CIBIL Score 2.0 – An Improved version of Credit Scoring

POSTED BY Jagoinvestor ON October 18, 2012 COMMENTS (99)

CIBIL has recently come up with Cibil Transunion Score 2.0 which it calls an improved version of the CIBIL Credit Score. This new Credit Score will help in a better identification of new borrowers (having credit history of less than 6 months) and help classify them into risky and not-risky categories.

More about CIBIL Score 2.0

The biggest change here is that the CIBIL Score 2.0 is for new borrowers who have a short credit history, i.e. 6 months. So now there will be two classes of borrowers

1. Less than 6 months of credit history 

Any borrower having less than 6 months of credit history earlier used to get a score of 0. But with CIBIL 2.0 , they will get a score in between 1 to 5, where 1 represents high risk of default and 5 denotes least risk of default. This score between 1-5 will depend on parameters like 90 days overdue in any given month (for last 24 months), credit seeking activity (number of loan enquiries you make), type of credit (secured or unsecured) and the demographic (age , location etc.)

This move is going to help a lot of people who are very new to credit and have recently taken credit cards or have taken some kind of loan and need another loan. There have been instances that due to their short credit tenure, they didn’t have any credit score and a lot of bank rejected their applications for loan just because they didnt have one.

2. More than 6 months of credit history 

For those who have more than 6 months of credit of any kind, for them the credit score will be in range of 300 to 900 score, just like earlier. However, it seems like this scoring method will consider only higher scores like 800+ as the better score. As per this firstpost article, it says that an old score of 751-800 will now be equivalent to something like 662-697 in the new score version .

For borrowers with more than six months of credit history, the old scoring criteria 300-900 remains, but for the lower score you get. For instance, the old score of 751-800 will be equal to 662-697 in the present one.

The newer version is initially made available only for CIBIL’s 862 member banks and financial institutions, after which it will be available for the customers as well, he said, without giving an exact timeline for the completion of the process.

Cibil Score 2.0 is a better Score

This new CIBIL score is said to be a better indicator of someone repayment capability. It has been designed keeping in mind the Indian market and the way consumer behavior is changing from last some years.

 “CIBIL TransUnion Score 2.0 predicts risk more powerfully as this scoring model has been customized for the changing Indian market and consumer behavior. This scoring model will enable banks to better identify good customers, thereby enabling them to provide credit to more consumers and increase credit penetration and financial inclusion in the country.”

– said Mr. Arun Thukral, Managing Director, CIBIL

The new CIBIL score is tested by the company old random data and it seems to identify the risky customers in a more better way. Here is a snapshot of results I found out on transunion website. You don’t really need to understand this graph, just get that this identifies risky customers in an improved manner.

Old vs New CIBIL Score 2.0

Now, The credit institutions that have adopted the new scoring model will decide on customer’s loan application based on this new score. So it would be interesting to watch out the credit score banks ask for giving loans .

What do you think about this new cibil score 2.0 and the changes which has taken place ?

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99 replies on this article “CIBIL Score 2.0 – An Improved version of Credit Scoring”

  1. Ashok says:

    Hi my CIBIL Score is 649 according to cibil trans union 2.0 .i heard that 750-800 is changed to 662-697 .is it true ?


      1. Ashok says:

        Thanks Manish. So my score is good or ??

        1. Its not a great score. You should target 750+

  2. Ramesh says:


    My CIBIL score is 867. Is it good. I want to get a Home loan for 5 Cr. ?

  3. padmanabham says:

    Hi Manish,
    My CBIL transunion score is 662.
    Is it a good score or bad one.

    Will it be good to get a housing loan?

    1. Its not that great score !

  4. Anirudh says:

    my CIBIL score is 708, am looking for taking a home loan? will it be approved? and where do I check for remarks in the CIBIL report?

    1. You can check it on . NOte that apart from score, you need to first look at the reports remark

  5. Nilesh says:

    Hello Manish,

    My credit score as of now is 744. I am planning to buy a house. What do you think is an ideal score to get approved for a home loan.

    Also, request you to please share what all factors are taken into consideration when one applies for a Home Loan.


    1. Hi Nilesh

      744 is decent score, but more than score, banks will check your CIBIL remarks.

