Holy Downfall of my cibil score

[u/Time_Grape_335]

I want to know why the heck My cibil got dropped so much last time I checked it was 811 now 698 💔
Whyyyyyyy I had only one late repayment that too 10 min late now whattt???
I have a 10k loan out of which 4K is already paid next emi will be on December and 2500 quick loan which will be paid off in a single go
Can you help me fix this ?

[u/docthestrange]

What do you mean by 10 minutes late? Did you pay at 12:10 AM?

[u/Time_Grape_335 → u/docthestrange]

Yes

[u/AdhesivenessExact385 → u/Time_Grape_335]

Learning punctuality the hard way

[u/docthestrange → u/Time_Grape_335]

What cards do you have?

[u/Time_Grape_335 → u/docthestrange]

No cards

[u/docthestrange → u/Time_Grape_335]

Then what's building your credit history? A score of 811 with only mpocket is.... Unreal

[u/ii114 → u/docthestrange]

I doubt if op got credit age more than 6 months or 1 year. At first loan it will definitely show 700+ but than it starts building credit history

[u/Stunningunipeg → u/docthestrange]

7 loans bro

[u/Rogue_Quark → u/docthestrange]

No one understands how CIBIL works. I have seen many peoples having 800+ CIBIL score with missed payments even with 100+ missed payments (Can't find this post right now). Check this. https://www.reddit.com/r/CreditCardsIndia/s/0fO4kd3x40

https://www.reddit.com/r/CreditCardsIndia/s/4oOkCtEfwK

[u/docthestrange → u/Rogue_Quark]

Bhai CIBIL hi scam hai

[u/Time_Grape_335 → u/docthestrange]

Idk

[u/dudewithacam007 → u/docthestrange]

It doesn't matter if it's late by a min or a day I feel it will simply be considered by the system as a missed payment

I feel it will take a while for u to build it back up

U could make sure u pay ur bills earlier rather than wait for last min

If u have a credit card u can make sure some small amount bill comes every month and then u pay that on time

If u don't have a cc U can get one against an fd (usually the easiest way)

[u/saikat743 → u/dudewithacam007]

Credit cards have a three day grace period after due date for payment. Isn’t the case with other types of loans

[u/itz_me_shade → u/docthestrange]

I missed a payment on my home loan of 20k by a day because of a mistake from my part and only got a 20 point reduction.

[u/DielectricPikachu]

Da hell? no way this happened because of a single late payment. I had like 12 late payments and my score was still above 790

[u/Time_Grape_335 → u/DielectricPikachu]

What should I do now ?

[u/redpeperboyz → u/Time_Grape_335]

Report to bank. If they had followed grace period policy of rbi and if they reported late payment.

[u/Time_Grape_335 → u/redpeperboyz]

I took it from mpokket

[u/Ok-Zookeepergame6020 → u/Time_Grape_335]

Thats a scam app. No one should take loan from these fraud apps.

[u/redpeperboyz → u/Time_Grape_335]

Credit Card 3-Day Rule vs. Personal Loans: While the RBI has specific rules for credit cards (such as a 3-day past-due/grace buffer before reporting or levying late fees), these do not extend as an automatic grace/exemption period for instant short-term personal or digital loans like those offered by mPokket

Unfortunately, you cannot do anything it seems. Unless they want to give you exception

[u/Fun-Marionberry-2232 → u/Time_Grape_335]

Bro I did 6 late payments of mpokket I paid 2 day past the due date

But still they reported it as paid on time I suggest you to wait for this month end and maybe they mark it as paid. (10% chance)

[u/DielectricPikachu → u/Time_Grape_335]

I would first verify with Cibil if a single late payment report caused this huge fall. If its true, request it with bank once to be able to revery the late payment report

[u/Time_Grape_335 → u/DielectricPikachu]

I toook ut from Mpokket

[u/Stunningunipeg → u/Time_Grape_335]

Possible to check with mpocket or their lending partner directly

[u/big-beard-piu → u/Time_Grape_335]

just call the bank and tell them the situation, gets fixed within a week

[u/Silver_Seaweed5890 → u/DielectricPikachu]

Bro OP is new I think? it clearly states no delayed payments..it's not due to hat

[u/AAbrains]

Have you applied for multiple Loans or CCs recently?

[u/Time_Grape_335 → u/AAbrains]

Only 2 loans 10k and 2.5 rest taken and paid back same month

[u/Method1337 → u/Time_Grape_335]

Even if you have taken and paid back the dues the same month, doing this in a repeated pattern can also affect the score. I don't know why you are taking them, but I am not going to judge either. I just suggest you taking loans if not necessary.

[u/AJ_087 → u/AAbrains]

Even if that's the case, this kinda drastic drop won't happen

[u/No_Candidate_5666]

Cooked gng 😭

[u/Silver_Seaweed5890]

Bro it's not because of the delayed payment..if u pay within 30 days with bounce charges, then it will not show up on your cibil

It is due to the 6 new enquiries..my cibil was 786 and i made 5 enquiries for car loan and it dropped to 739...now hopefully the car loan will make it go over 800 😖

[u/itz_me_shade → u/Silver_Seaweed5890]

I have a total of 23 inquiries and 10 of that was made in this year. Mine never went down...

