CIBIL Score is one of the most significant codes that ensures a person’s full credit report in terms of his financial gains and loss. The score carries huge importance in the financial sector. It plays a key role in maintaining the track record of an individual’s financial activities. The data regarding an individual is collected by the bureau through banks or firms, and the credit score is set accordingly. However many people neglect the due importance of this score and experience a decrease in their CIBIL score.
The bureau works on a number of parameters before giving the final score to the customer. The score is a short 4- digit score ranging from 300-900. A CIBIL score above 750 is considered to be a good one and helps the customer in getting due benefits from banks. If you hold a CIBIL greater than 750 you are 100% eligible for availing any financial help from the bank. 
There can be a lot many reasons that might hold a negative impact on your CIBIL Score drastically. Let’s discover the reasons that can disturb your CIBIL score.

Delaying the Credit Card Payments

Delaying your credit card bills payments at times can lower down your CIBIL to an extent.

Inquiring More About the Loans 

Inquiring more about your credit details at times can affect your score negatively. You always need to make sure that you are not repeatedly inquiring about your credit history or any other information. There can be times when you are in an urgent need for funds; you generally opt to inquire from many of the leading banks and firms about their loan policies and disbursal process. According to you, this can be an intelligent step to grab the best loan deal, but this can impart an adverse effect on your credit report. As the lender might see you as a credit hungry person and deny dealing with you. It would drastically lower your credit score. So having knowledge about certain facts and figures can be of great benefit at times but excessive of everything is not that good, same is the case with the enquiring part. If you inquire more, your Credit Score could eventually go down.  

Lack of Cash in your Account

There can be times when you might go through dents in your credit reports with a lack of balance in the account. Account through which you are paying your monthly installments should always have the cash to ensure time to time payments of the loan installments. Missing or delaying the payments would lower your credit score.

Having Multiple Credit Cards

Having more number of credit cards may boost your status in society and may be a good source of availing funds. But, in actual practice, they don’t give a hike to your credit score. You might drain out of stress in holding track of your credit cards and miss the payment of your bills. This would eventually lower your credit score. The concept of multiple credit cards works till the time you’re using them judiciously. Otherwise, they become an issue of serious concern and unwanted stress.

Availing Number of Unsecured Loans:

Lastly, it’s the number of Unsecured Loans that are being traced out in your CIBIL report which can be a big reason to worry about. There could be many Personal Loans attached to your name, namely loans for education, business, medical emergencies, etc. This list could damage your CIBIL report to an extent. These mistakes of yours would let down your credit score. A sound check on them would provide you better score and financial benefits as well.
 
All of the above key points are of great importance when we talk about influential factors concerning the CIBIL score.