  6. Shaikh Sameer says:

    Hi have score of 751 i am govt salaried employee can i get personal loan immediately with the cibil score of 751

    1. Credexpert says:

      Dear Sir,

      751 is a decent score. As an industry practice, a score of 750 and above is considered to be a good score, but having said that lending institutions would also consider their internal credit policies and will have their own credit score cut off.

      It is advisable that you check with the lending institution you are planning to apply for the personal loan regarding your eligibility and then proceed with the application.


    2. Its not the score, but the report remarks which matter !

  7. brijes says:

    what is procedure increasse cibil score “0” to up750 give me method

    1. Credexpert says:

      Dear Sir,

      A score of ‘0’ means that you do not have enough credit history to build your credit bureau score. A lending institution with a conservative risk appetite might look at it negatively whereas a lending institution with aggressive risk appetite might approve your credit application.

      We would suggest that you directly approach the bank you are planning to apply for a credit card and understand their eligibility criteria.

      Also, using a secured credit card is one option you could look at to build your credit history and score. You could opt for a “secured” credit card. Since these credit cards are secured against “Fixed deposits”, you would possibly get one without any hindrance. Make timely repayments against it to build your score.


    2. Make sure you pay your due on time for next 2 yrs !

  8. Harinath says:


    I have taken Personal Loan on 2007 of 1,00,000 for term 3 years from the ICICI bank but i paid all the interests including the prinicipal amount and due to bad recession effected in the year 2008, i missed 6 EMI’s pending and still i havn’t closed my Loan account.
    I’m receiving auto generated email communications from the ICICI bank including with the late payment and total out standing amount is now 50,000.
    Can i get the PL,If i pay the outstanding amount in equal instalments and close the account successfully.

    Appreciate your quick reply.

    Thanks in advance,

    1. Credexpert says:

      Dear Hari,

      First and foremost, we would suggest that you pay the total outstanding amount and close this loan account. Once this account is closed, you need to wait for 30-45 days for your account to be updated and then check you credit score and ensure that it is up to the mark.

      As an industry practice, a score of 750 and above is considered to be a good score, but having said that lending institutions would also consider their internal credit policies and will have their own credit score cut off. We would suggest that you do not make any further applications until there is an improvement in your credit score. The rejection would only increase the number of enquiries appearing on your credit report which indicate a credit hungry behaviour and is viewed negatively by lending institutions.

      Build your score by making all your credit card and EMI payments, if any, towards your loan accounts on time. Overtime your score will improve and lending institutions could consider your applications based on this.


    2. Yes if you pay full amount, then you might get another loan , but more you delay , tough will be the chances

  9. vikas chadha says:

    IF my current CIBIL score is 788 on-8th oct 2014 how will u rate this please reply

    1. Credexpert says:

      Dear Vikas,

      As an industry practice, a score of 750 and above is considered to be a good score – the higher the better. However, each lending institution will have their own internal credit policies on score cut-offs and negative remarks, based on which the decision to approve any of your credit application will be taken.

      The approval of any of your credit application would be at the discretion of the lending institution based on their credit policies.

      The general points to look for in your credit report are:
      1) Late payments
      2) High outstanding balances
      3) High no. of unsecured loans
      4) High no. of enquiries


    2. Does not matter

      What matters is your CREDIT REPORT STATUS and remarks !

  10. Credexpert says:

    Dear Amit,

    797 is a good credit score. As an industry practice, credit scores of 750 and above are considered to be good; the higher the better.

    Each time you apply for a loan or credit card, the credit institution would obtain your CIBIL credit report to evaluate your credit worthiness. This appears as an “Enquiry” on your credit report. High number of enquiries are viewed negatively by credit institutions since it indicates a credit hungry behaviour. This also impacts the credit score.

    We would suggest that you stop making any random applications for loans or credit card unless you genuinely need it.


  11. amit deoli says:

    Hi ,

    I have a CIBIL score of 797. What that means. Way back i got call for Personal Loan and for fun I asked them to give me 10k of loan and they have reported to CIBIL. What this means. I checked my eligibility for car loan and later purchased on cash but that is also showing in CIBIL report. Please help me in understanding same. Will it effect my eligibility if i really require loan may be in future. I have one credit card with no issues in payments as max i use my debit cards.

    Please guide

  12. roshan says:

    Hello Manish & Credexpert,
    I am reproducing a query what i put in a forum so that the answers given may benefit anyone who reads this article.

