Criteria for credit limit

[hitirfan]

On what basis is credit limit given?

How to get limit increased in HDFC IOCL CC?

 

[Tejo]

On what basis is credit limit given?

How to get limit increased in HDFC IOCL CC?

Use it up above 1.5x of given limit

And don't use for next 6. Months

And repeat this until you get le

 

[sujayghosh]

How to get limit increased

The most sustainable way is to use the card regularly and sometimes keep usage higher upto 50%. Banks see regular usage of cards and want to see occasional large usage to consider raising your limit. I have seen this in both my and my wife's case... I was having my first card from ICICI and wife having her first from Axis.

 

[hitirfan]

Use it up above 1.5x of given limit

And don't use for next 6. Months

And repeat this until you get le

More than the credit limit???? Isn't that bad?

 

[hitirfan]

The most sustainable way is to use the card regularly and sometimes keep usage higher upto 50%. Banks see regular usage of cards and want to see occasional large usage to consider raising your limit. I have seen this in both my and my wife's case... I was having my first card from ICICI and wife having her first from Axis.

My Credit limit is 80K. My normal expenses go max upto 10-15K

 

[sujayghosh]

My Credit limit is 80K. My normal expenses go max upto 10-15K

That is perfectly alright initially. In fact I was suggested not to use more than 20% regularly. So, you are within limit. As and when your credit limit increases in each card that you have, you will see that your usage will go below 5% which is actually good in the long term (across all cards). Now just continue spending like you do. Of course in some months, when there is a lucrative sale and or you need a big appliance, you will have to spend big.