CC bill of 3Lakh - poor credit card utilization?

101°
Deal Newbie
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Hi,

My friend was in need of doing some payments so he took my cc. He will pay me back in a day or two.

My current outstanding balance on this card is 3,10,000. Limit is 4,86,000
I also have Amazon Pay cc with limit of 60k, with 0 outstanding balance as of now.

So my total credit card utilization is around 66%. I read somewhere that it has to be around 30%. And I may use the card again :/

So should I pay the entire amount before bill generation or just some part of it? (then how much?)

My credit score sometimes taking a hit even without doing any late payments and I have no clue why.

Just want to make sure this doesn’t affect my score or may possibly help in improving my score if I make multiple payments before bill generation?

Plz suggest confused

15 Comments  |  
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99
878
3

Just make sure that before bill generation your cc utilization is less than 30%.

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1404
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Credit utilization should be low ideally. Different credit cards evaluation companies report to cibil at different time. For few it is end of the month or some around 20th. First find out when it is reported and use accordingly. No matter you use 100% or not or paying bill

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Just paying bill on time is more important than utilisation. Some months utilising more doesn’t deter scores it might drop in those specific months but it will eventually go higher up as you pay the bill.

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if your card is from hdfc, standard chartered then you can pay all the dues before 30th of the month and your utilization will be 0 in cibil.

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little unsure , but friends and pay later doesn’t go well altogether … fingers crossed .

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Don’t worry! very impact of credit utilization on credit report.

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Don’t worry, pay bill as per due date. It will not hit your score if for one month your utilisation is higher. If it is continuously higher then it is a problem.

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one in a while high credit utilization wont affect ur score but if u do it consistently for few months it does take toll on ur credit score( personal experience), best way is to get higher limit as much as possible

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Thanks for your suggestions guys!

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Yeah card is from hdfc. yes will do that!

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he already transferred the amount to my account bro.. i just have to clear the bill now grinning

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mo-ahmy wrote:

he already transferred the amount to my account bro.. i just have to clear the bill now grinning

party do

15
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Kabhi kabhi utilization up ho Jane se koi problem nahi hai thoda bahut cibil down hoga lekin agle month spend ratio % down hone se cibil fir wapas theek ho jayega

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mo-ahmy wrote:

he already transferred the amount to my account bro.. i just have to clear the bill now grinning

Which cc you use , I think you are your friend?

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Unless you are planning to get a loan or a new card soon, don’t think about your credit score.
However, it would be good if you could get a limit increase.

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