Which of the Following Does Not Impact Your CIBIL Score

The CIBIL score is not impacted by the below-mentioned factors:

Account Balance

Your CIBIL score is not affected by your savings or current account balance, the policies you hold or the premiums you pay. It is only impacted by your loan account details, such as, timely repayments, credit utilisation ratio, number of credit enquiries, loan rejection count, etc.

Monthly Income

Your monthly income has nothing to do with your CIBIL score. However, unstable income might lead to missed EMIs and credit card bills which might then negatively impact your CIBIL score.

Soft Enquiries

When an individual checks his/her own credit score/report, it is known as soft enquiry. Since the enquiry is made to seek your own credit information and not by the lenders for lending purpose, it does not affect your CIBIL score.

Employment Profile

The applicant’s job profile has no direct impact on the CIBIL score. However, a consistent job is essential to qualify for a loan or credit card. Applicants with a stable job are considered worthy of making timely repayments which would then increase their credit score.