CIBIL score dropped by 22 points

[Quantum]

Yesterday, the score was 796.
No bill due, nothing. In fact, the last remaining bill was overpaid by Rs. 2 before the bill generation date.
I refreshed the report today, and the score is 774.

Nothing in Alerts section, no SMS from CIBIL regarding any new addition/deletion/update/enquiry.

Only one thing that I could observe is that I have not done any transaction on any of my credit cards post 26th Nov. However, the statement generated for the period 17 Nov to 17 Dec does contain some expenses and bill payment transaction.
In the payment history of cards, the last month is still November. So, it isn't like something was reported for December and that took it down.

Not sure what caused the score to reduce.

Definitely not the surprise I was expecting from 2024 *sigh*

 

[D₹V]

Something must be updated.

Usage or report date of any account.

 

[Yugi]

Check if you have any Pay Later accounts like CRED Flash, Amazon Pay Later etc, usually they are very sneaky and easy to apply but reflect in score drop if you don't have mix of credit products.

 

[the_dark_knight]

Nothing to worry
Cibil score is temporary, payment history is permanent

 

[techt]

Same with me too. Dropped to 795 from 804. No new inquiries, no dues, credit usage ~5%, no BNPLs.

 

[iamdhamo]

When my usage reduced my cibil score dropped and when it increased it stayed the same

 

[coolguy1]

That's weird, a decrease in usage shouldn't lead to a decrease in the CIBIL score.

Can you try using your credit cards for a few transactions in Jan and share an update next month?

 

[Lucifer311]

I checked today, Mine also dropped by 12 points.
I closed my Auto loan 4 months back, in last 3 month i made 2 enquiry but taken only 1 card, no late payment & usage is always below 10%.

What could be the reason?

 

[techt]

Seems some update in the algorithm.

 

[CardGame]

As long as it's above 750-760 range do not worry much about score value. It's all about credit age and ontime payments in the long run.

 

[SSV]

Yesterday, the score was 796.
No bill due, nothing. In fact, the last remaining bill was overpaid by Rs. 2 before the bill generation date.
I refreshed the report today, and the score is 774.

Nothing in Alerts section, no SMS from CIBIL regarding any new addition/deletion/update/enquiry.

Only one thing that I could observe is that I have not done any transaction on any of my credit cards post 26th Nov. However, the statement generated for the period 17 Nov to 17 Dec does contain some expenses and bill payment transaction.
In the payment history of cards, the last month is still November. So, it isn't like something was reported for December and that took it down.

Not sure what caused the score to reduce.

Definitely not the surprise I was expecting from 2024 *sigh*

Seems some update in the algorithm.

This is correct..
They must have implemented new algorithm starting new year.
My score was reduced by 1, from 786 to 785

 

[CardGame]

Score increased by 5 for me. As expected

 

[SSV]

Score increased by 5 for me. As expected

For better comparison,
it is assumed there are no changes in the facts other than refresh date..

 

[CardGame]

For better comparison,
it is assumed there is no change in the facts other than refresh date..

My utilisation in Nov was high(13%) so in Dec I saw a drop of 8 pts from 778...Now utilisation is down(6%) so it's back to 775. No other changes inbetween.

 

[SSV]

My utilisation in Nov was high(13%) so in Dec I saw a drop of 8 pts from 778...Now utilisation is down(6%) so it's back to 775. No other changes inbetween.

Okay, understood..
Had this new algorithm not been implemented (which we are assuming as of now), your score would have increased by more than 5, I suppose

 

[CardGame]

Okay, understood..
Had this new algorithm not implemented ? which we are assuming as of now), uour score would have increased by more than 5, I suppose

I don't think so. I had a similar scenario few months before. They always reduce 5 to 10 and give back 1 to 5 the next month but 1 or 2 months more then it will be back to where it was.

Old scenario same case of utilisation, they reduced 6 pts and gave back 4 the next month and 2/3 more pts in next 2 months

 

[SSV]

I don't think so. I had a similar scenario few months before. They always reduce 5 to 10 and give back 1 to 5 the next month but 1 or 2 months more then it will be back to where it was.

Old scenario same case of utilisation, they reduced 6 pts and gave back 4 the next month and 2/3 more pts in next 2 months

OK.. let's wait for some other users experience..if there is a score reduction with no changes in facts, then new algorithm was definitely introduced which effected negatively

 

[CardGame]

OK.. let's wait for some other users experience..if there is a score reduction with no changes in facts, then new algorithm was definitely introduced which effects negatively

Agreed. Let's see

 

[Credit_Cards]

Even I am on receiveing end CIBIL Dropped by 11points, one of my credit card utilization increased to 28% but overall userage vs limit was still low 4-5% still it dropped. Should be temporarily.

 

[Quantum]

So it seems many are affected.

I raised a new query/request to CIBIL today highlighting this sudden decrease in the score without any change in the facts, via: https://ssp.cibil.com/contact-us/newApplicationForm/csr1f6?
Do mention the old and new CIBIL report control number in your query.

Please use the above link to write to CIBIL regarding this so that they take it seriously and provide some clarification/rationale.

To the folks, for whom the score reduced without any change in the facts, could you please share what is the age of your OLDEST ACTIVE credit card/loan that is being reported to CIBIL?

Asking this as I'm just trying to validate a hypothesis based on the collective data.