[Experian] Recording invalid utilised Credit amount in the past

[aayusharyan]

I was checking the history of my Experian report on BankBazaar and interestingly saw this trend.

In June of this year, for some reason the Credit Utilisation was reported as 37 Crores for my home loan. Now in the latest report it seems corrected, but should I be worried about the history of credit utilisation amounts? I don't know if their history is also tracked in calculation of scores. Anyone has had a similar experience? Should I fight with my Home Loan provider for this error, but then this has already been reflected, so does it matter anymore?

All suggestions are welcome.

 

[RishiKiDev]

I don't think credit utilisation history matters much than current credit utilisation.
Not much to worry.

 

[NShah]

@S S V kuch help kar sakte hai

 

[aayusharyan]

I don't think credit utilisation history matters much than current credit utilisation.
Not much to worry.

So, I just let it go in that case? 🤔
Daamn, I was mentally preparing for a nice fight over emails.

 

[RishiKiDev]

So, I just let it go in that case? 🤔
Daamn, I was mentally preparing for a nice fight over emails.

I have myself experienced it.
In May I had a big purchase (ultrasound machine) so my utilisation for the month went to 70% in one credit card.
My CIBIL score decreased by 10 points
Next month in june my total credit utilisation was 2% and my CIBIL jumped back even 3 points higher than before.

 

[SSV]

@S S V kuch help kar sakte hai

I was checking the history of my Experian report on BankBazaar and interestingly saw this trend.

In June of this year, for some reason the Credit Utilisation was reported as 37 Crores for my home loan. Now in the latest report it seems corrected, but should I be worried about the history of credit utilisation amounts? I don't know if their history is also tracked in calculation of scores. Anyone has had a similar experience? Should I fight with my Home Loan provider for this error, but then this has already been reflected, so does it matter anymore?

All suggestions are welcome.

let it go.. you are fine as the facts are represented now correctly

 

[SSV]

let it go.. you are fine as the facts are represented now correctly

It is actually reflects that you are are a great customer who had spent 37 crores and repaid it successfully with out any default..

 

[aayusharyan]

I have myself experienced it.
In May I had a big purchase (ultrasound machine) so my utilisation for the month went to 70% in one credit card.
My CIBIL score decreased by 10 points
Next month in june my total credit utilisation was 2% and my CIBIL jumped back even 3 points higher than before.

Yes, but then this is not a result of my action right. If it was my purchase, it would have been fine.
But, I also get your point, no point in fighting over it as it has been corrected now.

 

[RishiKiDev]

Yes, but then this is not a result of my action right. If it was my purchase, it would have been fine.
But, I also get your point, no point in fighting over it as it has been corrected now.

As @S S V already said it's beneficial for you to have this in your record. Works in your favour.

 

[aayusharyan]

let it go.. you are fine as the facts are represented now correctly

I am not sure, but just to confirm, Credit Utilisation ratio is counted, but is the history of utilisation ratio also counted in calculation of credit worthiness?

 

[aayusharyan]

It is actually reflects that you are are a great customer who had spent 37 crores and repaid it successfully with out any default..

Haha, I wish I was in a financial situation to easily clear off a 37 Crore loan in less than 6 months. 💰

 

[SSV]

but is the history of utilisation ratio also counted in calculation of credit worthiness?

No . . as I said you have repaid that huge money without default.. even if it considered you will be the first person they want to lend the money

 

[RishiKiDev]

No . . as I said you have repaid that huge money without default.. even if it considered you will be the first person they want to lend the money

Totally agree with you

 

[aayusharyan]

No . . as I said you have repaid that huge money without default.. even if it considered you will be the first person they want to lend the money

Okay, I got it. Makes sense yea. Thank you.

 

[aceventura]

I have myself experienced it.
In May I had a big purchase (ultrasound machine) so my utilisation for the month went to 70% in one credit card.
My CIBIL score decreased by 10 points
Next month in june my total credit utilisation was 2% and my CIBIL jumped back even 3 points higher than before.

What was your typical utilization ratio before May? Did your CIBIL change after the rise in June?

 

[RishiKiDev]

What was your typical utilization ratio before May? Did your CIBIL change after the rise in June?

My utilisation always varied between 2-10% of total credit limit.
Yes my CIBIL score increased after rise in june.

 

[aayusharyan]

@RishiKiDev @S S V
Haha, you folks were right. I just checked my Experian score history. Damn that improved my Credit Worthiness. I was very naive to worry about that. 🙈
My Experian score went from 810 to 832 when they fixed the total credit utilisation.

 

[SSV]

@RishiKiDev @S S V
Haha, you folks were right. I just checked my Experian score history. Damn that improved my Credit Worthiness. I was very naive to worry about that. 🙈
My Experian score went from 810 to 832 when they fixed the total credit utilisation.

The score should have been 932 instead of 832 , considering your spend of 37 crores and subsequent successful repayment…

(speaking metaphorically)

 

[aayusharyan]

The score should have been 932 instead of 832 , considering your spend of 37 crores and subsequent successful repayment…

(speaking metaphorically)

Haha yeah, Fir seedha RBI se Credit Card ke offers aate. /s