How can I increase CIBIL score by 3 points in 1 month?

[vishp]

I am new to CCs and hence my Cibil is 747. It went from 726->748->747. I will be taking a loan by end of next month. And as you know, loan interest rates change at 750. So need to reach there fast.

Any tips?? I keep my utilisation at 0.5-1% on the 3 cards I have.

 

[deep@vie]

Okay. If it is followed per card, then it will never reach 30% of overall

E.g. you've 3 cards & utilisation on 2 is less than 30 but on one is more than 60, it could be in few cases.
Try to keep under 30 for as many cards you can & in negative for few if possible, negative Rs 1 will do.

 

[CyberPsych]

E.g. you've 3 cards & utilisation on 2 is less than 30 but on one is more than 60, it could be in few cases.
Try to keep under 30 for as many cards you can & in negative for few if possible, negative Rs 1 will do.

Okay I have few LTF cards at 0 outstanding, I will make them negative..

 

[SSV]

I am new to CCs and hence my Cibil is 747. It went from 726->748->747. I will be taking a loan by end of next month. And as you know, loan interest rates change at 750. So need to reach there fast.

Any tips?? I keep my utilisation at 0.5-1% on the 3 cards I have.

On all your 3 cards individually you need to do this …

1) Pay in full/ excess before bill generation
and also make sure
2) your outstanding balance should be 0 / -ve ( that is excess paid) as on month end I.e. 30 / 31 of that month…

The second step is important as some banks report outstanding balances as on 30/ 31 of the month…

If you do the above for each of your account then your score will get massive boost..

Look at my score below without any secured loans ..
All active accounts are Credit cards accounts only …

 

[CyberPsych]

Pay in full/ excess before bill generation
and also make sure

Spending and paying within billing cycle, always keeps the bill outstanding closer to zero. Does this mean we can keep credit utilisation always within 0-1% ??

 

[SSV]

Spending and paying within billing cycle, always keeps the bill outstanding closer to zero. Does this mean we can keep credit utilisation always within 0-1% ??

Yes, look at above for my score. I do exactly the same

 

[CyberPsych]

Yes, look at above my score. I do exactly the same

Thanks for this, I am looking to reach 800, currently at 785..

 

[CyberPsych]

E.g. you've 3 cards & utilisation on 2 is less than 30 but on one is more than 60, it could be in few cases.
Try to keep under 30 for as many cards you can & in negative for few if possible, negative Rs 1 will do.

I don't know if this is right, Google Pay (CIBIL) shows total cards credit limit for utilisation %

 

[vishp]

On all your 3 cards individually you need to do this …

1) Pay in full/ excess before bill generation
and also make sure
2) your outstanding balance should be 0 / -ve ( that is excess paid) as on month end I.e. 30 / 31 of that month…

The second step is important as some banks report outstanding balances as on 30/ 31 of the month…

If you do the above for each of your account then your score will get massive boost..

Look at my score below without any secured loans ..
All active accounts are Credit cards accounts only …
View attachment 46105

Wow!! What a score!! Thank you so much! You are right! My HDFC DCB is reported at month end. ICICI is yet to report from past 2 months. Will make all negative balance.

 

[SSV]

I don't know if this is right, Google Pay (CIBIL) shows total cards credit limit for utilisation %

Total is different to individual..
Even if one account has ₹1 outstanding my above suggestion doesn’t work

 

[SSV]

Wow!! What a score!! Thank you so much! You are right! My HDFC DCB is reported at month end. ICICI is yet to report from past 2 months. Will make all negative balance.

Good, please report back after your plan implementation..
You will be pleasantly surprised looking at your score then …
Best wishes

 

[vishp]

Good, please report back after your plan implementation..
You will be pleasantly surprised looking at your score then …
Best wishes

Definitely! Thank you!

 

[Jackk]

On all your 3 cards individually you need to do this …

1) Pay in full/ excess before bill generation
and also make sure
2) your outstanding balance should be 0 / -ve ( that is excess paid) as on month end I.e. 30 / 31 of that month…

The second step is important as some banks report outstanding balances as on 30/ 31 of the month…

If you do the above for each of your account then your score will get massive boost..

