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Is it good idea to Max out HDFC Credit Card?

  • Thread starter Thread starter rp0703
  • Start date Start date
  • Replies Replies 16
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We all know HDFC doesn't report Credit Limit to CIBIL and I wanted to ask if it's good idea to Max out the card so that HDFC can report the utilisation to CIBIL.
 
As long as you will be in position to pay all that spent amount, not bad idea per se but do only if necessary instead of thinking about reported utilization on credit report.
 
We all know HDFC doesn't report Credit Limit to CIBIL and I wanted to ask if it's good idea to Max out the card so that HDFC can report the utilisation to CIBIL.
If necessary, then sure. If you're doing it if you're worried about the HDFC card affecting your CIBIL score, then no need to do it since CIBIL doesn't consider the utilisation of HDFC cards.

Another user made a good post on this:
Post in thread 'How credit utilisation works for charge cards' https://www.technofino.in/community...ation-works-for-charge-cards.7353/post-126431
 
If necessary, then sure. If you're doing it if you're worried about the HDFC card affecting your CIBIL score, then no need to do it since CIBIL doesn't consider the utilisation of HDFC cards.

Another user made a good post on this:
Post in thread 'How credit utilisation works for charge cards' https://www.technofino.in/community...ation-works-for-charge-cards.7353/post-126431
May be true for people with multiple cards but for my wife who has only one HDFC card its impacting
 
Could you share the screenshot where it showing credit utilisation % (homepage of CIBIL) along with total available limit, if possible.

Btw, whats the score if only HDFC card and how do you find its impacting, I mean how much change you observed?
I dont have the screen shot from that time but below is the trend from onescore where it was 782 in Oct'22 and in Nov'22 i made a big purchase almost 90% of CL and also in Feb'23 it has dropped again but not sure why. You can see its dropped again even though there is credit balance in the card, got the cashback for the purchase in Nov'22. The utilization is -6% in Feb'22. No payment misses.

IMG_DD17AC78ECF2-1.jpeg
 
Thanks, credit age and inquiries in last 3 years?

This is based on my personal observation, no way to guarantee anything..

Ignore onescore credit utilisation, CIBIL won't considered that for non-reported accounts, and OneScore assuming 25k like that if not present - just ignore this part.

You lost 50 points that can be with various other reasons:

- low credit age.
- high risk category (because not enough sufficient payment history).
- high risk (because each month spending increases without previous history, so it takes time to analyze whether that person can afford 1L spend in that month or not).

you lost 20% out of which 5% is random we never know when we will get it. Remaining 15% depends on credit mix, history, accounts >1yr and other factors.

If account is under 1yr then let it complete 1 yr and see its impact on score, its not related to credit utilisation in my opinion.
Yes, i agree with you and not worrying too much on the score. The account was pretty new at that time jst 3 months old .
 
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