Anything above 30% of available limit (For Example if limit is 1 lac and you spend more than 30k in a month), it will negatively impacts your cibil as you will be seen as credit hungry. And here you are trying to utilised 100%of that limit, why?
Now pay overcharge, pay amount such that total amount becomes less than 30% of limit.
Next time don’t go past 30%of limit unless it’s absolutely urgent.
I pay before due date.. also i wanted soln for overcharge
bhopali91355 wrote:Anything above 30% of available limit (For Example if limit is 1 lac and you spend more than 30k in a month), it will negatively impacts your cibil as you will be seen as credit hungry. And here you are trying to utilised 100%of that limit, why?
Now pay overcharge, pay amount such that total amount becomes less than 30% of limit.
Next time don’t go past 30%of limit unless it’s absolutely urgent.
Bro then what is the use of 1lac limit given by the bank??
Suppose I want to purchase some item over 50k on limit of 1lac, then bank will mark me as credit hungry??
I think its purely based on timely repayments
Talk to customer care and explain that its not ur mistake adding txn of 22/Apr in May is not justifiable
They will reverse after 2-3 follow ups
BTW which card? ICICI is bit tough to negotiate
caks2006407 wrote:Talk to customer care and explain that its not ur mistake adding txn of 22/Apr in May is not justifiable
They will reverse after 2-3 follow ups
BTW which card? ICICI is bit tough to negotiate
Hdfc
Sidhi.Baat.No.Bakwas wrote:Hdfc
HDFC does waive easily, hope its first time u crossed limit
caks2006407 wrote:HDFC does waive easily, hope its first time u crossed limit
Yes 1st.. waise cross kaise ho jata hai.. limit hi nahi to transaction kaha se hoga.. it hapoens only bcz they desuct limit after 13 days
kannu01092001115 wrote:Bro then what is the use of 1lac limit given by the bank??
Suppose I want to purchase some item over 50k on limit of 1lac, then bank will mark me as credit hungry??
I think its purely based on timely repayments
Know but Credit Utilsation is a factor in a CREDIT SCORE!
Let me give you an example,
Your CIBIL Score Builds like this!
1.On-Time Payments- 25%
2.Credit Utilisation- 25% (Let’s say, If you have 2 Credit Cards combinely having limit of 3 Lac Limit ) then of them you use 1 card of limit 90% Of your 1st card of 90k (1 Lac is CREDIT LIMIT OF 1 CARD AND 2 LAC IS CREDIT LIMIT OF OTHER CARD) then cibil will not hamper that much because of TOTAL CREDIT LIMIT OF 3 LAC u utilised only 30%
3. Age Of Credit Card/Loan- It also matters,it should be more than 1 year and do not close your oldest credit card as it will hamper your credit score. 25%
4. Mixture of Credit Card/Personal Loan/Vehicle Loan/Etc- It should be a good mixtire of your all accounts 25%
All 4 combinely contributes to build your cibil and last but not least any loan/credit enquiry will fall your cibil by 10-12 points in short run.
shraaj wrote:Know but Credit Utilsation is a factor in a CREDIT SCORE!
Let me give you an example,
Your CIBIL Score Builds like this!
1.On-Time Payments- 25%
2.Credit Utilisation- 25% (Let’s say, If you have 2 Credit Cards combinely having limit of 3 Lac Limit ) then of them you use 1 card of limit 90% Of your 1st card of 90k (1 Lac is CREDIT LIMIT OF 1 CARD AND 2 LAC IS CREDIT LIMIT OF OTHER CARD) then cibil will not hamper that much because of TOTAL CREDIT LIMIT OF 3 LAC u utilised only 30%
3. Age Of Credit Card/Loan- It also matters,it should be more than 1 year and do not close your oldest credit card as it will hamper your credit score. 25%
4. Mixture of Credit Card/Personal Loan/Vehicle Loan/Etc- It should be a good mixtire of your all accounts 25%
All 4 combinely contributes to build your cibil and last but not least any loan/credit enquiry will fall your cibil by 10-12 points in short run.
Cibil improve hota jata hai.. limit not much big factor.. using since 3 year.. only enquiry and new cc par low hota hai.. baki wo covef jota rahta hai.. i have 798 cibil.. now.. i had 840.. but those refuced bcz i got around 12 cc and bnpl and cresitlines.. in 3 4 months..practically bata raha..