    I have the following observations from my CIBIL report.

    a) Only credit cards i have used were included in the report. My existing home loan was not reflected in this report .Should i file a dispute with CIBIL for this or do i need to contact my bank ?

    b) The credit cards include the corporate credit cards issued in my name which was used when i had to travel overseas . Now if my company had not settled dues on time would it have reflected badly on me?

    c) The credit card not in use anymore do not have anything written against the status
    suit filed/wilful default: –
    written-off status :-
    written-off amount(total):-
    written-off amount(prinicpal):-
    settlement amount:-
    This means that the cards were closed properly after paying all dues right?

    d) DPD had entries 000 or XXX . XXX means bank has not given information to CIBIL. will this be considered a negative?


    1. Can you also give the forum link !

      1. roshan says:

        Hello Manish,

        Link to the forum as requested :


    2. Credexpert says:

      Dear Mr. Roshan,

      a) Every lending institution has to be a member of any one credit bureau. Thus it is a possibility that the bank from where you took the home loan is not a member with CIBIL but a member with any of the other credit bureaus- Experian or Equifax. Therefore it is not being seen on your CIBIL report. However, you may check with the bank if they are a member with CIBIL and in this case you can raise a dispute with CIBIL for updating your home loan information. Make sure you raise the dispute within 60 days of accessing the credit report.

      b) Yes, since the credit card is on your name, you need to make sure the dues are being paid on time by you or the company. Late payments on credit cards with your name will reflect on your credit report and will be viewed negatively by lending institutions.

      c) Firstly, you need to check if the remark ‘Date Closed’ has a date on it. If not, you need to ask the respective bank to update the same. Only then it will be considered as duly closed.

      d) Yes, XXX means the lending institution has not reported the information to CIBIL. Had you been paying the dues on time, it could have worked negatively for you as lending institutions would view on time payments positively. Whereas if you had not been paying on time, it could work positively for you as lending institutions would view late payments negatively.


  13. roshan says:

    Hello Manish,
    I have got my credit report this week and it is 797. Is this CIBIL 2.0 score? Is this good enough for takeover of home loan? what was surprising is that my existing home loan was not listed in the report at all !!!


    1. Credexpert says:

      Dear Roshan,

      Your existing home loan should be reflecting on your credit report and score . If you have been repaying on time, then the reporting of this account would help improve your credit score.

      Although, 797 is a good credit score, higher scores are always advisable.

      If you have been making timely repayments and have a good credit behaviour, then we do not see any hindrance to your application. However, the bank would take its decision based on its credit policies and hence cannot be commented on.


    2. Yes , its 2.0 .. note that most of hte banks check the status in report and not much the score ! .. its secondary ..

      797 is good btw

      Next, check with your bank why they are not updating your EMI’s payment for loan with CIBIL ?

  14. Nishant Saket says:

    Hi Manish,

    I have got my credit report last week and it is 751. I had missed out few credit card payments last year, in-total 4.

    Now I am planning to apply for a car loan of amount about 6L. I am planning to get it from SBI.

    Is my score good enough to get me loan?

    Nishant Saket

    1. Its not score, but the STATUS on your report . If you have missed some payment, its CAN have an impact on the decision of the lender . Have you missed on the full payment ? Did you finally pay the full amount or not ?

      750 is a good score overall

  15. Nishant Saket says:

    Hi Manish,

    I got my credit report last week and it is showing 751. I had missed few payment of credit card in year 2013, total of 4 (including my Citi and Standard Chartered CC).

    Now I am planning to apply for car loan of amount around 6L.

    Is my score good enough to get the loan?

    1. Credexpert says:

      Dear Nishant,

      As an industry practice, 751 is a decent credit score. However, each lending institution would have its own credit score cut off basis which it would either approve or reject an application.

      Late payments are viewed negatively by lending institutions and more recent they are, higher is the impact.

      The best way to find out is by applying to the lending institution and awaiting their response. In case of rejection, kindly do not make any further applications unless there is an improvement in your credit score.


      1. Nishant Saket says:

        Hi Credexpert,

        Thanks for your response. One more thing I wanted to clarify, like if a apply for loan and it gets rejected. Then what would be ideal time that I should wait to re-apply, assuming I will keep all my credit card bills cleared on time. As since last one year around my credit card is clear, with no remark or late payments.

