Cibill score impact due to limit
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My friend has limit of 3L for Amazon Icici card
But in July month he made 8L worth transaction
Because this credit score is down
First he exhausted entire limit around 2.5L
He paid the bill immediately before bill generation
Again 2L he used and later immediately before Bill generation
Will cibil is down Because of above transaction.
cibil is down because of this reason?
He done rotation for marriage purchase
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If the amount was still due on 31st of the month then yes. They report the use % on 31st of the month, not the billing date
Just maintain 30% for bill amount the nothing to worry, keep paying bills with 30% every month and your score will be superb
Cibil etc also checks what is your montly credit limit and how much you used it in total.
Okay. So, I am sharing my personal experience.
I previously had a very low Credit Limit 2-3 years back but I had to make multiple purchases. So, I used almost that entire limit then repaid and followed that same process. And, before bill generation I always kept the due between 10-20%. This way my credit score was never hampered and gradually I developed a strong credit score.
Yes. Generally the rule is to keep transaction under 30% to main the good cibil score.