Main cc use karta hu kamane ke liye.. tbis add motivated me.. 2 saal tal ek hi hdfc card tha.. jo call aaye usko cut and block karta tha cc related.. fir baati jali.. now i have in cc
1.Indusland aura edge
2.. yesbank prosperity edeg
3 icici mmt
4 icici apay..
5 sbi simply click
6 one card
7. Hdfc millenia
In cresit line
1.lazypay
2postpe
3. Uni card
4. Freo pay
5.amzon pay
6. Flipkart pay
Kuchh naam ho sakta hu bhul gaya.
Edit zest money
shraaj wrote:Know but Credit Utilsation is a factor in a CREDIT SCORE!
Let me give you an example,
Your CIBIL Score Builds like this!
1.On-Time Payments- 25%
2.Credit Utilisation- 25% (Let’s say, If you have 2 Credit Cards combinely having limit of 3 Lac Limit ) then of them you use 1 card of limit 90% Of your 1st card of 90k (1 Lac is CREDIT LIMIT OF 1 CARD AND 2 LAC IS CREDIT LIMIT OF OTHER CARD) then cibil will not hamper that much because of TOTAL CREDIT LIMIT OF 3 LAC u utilised only 30%
3. Age Of Credit Card/Loan- It also matters,it should be more than 1 year and do not close your oldest credit card as it will hamper your credit score. 25%
4. Mixture of Credit Card/Personal Loan/Vehicle Loan/Etc- It should be a good mixtire of your all accounts 25%
All 4 combinely contributes to build your cibil and last but not least any loan/credit enquiry will fall your cibil by 10-12 points in short run.
if credit card has limit of 30k. If used it and then paid to credit card before bill generation and use it again. Will the be any charges ? If do it few times, will the be charges or not?
amanhere2011608 wrote:if credit card has limit of 30k. If used it and then paid to credit card before bill generation and use it again. Will the be any charges ? If do it few times, will the be charges or not?
No Charges,Just Pay Full Charges before due date!
bhopali91355 wrote:Anything above 30% of available limit (For Example if limit is 1 lac and you spend more than 30k in a month), it will negatively impacts your cibil as you will be seen as credit hungry. And here you are trying to utilised 100%of that limit, why?
Now pay overcharge, pay amount such that total amount becomes less than 30% of limit.
Next time don’t go past 30%of limit unless it’s absolutely urgent.
This is just a myth with no hard evidence. My friend regularly used more than 30% of the regular card limit for few months with no effect on cibil other than usual 1-2 points variations every month. Also, utilization ratio is counted against the total of the credit limits on all the cards & not just a single card.
amanhere2011608 wrote:if credit card has limit of 30k. If used it and then paid to credit card before bill generation and use it again. Will the be any charges ? If do it few times, will the be charges or not?
No charges but some cards won’t give you reward points for the usage above card limit in a month(indusind cards) while some will simply not let you spend more than the card limit in a month. Some others might block your card for “commercial usage” if it happens on a good rewarding card like ace.
Even if transaction is not showing
Limit is blocked
You need to check in the app and then proceed
Talk to CC and request for charges to be reversed
guest_999 wrote:This is just a myth with no hard evidence. My friend regularly used more than 30% of the regular card limit for few months with no effect on cibil other than usual 1-2 points variations every month. Also, utilization ratio is counted against the total of the credit limits on all the cards & not just a single card.
That is what i explained in my earlier statement here in this thread by giving a example. @guest_999
bhopali91355 wrote:Anything above 30% of available limit (For Example if limit is 1 lac and you spend more than 30k in a month), it will negatively impacts your cibil as you will be seen as credit hungry. And here you are trying to utilised 100%of that limit, why?
Now pay overcharge, pay amount such that total amount becomes less than 30% of limit.
Next time don’t go past 30%of limit unless it’s absolutely urgent.
have a doubt here. My credit limit is 150k. I have spent more than 80k in current billing cycle
My spends were like this:
Credit utilised: 0, credit available: 150k
Expense: 30k
Credit utilised: 30k, credit available: 120k
Repayment: 30k
Credit utilised: 0, credit available: 150k
Expense: 42k
Credit utilised: 42k, credit available: 108k
Repayment: 20k
Expense: 8k
Credit utilised: 30k, credit available: 120k
Now, is this correct use or a bad one with negative impact on cibil score ?
Johnny_Depp wrote:have a doubt here. My credit limit is 150k. I have spent more than 80k in current billing cycle
My spends were like this:
Credit utilised: 0, credit available: 150k
Expense: 30k
Credit utilised: 30k, credit available: 120k
Repayment: 30k
Credit utilised: 0, credit available: 150k
Expense: 42k
Credit utilised: 42k, credit available: 108k
Repayment: 20k
Expense: 8k
Credit utilised: 30k, credit available: 120k
Now, is this correct use or a bad one with negative impact on cibil score ?