        Nishant Saket

        1. Credexpert says:

          Dear Nishant,

          Ideally you should reapply after a period of 3-5 months. Assuming you are repaying your loans/credit cards on time, your credit score would improve gradually over this period of time.

          Ensure, that if you are rejected once, do not reapply unless you work towards the improvement of your score.


  16. pratap says:

    Hi Manish,

    I have generated my Cibil score on 18th Dec score should be 697. Is this the good score?
    Am I eligible for Personal loan?
    If not what is the minmun score to eligibile to apply personal loan?

    1. Credexpert says:

      Dear Pratap,

      As an industry practice, a score of 750 and above is considered to be a good score, but having said that lending institutions would also consider their internal credit policies and will have their own credit score cut off. We would suggest that you do not make any further applications until there is an improvement in your credit score. The rejection would only increase the number of enquiries appearing on your credit report which indicate a credit hungry behaviour and is viewed negatively by lending institutions.

      Personal loans are high interest loans (unsecured) and our suggestion would be that you analyse your monthly cash inflows and outflows along with any existing EMI(s) you have been paying. Apply for a loan amount that you think would not burden your monthly budgets.

      Build your score by making all your credit card and EMI payments towards your loan accounts on time. Over time your score will improve and lending institutions could consider your applications based on this.


    2. Credexpert says:

      Dear Pratap,

      As an industry practice, a score of 750 and above is considered to be a good score, but having said that lending institutions would also consider their internal credit policies and will have their own credit score cut off. We would suggest that you do not make any further applications until there is an improvement in your credit score. The rejection would only increase the number of enquiries appearing on your credit report which indicate a credit hungry behaviour and is viewed negatively by lending institutions.

      Personal loans are high interest loans (unsecured) and our suggestion would be that you analyse your monthly cash inflows and outflows along with any existing EMI(s) you have been paying. Apply for a loan amount that you think would not burden your monthly budgets.

      Build your score by making all your credit card and EMI payments towards your loan accounts on time. Over time your score will improve and lending institutions could consider your applications based on this.


    3. I think its a low score from personal loan point of view. you should have above 750-800 and a clean report !

  17. Credexpert says:

    Dear Sandeep,

    No, credit scores are not valid for any specific time duration.

    Any credit activity undertaken will have an impact on the credit score – positive or negative. Some examples include – closing of loans/credit cards, late payments, enquiries, high credit utilization etc.

    801 is a good score but there could be a increase or decrease in your score depending on your credit behaviour. To minimize any possibilities of rejection, we would suggest that you could obtain your credit report and score before applying for loan.


    1. sandeep says:

      Thanks Credexpert for your inputs.

  18. sandeep says:

    Hi Manish,
    I received my CIBIL on Jul 21,2013 and It was 801.
    How can i be sure if i apply for loan after sometime, the score will be the same?
    Do i have to apply for online score again?
    Is there any specific time period till which this score is valid?

    Thanks in advance.

    1. The score changes each month .. but the change will not be very big if you do not do something wrong ! .. So if your score is 801 right now .. I think you can apply for loan assuming that the score wont deviate 5% up or down .. !

      1. sandeep says:

        Thanks Manish as always.

  19. Madhan says:

    I have checked my score on Jan 2013 and it is 671. In that report I came to know that there is some outstanding in ICICI credit card. Then I have paid that full outstanding immediately.
    After that they offered me an Instant Credit card based on Fixed Deposit to improve my CIBIL score. Now am using that card only for paying bills from last one month.
    Now am planning to go for Housing loan in Jan 2014. Is it possible for me to get the loan or it will get rejected?
    Please answer me.

    1. There can be a straight no or yes. Check your score again and see what remarks are still lying on your report ?

    2. Credexpert says:

      Dear Madhan,

      Only your credit report and score could give details about the updation of the account and the improvement in your credit score, if any.

      It would be best to avoid any speculation in relation to your credit score. Kindly obtain your credit report by visiting


  20. Dilip Kumar Singh says:

    I got my CIBIL report on 2nd aug 2013 and score was 708. then applied for loan from SBI and they again got the cibil report on 29th aug 2013 but this time score was 624 only.
    from 2nd aug to 29 aug i have not applied for any loan or credit card. and both report contents are identical.
    so how can the score be different in the same month if both the reports are identical.

    1. Contact CIBIL on this . Not sure why the scores are different !

    2. Credexpert says:

      Dear Mr. Singh,

      The time gap between the dates of both the credit report is almost of a month.

