Credit utilization

[Ameen]

"Is it permissible to fully utilize my credit card's credit limit, make three such full utilization payments within a single billing cycle, and settle the outstanding balance prior to the billing statement generation, ensuring that the generated statement remains below 30% of the total credit limit?"

 

[starstruck]

"Is it permissible to fully utilize my credit card's credit limit, make three such full utilization payments within a single billing cycle, and settle the outstanding balance prior to the billing statement generation, ensuring that the generated statement remains below 30% of the total credit limit?"

Possible but likely to trigger a limit or trigger a block also.

 

[srikant]

"Is it permissible to fully utilize my credit card's credit limit, make three such full utilization payments within a single billing cycle, and settle the outstanding balance prior to the billing statement generation, ensuring that the generated statement remains below 30% of the total credit limit?"

Why exactly though?

Is your credit limit INCREDIBLY low relative to your income level?

Is it THAT much more rewarding to put the spends on that particular credit card compared to any other mode of payment you have?

And note that some banks (most in India, actually -- except SBI, ICICI, PNB and some foreign banks) report on calendar month-end, not on statement generation date.

 

[Shubham Yadav]

"Is it permissible to fully utilize my credit card's credit limit, make three such full utilization payments within a single billing cycle, and settle the outstanding balance prior to the billing statement generation, ensuring that the generated statement remains below 30% of the total credit limit?"

Why do you want to do such thing ?

 

[NAB]

For once or twice in a year, that's fine. But if you do it more often, then they may take action.

 

[Ameen]

Why exactly though?

Is your credit limit INCREDIBLY low relative to your income level?

Is it THAT much more rewarding to put the spends on that particular credit card compared to any other mode of payment you have?

And note that some banks (most in India, actually -- except SBI, ICICI, PNB and some foreign banks) report on calendar month-end, not on statement generation date.

Currently, I possess two credit cards, namely the HDFC Business Money Back and the Amazon Pay ICICI card with a credit limit of 50,000. In light of my upcoming international trip, I am inclined to utilize my Amazon Pay ICICI card for booking flights and accommodations through Amazon. This choice is driven by the prospect of availing a 5% cashback offer, which makes it a favorable option for managing my travel expenses. Therefore, I am considering booking all relevant transactions using my ICICI Amazon Pay card for this purpose.