I assume that your available credit limit was 150k in the last statement and you’ve incurred 80k expenses with 50k repayments till now. When is the next statement due date?
Johnny_Depp wrote:have a doubt here. My credit limit is 150k. I have spent more than 80k in current billing cycle
My spends were like this:
Credit utilised: 0, credit available: 150k
Expense: 30k
Credit utilised: 30k, credit available: 120k
Repayment: 30k
Credit utilised: 0, credit available: 150k
Expense: 42k
Credit utilised: 42k, credit available: 108k
Repayment: 20k
Expense: 8k
Credit utilised: 30k, credit available: 120k
Now, is this correct use or a bad one with negative impact on cibil score ?
Find out your credit report date from cibil report
It can be montg end, statement generation date or sometimes due date
Next ensure that your total dues around that date is less than 25-30%
Secondly Make sure you dont spend more than 10L in a yr on cc, here all spends count not only reported
Johnny_Depp wrote:may 25
In that case, it’s the best way to utilize your credit limit by making repayments before the next statement date.
insta wrote:Find out your credit report date from cibil report
It can be montg end, statement generation date or sometimes due date
Next ensure that your total dues around that date is less than 25-30%
Secondly Make sure you dont spend more than 10L in a yr on cc, here all spends count not only reported
it is month end for credit report. Last update is on mar 30. I think I did 1st repayment on apr 30. Not sure if it reflected. But still utilisation didn’t cross more than 30% at that time. So I think it’s fine
charges will be waive off call cc and explain
caks2006407 wrote:Talk to customer care and explain that its not ur mistake adding txn of 22/Apr in May is not justifiable
They will reverse after 2-3 follow ups
BTW which card? ICICI is bit tough to negotiate
Mine overcharge fee 500+ Gst Kotak CC
Sidhi.Baat.No.Bakwas wrote:Cibil improve hota jata hai.. limit not much big factor.. using since 3 year.. only enquiry and new cc par low hota hai.. baki wo covef jota rahta hai.. i have 798 cibil.. now.. i had 840.. but those refuced bcz i got around 12 cc and bnpl and cresitlines.. in 3 4 months..practically bata raha..
Main cc use karta hu kamane ke liye.. tbis add motivated me.. 2 saal tal ek hi hdfc card tha.. jo call aaye usko cut and block karta tha cc related.. fir baati jali.. now i have in cc
1.Indusland aura edge
2.. yesbank prosperity edeg
3 icici mmt
4 icici apay..
5 sbi simply click
6 one card
7. Hdfc millenia
In cresit line
1.lazypay
2postpe
3. Uni card
4. Freo pay
5.amzon pay
6. Flipkart pay
Kuchh naam ho sakta hu bhul gaya.
Edit zest money
Kreditbee
Uni
Slice
Akudo
Simple
Lazypay
NiyoX
Jupiter
FI
Postpe
Dhani
Bob
Zest
Bajaj
kannu01092001115 wrote:Bro then what is the use of 1lac limit given by the bank??
Suppose I want to purchase some item over 50k on limit of 1lac, then bank will mark me as credit hungry??
I think its purely based on timely repayments
I usually spend more than 95%of my credit limit but sttil i have a good credit score. It has impact on credit score but not that much…
caks2006407 wrote:Talk to customer care and explain that its not ur mistake adding txn of 22/Apr in May is not justifiable
They will reverse after 2-3 follow ups
BTW which card? ICICI is bit tough to negotiate
Was charged on 28th Apr an Overlimit Fees of 500+90 GST Kotak CC
Tweeted same day – nothing happened.
Filled Grievance form Level 1 Next day - nothing happened.
Saw this post of yours yesterday called immediately – they (Kotak) reversed immediately 500 ‘No question asked Policy’
this month i also used my hdfc cc full limit around 95% 😜
now let me see what happens with my cibil
mk996071682 wrote:Was charged on 28th Apr an Overlimit Fees of 500+90 GST Kotak CC
Tweeted same day – nothing happened.
Filled Grievance form Level 1 Next day - nothing happened.
Saw this post of yours yesterday called immediately – they (Kotak) reversed immediately 500 ‘No question asked Policy’
nice to hear that, now ur exp with Kotak will in turn help many