[u/Main_Session_8415]

using 10% of credit limit, 200+ payments on time, no new inquiries and credit history is 10+ years still stuck at 781

[u/Crazy-intuition → u/Main_Session_8415]

I am toh at 655 on-time payments with 7 y history. Still not crossed 800 ever in my life. Either CIBIL is stupid or we don't understand the game lol

[u/-__BaBaYaGa__- → u/Main_Session_8415]

That was the exact comment I was going to write. How the hell did he had 811.

[u/Happy-Departure-9422 → u/Main_Session_8415]

Same! But one of my friends has the same history plus a loan he took for his father. Timely repayment of that too and his cibil went over 800. So I loans make a difference

[u/Character-Title1441 → u/Main_Session_8415]

Credit card kitne h bro 

[u/Character-Title1441 → u/Character-Title1441]

Koi nagetive entry to nhi h 

Reply bro

[u/Main_Session_8415 → u/Character-Title1441]

no single payment is delayed. infact most times I pay as soon as the bill gets generated.

[u/Main_Session_8415 → u/Character-Title1441]

7 cards (I am choosy)

[u/Wonderfonder]

It will come back after some time. Don’t worry

[u/prakashca]

That's because of multiple credit enquiries

[u/Lesshumane]

It fell asleep

[u/Ok-Employ4512]

which app

[u/Stunningunipeg → u/Ok-Employ4512]

Mpocket

[u/Massive_Cream_8757]

I think the cibil score shown in gpay is not accurate, mine also dropped from 755 to 736

[u/Silver_Seaweed5890 → u/Massive_Cream_8757]

It is very much accurate.

[u/Purple_External7979]

6 new enquires... Thats the reason.. check n m sure u will find tht ur score tanked after these enquires..

[u/DISASTERDOOM]

Bro, I think there is a 3 days grace period for late payment or missed payment.

[u/Firm_Comment_8953 → u/DISASTERDOOM]

Only cc

[u/askk2me]

I delayed payment of amex by 3 days, sure I got late fee penalty but amex did not hit my cibil. Dont think banks these days hit cibil without significant delay.

[u/stranger_of_somwhere]

Just take a fixed deposit credit card and boom your Cibil score will go up

[u/another_engineer_06]

quick loan apps are worse, never take loans from them, always try from public, then private bank.

[u/same1135]

I paid one day later my pl emi but not affected in cibil score.

[u/IN31D10US]

I have sent a mail to cibil with bank statement and they corrected my score

[u/TheGhostWhoWalks__]

My CIBIL got from 789 to 759. Every payment was done.. All shows excellent but score going downwards each time. What the hell is happening.. Where to Complain?

[u/Occasion_Antique]

Credit usage says no credit cards. If all loans are paid off then accounts will be closed. So obviously score will go down. If not then check CIBIL report on official site.

[u/timepieceguy1]

It is not due to late payment. May b you have applied for too many credit cards at once and got rejected.

[u/tikhi_pataka]

Coz of your enquiry and 7 active laon

[u/Skilladder]

Trust me these Bureaus are shitty and their algorithms are shitty af in this era of AI. They still use illogical algorithms and also do you know all these Bureaus are US companies. Don't know why Indian banks rely on these outside companies for calculating our Credit worthiness. I suggest you don't give a f__k and continue to use your cards as usual and your score might improve by time.

[u/VisualStaff4318]

Just read your report. The credit report. It must have audited the reason or whatever happened there.

[u/tyrionlannister1012]

You can request the bank. I did the same and got my late payment removed

[u/TJ0K]

Where did July and August go?

[u/Expensive_Two_2412]

If settled within 3 days. There should not be any panelty as RBI have this rule of giving 3 -30 buffer to settle the payment. Check with your card issuer

[u/charging_athens10]

I just got my credit card IDFC QUANTUM +

[u/Spiritual-Wonder6770]

which app are you using to see these detailed report

[u/Important-Delay-6648]

Chill bro same thing happened with me check after a week or so some error in their system

[u/Gullible-Hunter-4308]

As a banker who is into credit telling you that this is very normal i have seen delay payments upto 900 days and then within 2-3 years CIBIL going from 650 to 720. Do one thing Take gold loan for approx 12 months and foreclose it within 6 months atleast you’ll be able to make upto 725 because most of the banks today prefer giving loans with 725+ CIBIL and they dont mind even if your emi were paid with 10 days delay they understand that mistakes happen

[u/dish_rupt]

There’s grace period of 3 days mandated by RBI. I’ve missed couple of time nothing has happened to my score

[u/rmnew201562]

This is because of Something else  as I forget to pay last date due to not in india but cleared within 12 hours,  no reporting by bank to cibil and no charges also , 3 day grace period works.