Dear Sir,
I have applied for a personal loan in Axis bank. They denied the loan due to low credit rating (756 points) in CIBIL report. They also informed me that there is an overdue on a credit card.
On 14-Julm I requested CIBIL to provide me the details of the report (control no: 39816225). Then CIBIL replied with the following:
AccountNum: 70681181101140
Reported By: SCB
Account Type: CREDITCARD
Ownership: INDIVIDUAL
Date Reported: 31-01
Open Date: 20-04
Amount Overdue: 4, 397
Account Status: Written Off
Actually I made the payment of Rs.4, 436 (including Rs.39 towards charges) on 12-Feb. But the Standard Chartered Bank did not update these details in CIBIL.
When I contacted SCB call center, they told that there is Rs.25 outstanding towards some charges on my credit card. I do not know why they charged it even i paid Rs.39 already.
Then I asked them about CIBIL. I made number of calls and sent many mails to the bank on updating the CIBIL. After 2 weeks or so, they said they reversed the charges and arranged the CIBIL update.
Expecting an increased credit score, I applied for the loan again in Axis bank.
The loan request is again denied due to low score in CIBIL. The Axis bank people said that SCB credit card now shows Rs.25 as overdue (not 4, 397) and also shows as the payment is pending for more than 150 days.
This time, to my shock, the credit score is just 642 only (112 points less than previous score).
When SCB updated my last payment in CIBIL, why the credit score has lowered?
I have requested CIBIL to provide me the details of the new report. Waiting for their reply.
Can somebody help to let me know how CIBIL calculates the score and why my score has been lowered?
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