      We note that you have not applied for any credit facility in this gap but any other credit activity like non payment of dues, high utilization of credit card etc. could be one of the factors that could have resulted in this difference.

      Kindly ensure that both the reports are identical in terms if all these minute details as well. This would help to understand and evaluate the cause for the drop in your credit score.


  21. Gaurav says:

    In most of the CIBIL reports I obtained from different banks as per RBI guidelines making it mandatory for banks to provide the same to me,I can see theres something written as Score Card Version:10.
    What does it exactly mean?

    1. Gaurav

      I am actually not sure on that, where exactly is that word written ? Why is it such a big concern ?

      1. Gaurav says:

        Its written in the next line to Control No,Date of enquiry,member ID,CIBIL Transunion Score.
        I found this written only in few reports obtained from different banks and not in those reports which I retrieved.
        Its no concern for me.Just asking for my knowledge.

        1. Actually even I am not sure about it, however I think it might be code for different banks .

    2. Credexpert says:

      Dear Gaurav,

      The CIBIL report obtained by you as an individual is different from the report obtained by the lender with respect to the formats. However, the details are the same.

      Score card version is probably an internal identifier and has no relevance to your credit score.


      1. Gaurav says:

        Ok thank you sir for confirming the same.

  22. Vishal Dube says:

    I recently checked my CIBIL Score on 05-01-2013 and it showed 847. I applied for a Personal Loan in Bajaj Finance and it got Rejected. When asked about the reason, they said that the CIBIL Score is very less. It was 650 on 10-01-2013.
    I had 3 Personal Loan Accounts in 2007 (HDFC BANK 1,00,000/- , ICICI Bank 50,000/- and Citi Bank 24,000/-) and had a total 30 ECS Bounce. I corrected my mistake by repaying the entire overdue and Closing all the accounts. All the accounts were closed by August 2011. I later applied for Home Loan and was approved on December 2011. My Financials have been stable since. Now when I am trying to get a personal Loan, it is getting rejected stating that the Score is low (650)and has many EMI Bounces. My Net take-home Salary is 70K and the Home Loan EMI is 21K.
    I checked the CIBIL Score and it shows 847.
    My questions are:-
    1) I understand that I made a mistake of having the EMI Bounces in HDFC Bank, however I cleared everything and closed the account in August 2011. How long will I have to wait so that HDFC can Lend me again? (As my Salary Account is with HDFC.).
    2) Why there is a huge difference in the CIBIL Score (around 200) when I get the report of 847 and the Lenders See the score as 650. If I have to correct that how should I do it? It should either show 650 or 847 to both Me and the Bank Lenders.

    1. 1. Mistakes of EMI bounce will be captured in the DPD section , you cant get rid of it before 2-3 yrs .. Banks has their own interpretation of how seriously they want to take it , some banks might take it seriously and other not that much .

      2. This is something which should not happen ideally. Can you check your CIBIL score once more and see how much is it now ?

      1. Vishal Dube says:

        Thank You Manish,
        This helps clear my doubts.
        I do not need any Loan now. So appliying for Loan after 2-3 years should be ok right?
        I will get the CIBIL Report to cross verify again.
        By the time, I only have a Home Loan from the past year and the EMIs are going fine. So that will help the CIBIL Score to improve, right ?

        1. Yes.. just keep paying your EMI on time . in 1-2 yrs you will be on track !

      2. Mani says:

        I got CBIL Transunion score as 1 what was that is that harm to me/

    2. Credexpert says:

      Dear Mr.Dube,

      As a consumer you are entitled to ask the bank a copy of the credit report on the basis of which your application was evaluated. This will help clarifying the difference between the score obtained by you and by the lender.

      The EMI bounces will be reflected on your credit report as late payments and will make the lender view your report negatively.

      Continue paying regularly and your score will improve gradually (assuming it is 650) over the next months.


  23. Lingaraj says:

    Thanks a lot for the information.

    I have recently (17th Jan 13) got my CIBIL report Is it new CIBIL 2.0 score?
    and my score is 723, is it good score to apply for home loan? kindly advice.

      1. Credexpert says:

        Dear Lingaraj,

        Yes, 723 is a good score to apply for a Home loan.


        1. Lingaraj says:

          Thank you very much Credexpert team.

      2. Lingaraj says:

        Thanks a tone Manish.

