Cibil score from start
I just want to know if i start credit card journey from now ,how much spend min i have to do per month to get a cibil score and after how many months cibil score is generated.
My aim is 700+ so tell me min amount and how much min time it takes for this.
i got the credit card of limit 75k on basis of relationship with bank
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Created by : Amit.Saha
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If used only 500-1000 rs per month sometimes
i got a credit card on basis on my relationship thats not a ques i got 75k limit
If you want cibil score instantly injust one moth above 770 then pm me
Apply for pay later service
bro i got credit card
First of all 700+ is not a good score. 750+ is expected. 780+ is good and 800+ is excellent (approx range).
You have a CC now, congrats for that. Now all you have to do is just that make sure that the generated bill is no more than 30% of it (so around 25K max) anytime, prefer to keep it around 10% only if possible for the initial few months (you can prepay before bill generation to achieve this). Pay off the complete bill on time always. Avoid applying for another card in the next 5-6 months (avoid in general, but if there’s a blue moon offer like Amex LTF cc, then only go for it, as an example).
Within the next 6 month, you will certainly have a score of around 770ish using this simple approach. First score generation takes around 3 months from the time when you got your first credit.
See i have to spend 50k to make it ltf and hdfc do not reports limit to cibil so shd i pay 50k complete in one month then pay on time and rest not cross 10%?
Will take at least 5-7 months to generate a score
Get a secured card by doing 15k fd and spend only 2k , pay bills after statement date and before due date .
Watch your score rocket
Always use 10-15% of your credit limit and dont go beyond 30% during this time