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Extra Payment of CC bill

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SPEEDSTERV4

SPEEDSTERV4

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Suppose my CC limit is 60k and I spend in a certain period an amount of 10k and Before the billing date I cleared all the spended amount with an extra amount of 3k. That means now my limit will increase 63k having an extra amount of 3k.
How my CIBIL will effect in this condition?
 
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Solution
Subhankar
SPEEDSTERV4 said:
Suppose my CC limit is 60k and I spend in a certain period an amount of 10k and Before the billing date I cleared all the spended amount with an extra amount of 3k. That means now my limit will increase 63k having an extra amount of 3k.
How my CIBIL will effect in this condition?
Click to expand...
Anything above the limit will be displayed as "-" (negative) balance and same would be reported to CIBIL. Nothing will harm but no gain will be there as well
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SPEEDSTERV4 said:
Suppose my CC limit is 60k and I spend in a certain period an amount of 10k and Before the billing date I cleared all the spended amount with an extra amount of 3k. That means now my limit will increase 63k having an extra amount of 3k.
How my CIBIL will effect in this condition?
Click to expand...
No your limit in cibil remains same and your utilization shows as 16.66% even if you pay more than your outstanding balance.
 
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Upvote 0 Downvote
SPEEDSTERV4 said:
Suppose my CC limit is 60k and I spend in a certain period an amount of 10k and Before the billing date I cleared all the spended amount with an extra amount of 3k. That means now my limit will increase 63k having an extra amount of 3k.
How my CIBIL will effect in this condition?
Click to expand...
Anything above the limit will be displayed as "-" (negative) balance and same would be reported to CIBIL. Nothing will harm but no gain will be there as well
 
Upvote 0 Downvote
Solution
SPEEDSTERV4 said:
Suppose my CC limit is 60k and I spend in a certain period an amount of 10k and Before the billing date I cleared all the spended amount with an extra amount of 3k. That means now my limit will increase 63k having an extra amount of 3k.
How my CIBIL will effect in this condition?
Click to expand...
Since you already paid 3K additional in advance on top of your due amount, your balance would show as -3000 (Negative Balance). It essentially means next time when you spend 3K through your card, you don't need to pay anything as it would get nullified.
 
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anirbanm said:
Never pay before bill generation
It's technically illegal and you may face problems
Click to expand...
Actually I almost forgetting billing date,instead I always pay bill before the day the bank send to cibil
Example my hdfc bank billing date is 18th ,but they report to cibil on month end ,
I will pay the amount on 29/30 of the month
 
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It is not illegal to pay before bill, as of today I made more than 30 payments before bill date and I didn't g et any warning or any call from bank.
If there is any circular from RBI related to this then and only then it is illegal otherwise no other institution in India can make it illegal.
Just because some Youtuber has follower and he says it is illegal then it doesn't become illegal.
 
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Rajkumar said:
In case of sbi,icici,Citi, I will pay before bill generated as they report to cibil on bill generation day.

To show low utilisation I will do this

Will it cause any issue
Click to expand...
Yes as per my knowledge I only know that it is not illegal
ujjawal said:
It is not illegal to pay before bill, as of today I made more than 30 payments before bill date and I didn't g et any warning or any call from bank.
If there is any circular from RBI related to this then and only then it is illegal otherwise no other institution in India can make it illegal.
Just because some Youtuber has follower and he says it is illegal then it doesn't become illegal.
Click to expand...
Yes as per my knowledge I know it's not illegal.
 
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I have contacted 2 banks regarding this , both bank said i could pay by any how , it could be in once or part by part no issues or i can pay before bill generation dates still no issues. The issue will start when if i haven't paid the bill generated before due date .

There are some banks who has 2-3 days additional grace period even after due date so that if you pay your bill on due dates it gets settled Before ending that grace period.

Its better to clear all dues atleast 3 days before due dates 😅
 
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anirbanm said:
Never pay before bill generation
It's technically illegal and you may face problems
Click to expand...
what bank may notice is when surpassing the monthly limit to large extent and in short matter of time. Eg if someone tries to buy 10L car with a CC limit of 3L after negotiating with the dealer to split the amount and pay multiple times.
 
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dav33 said:
what bank may notice is when surpassing the monthly limit to large extent and in short matter of time. Eg if someone tries to buy 10L car with a CC limit of 3L after negotiating with the dealer to split the amount and pay multiple times.
Click to expand...
Yes any suspicious or unusual transaction may get flagged irrespective of if it was paid prior to or post the bill generation.

Proactive approach is always welcome but the reactive may not.
 
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