  24. Rikhath says:

    Hi Manish,

    I have a credit score of 813 as per my latest report dated 12/12/12.
    I applied for personal loan and it got rejected from Citi where i have a Salary Acc, also over draft request was rejected by them and also from Stan Chart and Bajaj?
    and on the report i saw multiple requests from each of these banks for different loan amounts, I was looking at 3L loan and these banks ran credit request for 1L,2L and 3L.

    Then StanChart approved a loan for 1.5L and they told me as i was looking for 12 months tenure this is what they can offer and i rejected the loan. They told me i can get 3L loan only if i choose for minimum 3 years tenure.

    I had a ABN Amro Credit Card which i requested the bank to close they didnt close it and billed me for it for years and ultimately they called me after couple of years to tell me i have money due to the bank, and i was forced to settle it.
    They billed RS. 36,000 in interested and i paid them 14K to close that account. Thats the only remark on my Cibil report.

    I have colleagues with Cibil score lesser than 750 having Credit cards, personal loan and over draft facility and i am not able to get it.

    My question to you is –
    1) will my credit score fall if banks run a credit review?
    2) If it falls, will it fall for multiple credit reviews by the same bank, though i didnt authorize them to do so.
    3) if Cibil deducts my score what number will they deduct for each credit check.
    4) What are my next best options to secure a loan or a credit card.


    1. Note that your problem is the SETTLED account , which you paid less and not in full , thats one you need to fix .

      When you enquire for loan at some bank , only that entry goes into your report , and depending on the situation it can lower your score !

      Now at this point of time, the best thing you can do is pay off the outstanding amount to the loan which you didnt . That will bump up your score !


    2. Credexpert says:

      Dear Rikhath,

      The fact that your applications are getting rejected in spite of having a good score of 813 shows that are certain elements in your credit report that are making lenders view your credit report negatively. From the series of events mentioned by you, we think the possible reasons for rejection of your applications is the high number of enquiries on your credit report.

      Every time a lender reviews your credit report, there is an enquiry that appears on your report. High number of enquires indicate that you have been shopping for credit facilities. Also as you settled the ABN AMRO credit card, there will be “settled” remark on your report which indicates your inability to service your loan.

      Below are the specific answers to your questions :
      1) Yes, your credit score could fall every time a lender reviews your credit report as these enquiries are 1 of the factors considered for calculation of scores.
      2) Multiple reviews by the same lending institution will affect your score. If you have not applied to them for credit facilities, then these enquiries have to be removed from your credit report.
      3) Credit scores are based on various factors like Demographics, repayment history, outstanding balances, number of secured & unsecured loans, enquiries etc etc. It would be difficult to comment the impact that each of these factors could have on your score.
      4) We would recommend you to clear all the discrepancies appearing on your credit report before you apply for a loan or credit card.


  25. Credexpert says:

    Dear Mr.Kumar,

    The answer to whether you would get a personal loan will depend on your credit score. Your earlier score of 697 is an average score but more can be commented on your score only after you obtain your CIBIL Score 2.0. Obtain your CIBIL Score 2.0 and apply to the lending institution.


    1. Souvik De says:

      Recently I came to know that my cibil score is low due to bad repayment track of a personal loan from ICICI Bank. I took a personal loan from the ICICI Bank of Rs. 60000/- for a term of 3 years on 24.03.2009. Due to serious financial crisis I missed 12 installments from time to time but immediately during the same month with bouncing charges. All the above cases I always communicated with the bank about my financial disability to pay on the due date verbally.Once the crisis was over I did not miss a single payment for last 10 months and successfully completed my loan tenure on 18.04.2012. I also have the NOC given by the said bank.The Bank has never provide me with any information about the effect of the bouncing installment on my cibil score. Now even after one year of completion of my loan my cibil score is still low and ICICI Bank has mentioned me as chronic defaulter. As a common man I donot have much knowledge of these issues but these are creating hurdles in my way to live a better life. Kindly advise what to do so that my cibil score quickly boost up the score.

      1. Souvik

        Ignorance is not an excuse here . Its not about informing and not informing you about it , Its about the process. All banks report each month history to CIBIL , and its gets reported . So what they have reported is reality . Over next 1-2 yrs , if you are very desciplined, your score and report should improve.

  26. Shashi Kumar says:

    I had some credit which I cleard all outstanding amount. (before my CIBIL score is 697 now i don’t know what is my CIBIL score version 2.0 )

    How good or bad it is?