Look at my score below without any secured loans ..
All active accounts are Credit cards accounts only …
View attachment 46105

Hey Bro! A quick query, in case I make a transaction of 90% of credit limit today and pay that amount today itself post transaction, will it result in my CIBIL deterioration/hit taking into consideration today is end of month?

 

[SSV]

Hey Bro! A quick query, in case I make a transaction of 90% of credit limit today and pay that amount today itself post transaction, will it result in my CIBIL deterioration/hit taking into consideration today is end of month?

Nothing happens.. Infact it is a good practice ..

 

[lightwaves]

On all your 3 cards individually you need to do this …

1) Pay in full/ excess before bill generation
and also make sure
2) your outstanding balance should be 0 / -ve ( that is excess paid) as on month end I.e. 30 / 31 of that month…

The second step is important as some banks report outstanding balances as on 30/ 31 of the month…

If you do the above for each of your account then your score will get massive boost..

Look at my score below without any secured loans ..
All active accounts are Credit cards accounts only …
View attachment 46105

Awesome bro! Thanks for the tip.

 

[Jackk]

Nothing happens.. Infact it is a good practice ..

Let me reframe it to double check. For ex : If the credit limit is 50k and the transaction i need to make today(31st March when the bank can report to cibil) is of 45k. Post the transaction i immediately pay it back. So in this case it won't affect cibil? However 45k will start showing in the "HIGH CREDIT" tab in the cibil report, wouldn't it have a negative effect on utilisation? Having read a lot of threads , in a lot of confusion now,please clarify.

 

[SSV]

Let me reframe it to double check. For ex : If the credit limit is 50k and the transaction i need to make today(31st March when the bank can report to cibil) is of 45k. Post the transaction i immediately pay it back. So in this case it won't affect cibil? However 45k will start showing in the "HIGH CREDIT" tab in the cibil report, wouldn't it have a negative effect on utilisation? Having read a lot of threads , in a lot of confusion now,please clarify.

the more in HIGH CREDIT , the better.
the less the outstanding balance , is also much better.

your outstanding balance should be either be 0 or negative for the best case scenario

 

[VasukiVasuki is verified member.]

Hey Bro! A quick query, in case I make a transaction of 90% of credit limit today and pay that amount today itself post transaction, will it result in my CIBIL deterioration/hit taking into consideration today is end of month?

Me who did this every month on SBI Paytm card & my cibil turned out find .
Most of the month it was 90% . deliberately.
Why everyone is so concerned about few points drop.
I see a up & down everytime something new gets added .
Be it cur , new card or else .

If u wanna make your cur 0 .
Make sure zero balance in cc due on reporting day & on 28-31 days of every month..
There is a whole thread on it

 

[Jackk]

Me who did this every month on SBI Paytm card & my cibil turned out find .
Most of the month it was 90% . deliberately.
Why everyone is so concerned about few points drop.
I see a up & down everytime something new gets added .
Be it cur , new card or else .

If u wanna make your cur 0 .
Make sure zero balance in cc due on reporting day & on 28-31 days of every month..
There is a whole thread on it

Again confused now bro! Reframing my confusion again: like today is when Axis reports to cibil(end of month), taking the above example of 50K Credit limit and the transaction to be made today is 45k(90%) and the billing cycle is 15th of the month. Now if i make that 45k transaction and pay it back today itself, wouldn't that 45k transaction have trace on cibil report since the transactions goes into "in process" state and gets settled usually after some time. Given this case, now when the axis sends today's report, that won't be getting reflected as an outstanding amount? I shall really appreciate if this can be clarified.

 

[SSV]

. Now if i make that 45k transaction and pay it back today itself, wouldn't that 45k transaction have trace on cibil report since the transactions goes into "in process" state

NO.
AXIS reports only settled transactions

Given this case, now when the axis sends today's report, that won't be getting reflected as an outstanding amount?

Yes, it wont get reflected as outstanding amount because it is not settled yet

 

[Jackk]

NO.
AXIS reports only settled transactions


Yes, it wont get reflected as outstanding amount because it is not settled yet

Thanks for clarifying. Appreciate it.