HDFC credit utilisation query

HDFC credit utilisation query

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Deal Subedar
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Credit limit is not reflected for some HDFC credit cards in CIBIL. How do they calculate credit utilisation?
On Wishfin it’s showing 100% credit utilisation for my Money back credit card even though I spent less than 30% of my credit.

19 Comments  |  
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Deal Cadet
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Nothing need to worry about credit utilisation if not reported in CIBIL. You can use 100% and it will not hurt your score.

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midfold wrote:

Nothing need to worry about credit utilisation if not reported in CIBIL. You can use 100% and it will not hurt your score.

misleading advice
all credit card uses are reported
always keep total credit card uses ( all your credit card )
under 29% for best credit score

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Deal Subedar
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Since my HDFC credit card is not showing the credit limit in credit reports then on what basis CIBIL calculates credit utilisation? I also read earlier that certain HDFC credit cards don’t show any credit limit in CIBIL.

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meragoyou153 wrote:

misleading advice
all credit card uses are reported
always keep total credit card uses ( all your credit card )
under 29% for best credit score

If you continue to use 29% only, what makes the CC bank to increase your credit limit?

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Deal Cadet
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meragoyou153 wrote:

misleading advice
all credit card uses are reported
always keep total credit card uses ( all your credit card )
under 29% for best credit score

Its not misleading bro….

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ramadesidime wrote:

If you continue to use 29% only, what makes the CC bank to increase your credit limit?

and your credit score will decrease and you will not remain credit worthy in the eyes of bank which create many trouble in your credit product from bank

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cadence wrote:

Since my HDFC credit card is not showing the credit limit in credit reports then on what basis CIBIL calculates credit utilisation? I also read earlier that certain HDFC credit cards don’t show any credit limit in CIBIL.

Hdfc and Amex don’t report credit limit of their card holders to cibil.

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meragoyou153 wrote:

and your credit score will decrease and you will not remain credit worthy in the eyes of bank which create many trouble in your credit product from bank

@meragoyou153
How about re-reading your reply and correct the reply to suite my equerry?

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Deal Subedar
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HDFC , Amex , Indusind , Yesbank do not report the credit limit to the Credit Bureau

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Deal Cadet
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I recently escalated this with HDFC and discussed with their higher officials also. They confirmed that due to their internal policies, wont report credit limit to CIBIL. Instead of credit limit, they report highest usage till date of reporting from the card inception. Its matching with my card. Cibil showing only highest credit instead of credit limit

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Deal Subedar
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andhraabbayi wrote:

I recently escalated this with HDFC and discussed with their higher officials also. They confirmed that due to their internal policies, wont report credit limit to CIBIL. Instead of credit limit, they report highest usage till date of reporting from the card inception. Its matching with my card. Cibil showing only highest credit instead of credit limit

Thanks.

So if your highest spend is 50k then it’ll show 100% credit utilisation. Next month if you spend 5k then it should show 10%(of50k) credit utilisation?

Also in your CIBIL what percentage is shown for credit utilisation?

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cadence wrote:

Thanks.

So if your highest spend is 50k then it’ll show 100% credit utilisation. Next month if you spend 5k then it should show 10%(of50k) credit utilisation?

Also in your CIBIL what percentage is shown for credit utilisation?

If your highest spend from card inception is 50,000, then consider 50,000 as a credit limit. Cibil calculating utilization percentage based on highest spend reporting only.

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meragoyou153 wrote:

misleading advice
all credit card uses are reported
always keep total credit card uses ( all your credit card )
under 29% for best credit score

I got 39k credit limit in my SBI CC. I want to buy MiTV worth 19.5k. what shall I do so that it doesn’t affect my score? I still don’t have a credit score. Got the card 2 days ago. Will paying the excess amount before bill generation solve the problem? Kindly suggest anyone.

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pikkuboss wrote:

I got 39k credit limit in my SBI CC. I want to buy MiTV worth 19.5k. what shall I do so that it doesn’t affect my score? I still don’t have a credit score. Got the card 2 days ago. Will paying the excess amount before bill generation solve the problem? Kindly suggest anyone.

Go ahead, there won’t be any impact if you do it one or twice. Utilising high credit limit consistently will degrade your score.

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Deal Subedar
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pikkuboss wrote:

I got 39k credit limit in my SBI CC. I want to buy MiTV worth 19.5k. what shall I do so that it doesn’t affect my score? I still don’t have a credit score. Got the card 2 days ago. Will paying the excess amount before bill generation solve the problem? Kindly suggest anyone.

Please see the Impact of CC utilization on Score (CIBIL)https://cdn0.desidime.com/attachments/photos/608734/original/Screenshot_20200321-121209.png?1584772961 If you have only card .. use it and pay the dues within due dates..after 6months ask for CC LE

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ravinsee wrote:

Please see the Impact of CC utilization on Score (CIBIL)https://cdn0.desidime.com/attachments/photos/608734/original/Screenshot_20200321-121209.png?1584772961 If you have only card .. use it and pay the dues within due dates..after 6months ask for CC LE

I mean If I pay in advance before bill generation. Like paying back the excess amount by today after utilisation? Will they report the spending as 19.5k or the amount on bill generated?

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Konquerror wrote:

Go ahead, there won’t be any impact if you do it one or twice. Utilising high credit limit consistently will degrade your score.

Thanks. Will pay the excess amount before bill generation to avoid higher bill.

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Deal Subedar
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Want to utilize a spend based offer in my credit card.
1. If the offer is for 20k and I spend 20k & pay the bill before it’s due – will I be eligible for offer?
2. If I clear the due before bill is generated will it still effect CIBIL as high utilisation?

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Blogger
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cadence wrote:

Want to utilize a spend based offer in my credit card.
1. If the offer is for 20k and I spend 20k & pay the bill before it’s due – will I be eligible for offer?
2. If I clear the due before bill is generated will it still effect CIBIL as high utilisation?

1. yes
2. no

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