    I don’t have any credit card with me now and I want to take personal loan immediately…even i have closure certificate(NOC) from Bank. Now can i apply for a loan on this CIBIL 2.0 Score.?


    1. 697 is not a great score, you should try for more .. sadly there is no immediate solution here and you might not get it asap !

  27. Arun says:

    Recently i had applied for a credit card was got rejected due to cibil score 632.

    Now i am need of personal loan but it won’t work, what should i do, please help me………!

    1. You cant do anything at this point of time , accept it !

      You need to improve it first and only then you might get it , see this

  28. ConsumerCredit Expert says:

    Hello All, CIBIL Score 2.0 will be around 70 to 80 points lower than the previous version. So if you had a score of 750, you should expect a score of around 670. CIBIL’s scoring formula had weakened considerably due to which they had to update it. Remember the fact that a lot of customers got higher scores due to fault in CIBIL score 1.0 logic, not because they had great credit. The new version does justice and no doubt, it will cause pain to a lot of customers (who are at the receiving end), but it is good news for the credit system and banks in general.

  29. Ashish P says:

    Hi Manish,

    I checked CIBIL website, press releases and trusted newspapers.
    Nowhere has CIBIL mentioned lowering the “scale” for consumers having credit history of more than 6 months.
    I concur with “Jason Braganza” above and I believe there will be no change in the score range for 300 to 900 due to introduction of 1 to 5 scale of version 2.0 for new consumers (less than 6 months credit history).
    I got my CIBIL credit score back in Feb’12 and after reading this post today, tried contacting CIBIL for understanding impact (if any) to people like me (with more than 6 months credit history) — but CIBIL is closed today on account of “Eid”.
    I will contact CIBIL on Monday and will let this group know what I heard from them.

    Thanks & Regards,
    Ashish P

    1. It has been all over the news and from a press release . Check with them too . You will come to know about it .

      1. Ashish P says:

        Just went off the phone with CIBIL Mumbai Office.
        YES, with introduction of 2.0 scoring formula — it lowers the score for consumers with more than 6 months Credit history and who obtained Credit Score from CIBIL prior to Oct 2012.
        I requested CIBIL to release a press note to clarify this situation and explain impact of 2.0 in the interest of all existing consumers. CIBIL official informed that they are already working on official notification to be released very soon (but did not commit on any date)

        1. I just wonder why they dont do it fast, how tough it is !

  30. rajiv says:

    Hi Manish,
    Need advice… in bad mkt 2008 I had default the repayment of loan for small amt ( less than 2L) because of this my cibil score less then std. Would u pls guide
    1. How to improve cibil score
    2. Or this their any other way to get fresh loan.
    3. after how much time they will improve cibil score – is it done automatically or i need to do some follow up

    Thanks & Regards,

  31. Swetank Saroj says:

    Hi Manish,

    I am waiting for the time when actually a high CIBIL score will go in my or anyone favour.

    If everyone of us is getting a loan at the same rate of interest slightly getting changed based on your negotiation skills and take-home salary; its not much use for us or anyone.


    1. Yes .. However it will take time . Now time can be more here . Atleast bad people are not getting loan , and at this moment , with a good score , one can atleast ask or removal of processing charges etc. In coming years you can expect lower interest rates for good scores.

  32. Jason Braganza says:

    So if I had a high score of 800+, now it will be 600 0dd.

    If I was eligible for favourable interest rates or credit, I will no longer be?

    I have to inch my way up again?

    This is baloney! Why would I even bother if they keep changing the goal posts.

    As far as the ordinary poor guy goes, this is just another rat race!

    1. No Jason . Its not like that ..

      Now the banks will also lower then limits , If they were looking for 800 score earlier , now they know that the same guy will be having 650 or 700 score, but he is the same person, so their will lower their limits . Not much to worry on this .

  33. Hari Prasad says:

    Are these changes in action now? If I apply for the score now, will I be getting the new CIBIL 2.0 score?

    1. Yes . You should be getting the new score now , However if your credit history is more than 6 months old, you will anyways get the same kind of score in range of 300-900 . How will you deferentiate ?

  34. Hari Prasad says:

    Nice Article. If I apply for CIBIL score now, Will I be getting the new CIBIL 2.0 score? I mean have these new changes now live?

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