closure have any effect (good or bad) ? I have a vehicle loan which i can close in 2 3 months. but its scheduled to close in 2028

Close it no problem, even if there is any effect, it’s only going to be short lived..

 

[Vasuki]

How much time will it take to recover? any guess?

Buy Cibil 6 month subscription & find out yourself.
Usually it should make a big jump upto 750 ish in 2-3 month

 

[Vasuki]

Can early loan closure have any effect (good or bad) ? I have a vehicle loan which i can close in 2 3 months. but its scheduled to close in 2028

Loan close has no effect.
Age too isn't gone

 

[Vasuki]

I have 3 CCs. Thats challanging, but i think I can manage.

Chill .
You will be good by march /april

 

[deep@vie]

I am not regular in checking my cibil. Last i Checked was 2 years ago and it was 780. I checked today, it shows 732. IDK what happened. In cibil reports, payment history is 100% on time, Utilization is around 8-9%. Only 3 new inquiries in last month. I closed one CC in 2022 which was from 2017. I have 1 Edu loan closed and oldest credit card is 2 yr 9 months. What could have caused the dip? also, is there any way we can see historical cibil score? so that i can find when exactly it dipped?

That's why I'm tolerating this HDFC card which is oldest😀

 

[Vasuki]

That's why I'm tolerating this HDFC card which is oldest😀

I closed hdfc thats why 😅 hdfc is 8-9 month old .
Axis 7-8 month 😅.
Hdfc can't touch me now .

 

[deep@vie]

I closed hdfc thats why 😅 hdfc is 8-9 month old .
Axis 7-8 month 😅.
Hdfc can't touch me now .

Even I'm thinking of cancelling hdfc & get it again but it's almost 8 Yr old & second oldest is just 2yr old.
Will await some more time.

 

[SSV]

Even I'm thinking of cancelling hdfc & get it again but it's almost 8 Yr old & second oldest is just 2yr old.
Will await some more time.

Don’t do it , because big difference.. may be after home loan

 

[deep@vie]

Don’t do it , because big difference.. may be after home loan

Yes @S S V that's why I'm not doing it.
Thanks for the input.

 

[Vasuki]

Even I'm thinking of cancelling hdfc & get it again but it's almost 8 Yr old & second oldest is just 2yr old.
Will await some more time.

U can close when
You have no plans of getting new card in 3-5 month time .
You have to plan out i guess.

 

[deep@vie]

U can close when
You have no plans of getting new card in 3-5 month time .
You have to plan out i guess.

I already have 12. Cancelled one yesterday.
Yes, trying to figure out how it should be done in order to minimise the damage.