Cibil score dropped by 16 points

[asm07]

Hi,
I was having cibil score of 795. Around 3rd week of March I closed my Flipkart Pay Later and Amazon pay later. Yesterday I was checking cibil on one score app and it showed me my new score 779, dropped by 16 points. Flipkart pay later closure is not reported to cibil yet and surprisingly amazon pay later is reported closed even in a short period of time. Credit utilisation was 2% in February and 3% in March. I was hoping cibil will improve or at least remain constant after closing BNPL. Then why does it drop so many points?

 

[SSV]

Hi,
I was having cibil score of 795. Around 3rd week of March I closed my Flipkart Pay Later and Amazon pay later. Yesterday I was checking cibil on one score app and it showed me my new score 779, dropped by 16 points. Flipkart pay later closure is not reported to cibil yet and surprisingly amazon pay later is reported closed even in a short period of time. Credit utilisation was 2% in February and 3% in March. I was hoping cibil will improve or at least remain constant after closing BNPL. Then why does it drop so many points?

Yesterday mine also gone down by 5 points from 802 to 797 for no apparent reason .

 

[mrbanker]

Cibil keeps tweaking their score algo annually. Don't expect linear logic to follow in your score.

 

[asm07]

Cibil keeps tweaking their score algo annually. Don't expect linear logic to follow in your score.

2-3 points is understandable. 16 points is hard to digest.

 

[helloworld]

2-3 points is understandable. 16 points is hard to digest.

 

[Zacobite]

Hi,
I was having cibil score of 795. Around 3rd week of March I closed my Flipkart Pay Later and Amazon pay later. Yesterday I was checking cibil on one score app and it showed me my new score 779, dropped by 16 points. Flipkart pay later closure is not reported to cibil yet and surprisingly amazon pay later is reported closed even in a short period of time. Credit utilisation was 2% in February and 3% in March. I was hoping cibil will improve or at least remain constant after closing BNPL. Then why does it drop so many points?

if credit utilization was 3.% and 2% before.. that maybe a factor + bnpl effect will come nxt month and will stabilize.. bnpl may also be considered a credit line so may count as closure of credit..

 

[asm07]

if credit utilization was 3.% and 2% before.. that maybe a factor + bnpl effect will come nxt month and will stabilize.. bnpl may also be considered a credit line so may count as closure of credit..

Hopefully. Flipkart pay later from IDFC is mentioned as personal loan and Amazon pay later from karur vyasa+ axio is mentioned as consumer loan in cibil.

 

[SSV]

Yesterday mine also gone down by 5 points from 802 to 797 for no apparent reason .

I am sure it will be back in 800's soon for me.. just a temporary phenomenon

 

[asm07]

I am sure it will be back in 800's soon for me.. just a temporary phenomenon

Hopefully same will happen with me when both the pay later accounts are closed on cibil.

 

[SSV]

Hopefully same will happen with me when both the pay later accounts are closed on cibil.

Most likely it will

 

[Vasuki]

Yesterday mine also gone down by 5 points from 802 to 797 for no apparent reason .

2-3 points is understandable. 16 points is hard to digest.

Chew hard.

I was talking to idfc social media team on call . regarding cibil issue.

They too said cibil is changing its policy in so many different thing.
though it has nothing to do with problem I was facing ..
he said now for updation it take 10 working days ( max of) from 7 working days which was earlier

 

[SSV]

Chew hard.

I was talking to idfc social media team on call . regarding cibil issue.

They too said cibil is changing its policy in so many different thing.
though it has nothing to do with problem I was facing ..
he said now for updation it take 10 working days ( max of) from 7 working days which was earlier

This is just BAU

 

[JAM]

Every month for the past 3 months.

 

[Yugi]

Hi,
I was having cibil score of 795. Around 3rd week of March I closed my Flipkart Pay Later and Amazon pay later. Yesterday I was checking cibil on one score app and it showed me my new score 779, dropped by 16 points. Flipkart pay later closure is not reported to cibil yet and surprisingly amazon pay later is reported closed even in a short period of time. Credit utilisation was 2% in February and 3% in March. I was hoping cibil will improve or at least remain constant after closing BNPL. Then why does it drop so many points?

Maybe you spiked up individual utilization on some card even though your overall utilization is low. Happened with me too, I dropped 10 points when this happened, still trying to recover from it.

 

[techt]

This is just BAU

BAVANA ni mudduga BAU antunnara ?

 

[SSV]

BAVANA ni mudduga BAU antunnara ?

Bhavana... not Bavana.. I got hurt.. you didn't pronounce my Bhavana properly

BAU = Business As Usual..

 

[SSV]

I am sure it will be back in 800's soon for me.. just a temporary phenomenon

Hopefully same will happen with me when both the pay later accounts are closed on cibil.

As expected , my score is back to normal... within 2 days ...

 

[asm07]

As expected , my score is back to normal... within 2 days ...

Oh nice. I don't have cibil subscription so I'll have to wait few weeks to see changes.

 

[Zacobite]

Every month for the past 3 months.

mine keeps moving by 1..up and down.. lol.. algo dancing

 

[credit_noob]

Not related to post i am done with these scores.
My Experian score fall 20 points per week 820 to 730 no reason.
At 733 applied kotak Myntra rejected multiple enquiries in Experian for single application written mail got removed.
Now back to 800 in 14 days 80 points increased.
Everything is useless,no meanings for things.