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.

 

[helloworld]

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

CIBIL score not depends on last month score but overall association, till now your score 775 with SBM card contributed that score.

Note: Here, your score reduced/increased solely depends on SBM card because you had 0 enquiries and no other credit products.

You closed that card.. now, ideally CIBIL doesn't have any credit product to refer your score, whatever contribution SBM card has will come to affect in due time whenever you apply new product.

And you applied new product now, which had one enquiry + new account. So, on safe side CIBIL reduced your score and will improve in mean time.

--
My opinion.. ignore if irrelevant, but one thing clear its not depend on last month score or this month enquiry or this month new credit.. its overall combinations from the beginning that affect your score.

 

[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.

And today it is back to 800 inspite of 13 enquiries in the last 12 months. As I said, no need to worry too much.