Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 20th September 2017, 17:57   #196
BHPian
 
Pequod's Avatar
 
Join Date: Oct 2015
Location: TVM, COK
Posts: 35
Thanked: 23 Times
Default Re: Now have Access to your CIBIL Credit report

Quote:
Originally Posted by Pancham View Post
Guys, apologies for the late reply...
Experian and Transunion CIBIL are two different agencies, and scores are mutually exclusive.
Regarding difference in score, I have seen quite a few cases where cibil reports/scores generated by the consumer vary from those generated by Bank/FI, sometimes as high as 200-300 points.

The best course for you would be to take the matter up with SBI and get them to report the correct position of your loan to CIBIL. They cannot be absolved of responsibility for this. Please note however that after updating, it might take up to 2-3 months for the score to improve.

Quote:
Originally Posted by jinojohnt View Post
5. No outstanding loans
This. Having no loans also results in score decreasing over a period of time, since CIBIL is essentially your 'credit history'.
Pequod is offline   Reply With Quote
Old 20th September 2017, 18:27   #197
BHPian
 
jayantvs's Avatar
 
Join Date: Aug 2017
Location: KA01/OR02/CG10
Posts: 105
Thanked: 124 Times
Default Re: Now have Access to your CIBIL Credit report

Quote:
Originally Posted by jinojohnt View Post
.........Am I missing something?
Quote:
Originally Posted by akhil994 View Post
......So your score has not decreased to 823 from 900 , but rather it has climbed up from the base score to 823, which is an excellent score.
What Akhil mentioned is correct. The CIBIL score starts from a lower value (either 1 or 750) and goes up, not the other way around.

Quote:
Originally Posted by StarrySky View Post
Is your entire loan history available with CIBIL? .....
Ideally it should contain the entire loan history. It could have happened that the banks did not report the transaction. Since you mentioned that you have an outstanding home loan, the score will improve in few months.
jayantvs is offline   Reply With Quote
Old 20th September 2017, 18:37   #198
Senior - BHPian
 
vinit.merchant's Avatar
 
Join Date: Jan 2008
Location: Pune
Posts: 1,121
Thanked: 925 Times
Default Re: Now have Access to your CIBIL Credit report

I just checked my score out of curiosity. And it came to 833.
How is it calculated is what confuses me. Because I have a home loan since 5 years now. A car loan started 8 months back. A couple of credit cards, one of which is hardly used and the other was used only to accumulate points, up until July, after which Diners devalued the points. So now it is just used bare minumum.

Contrary to this, one of my colleague who probably earns double of me at least, has no home loans (stays on rent) and a sedan he bought a year back was entirely on credit card, paid on settlement date without delay. But still his score is around 770. How is that possible?
Do they consider the value of the home as an asset value and hence work out that I have a better borrowing to net worth ratio?

PS: It surprisingly had the entire history of my loan. Even a car loan applied for in 2005 but later booking cancelled also appeared there, something which even I had forgotten about. They also displayed an overdraft facility attached to my savings account by Citibank on its own, and on complaining was removed.

How I wish I had known of this score when taking the car loan. I could have asked them to shave off another 0.5 off the loan. ROI is 9.5%

Last edited by vinit.merchant : 20th September 2017 at 18:42.
vinit.merchant is offline   Reply With Quote
Old 20th September 2017, 19:04   #199
BHPian
 
jayantvs's Avatar
 
Join Date: Aug 2017
Location: KA01/OR02/CG10
Posts: 105
Thanked: 124 Times
Default Re: Now have Access to your CIBIL Credit report

Quote:
Originally Posted by vinit.merchant View Post
.....Do they consider the value of the home as an asset value and hence work out that I have a better borrowing to net worth ratio?...
The purchase of the Sedan would have spiked up the credit utilization on the credit card which impacts the credit score negatively. Even after repayment this takes some time to get back to previous level as compared to a secured loan like Home or Auto loan.
jayantvs is offline   Reply With Quote
Old 21st September 2017, 08:17   #200
BHPian
 
Join Date: Aug 2009
Location: Trivandrum
Posts: 913
Thanked: 367 Times
Default Re: Now have Access to your CIBIL Credit report

Quote:
Originally Posted by StarrySky View Post
Is your entire loan history available with CIBIL? My score is similar to yours (I have an outstanding home loan). I have taken and closed loans for various purposes earlier like you have done, but these do not appear in my "Account Information" in CIBIL website. Two of my friends have their (closed) loans dating 7-10 years back listed in CIBIL website. Both have outstanding loans now, but their scores are above 850.
I looked at the free annual report, which doesn't contain details. I need to pay for detailed report, hence not able to verify whether the entire history is shown.
jinojohnt is offline   Reply With Quote
Old 21st September 2017, 09:41   #201
Senior - BHPian
 
Join Date: Apr 2010
Location: EU - Nordic
Posts: 1,551
Thanked: 930 Times
Default

Quote:
Originally Posted by jinojohnt View Post
I looked at the free annual report, which doesn't contain details. I need to pay for detailed report, hence not able to verify whether the entire history is shown.
The "View Report -> Account Information" link shows my outstanding loans. For my friends, it shows their old loan information as well. None of us have opted for the paid service.
StarrySky is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
The Devil in CIBIL (reports) kingjulian Indian Car Loans & Insurance 61 27th June 2017 13:25
Paid someone else's credit card bill by mistake. EDIT - Now Resolved. Spinnerr Shifting gears 15 14th April 2015 11:20
Credit Suisse Report: The Indian Auto Sector, 2013 GTO The Indian Car Scene 10 28th November 2013 11:57
Want Nano? Swipe your Credit Card, says Tata GTO The Indian Car Scene 22 7th March 2013 23:23
Now, one-time-password for credit cards from 1st, Jan 2011 GTO Shifting gears 38 29th December 2010 20:09


All times are GMT +5.5. The time now is 01:57.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks