Impact of high utilization on 1 of many cards on Cibil score

[ankit_tf]

Hello Experts,

I need to make payments of around 5L in 2 consecutive months each. It will be about 50% of my credit limit on one of the cards. The credit limit (10L) is shared across 2 cards. I want to know if this will impact the CIBIL score somehow? Is the high utilization considered for impact with that specific card or across the total credit limit of multiple cards? (in later case the utilization will only come up to be 10%)

The reason I am asking is, I already have an unresolved issue with CIBIL (https://www.technofino.in/community/threads/transunion-is-fraud.17575/), though I have given up on already. In this case the reason they tried to whitewash me with was that my "current balance" was increased for 2 months, probably bcz of more than usual utilization (still < 5%) for 2 consecutive months even though the bills were still paid in full.

I will only be paying the 2nd part of the transaction after setteling the dues, but still want to know if there's any possibility of impact

TIA

 

[Vasuki]

Hello Experts,

I need to make payments of around 5L in 2 consecutive months each. It will be about 50% of my credit limit on one of the cards. The credit limit (10L) is shared across 2 cards. I want to know if this will impact the CIBIL score somehow? Is the high utilization considered for impact with that specific card or across the total credit limit of multiple cards? (in later case the utilization will only come up to be 10%)

The reason I am asking is, I already have an unresolved issue with CIBIL (https://www.technofino.in/community/threads/transunion-is-fraud.17575/), though I have given up on already. In this case the reason they tried to whitewash me with was that my "current balance" was increased for 2 months, probably bcz of more than usual utilization (still < 5%) for 2 consecutive months even though the bills were still paid in full.

I will only be paying the 2nd part of the transaction after setteling the dues, but still want to know if there's any possibility of impact

TIA

How much is your score

 

[ankit_tf]

How much is your score

Currently it's 776

 

[sidp]

Hello Experts,

I need to make payments of around 5L in 2 consecutive months each. It will be about 50% of my credit limit on one of the cards. The credit limit (10L) is shared across 2 cards. I want to know if this will impact the CIBIL score somehow? Is the high utilization considered for impact with that specific card or across the total credit limit of multiple cards? (in later case the utilization will only come up to be 10%)

The reason I am asking is, I already have an unresolved issue with CIBIL (https://www.technofino.in/community/threads/transunion-is-fraud.17575/), though I have given up on already. In this case the reason they tried to whitewash me with was that my "current balance" was increased for 2 months, probably bcz of more than usual utilization (still < 5%) for 2 consecutive months even though the bills were still paid in full.

I will only be paying the 2nd part of the transaction after setteling the dues, but still want to know if there's any possibility of impact

TIA

Pay before bill generation. So won't be counted for CuR.

 

[Vasuki]

Currently it's 776

Max 10-15 point will be gone even if it's reported 50% of cur .

Cheers mate .
Just don't apply card it will bounce back the day utilisation is reported less .

Cards are for convience. Use it

Don't stress about score much .

My score goes 10 point up and down every month..
Unless u have OCD with cibil score it should not bother you

 

[ankit_tf]

Max 10-15 point will be gone even if it's reported 50% of cur .

Cheers mate .
Just don't apply card it will bounce back the day utilisation is reported less .

Cards are for convience. Use it

Don't stress about score much .

My score goes 10 point up and down every month..
Unless u have OCD with cibil score it should not bother you

I think I do have an OCD 🤣 the score was 792 before it suddenly dropped to 763, ~2 yrs back for no visible reasons. And since then I am fretting over it despite other credit scores being in 850+ range all this time. I think I need to stop checking cibil every 1-2 months 😂

 

[sidp]

I think I do have an OCD 🤣 the score was 792 before it suddenly dropped to 763, ~2 yrs back for no visible reasons. And since then I am fretting over it despite other credit scores being in 850+ range all this time. I think I need to stop checking cibil every 1-2 months 😂

If you aren't planning a big loan for home/business in next 6 months, then stop checking score so frequently.
Unless you consistently have cur>50% or 4-5 hard enquiry every month it won't drop below 760.
There are people who brag about checking cibil everyday. I can never understand them.
🤭

 

[Sahilhenzy]

Hello Experts,

I need to make payments of around 5L in 2 consecutive months each. It will be about 50% of my credit limit on one of the cards. The credit limit (10L) is shared across 2 cards. I want to know if this will impact the CIBIL score somehow? Is the high utilization considered for impact with that specific card or across the total credit limit of multiple cards? (in later case the utilization will only come up to be 10%)

The reason I am asking is, I already have an unresolved issue with CIBIL (https://www.technofino.in/community/threads/transunion-is-fraud.17575/), though I have given up on already. In this case the reason they tried to whitewash me with was that my "current balance" was increased for 2 months, probably bcz of more than usual utilization (still < 5%) for 2 consecutive months even though the bills were still paid in full.

I will only be paying the 2nd part of the transaction after setteling the dues, but still want to know if there's any possibility of impact

TIA

Nothing it's does not effect the score at all however bank will look at your utilisation before approving your application.

 

[Sahilhenzy]

Max 10-15 point will be gone even if it's reported 50% of cur .

Cheers mate .
Just don't apply card it will bounce back the day utilisation is reported less .

Cards are for convience. Use it

Don't stress about score much .

My score goes 10 point up and down every month..
Unless u have OCD with cibil score it should not bother you

Nothing will happen. 60% pe bhi score 800+ hai family member ka.

 

[Sahilhenzy]

These bastards SCB reported cibil utilisation by -252% still score is at the top.

 

[Vasuki]

I think I do have an OCD 🤣 the score was 792 before it suddenly dropped to 763, ~2 yrs back for no visible reasons. And since then I am fretting over it despite other credit scores being in 850+ range all this time. I think I need to stop checking cibil every 1-2 months 😂

OCD is OCD after all.

If u have work u don't think about OCD

Nothing will happen. 60% pe bhi score 800+ hai family member ka.

Yes after so many years it doesn't matter
For me 772-775 is when my cur is below 10
After 10-30 cur it's 763-765..
Seeing it from months

But I m ok with it let it be

I m waiting for apay via fc cc & hdfc pre approved..
But I will make cur below 5 next month definitely

 

[Sahilhenzy]

@DocFixIt bro really? Ye upar main kon log hai bro yaha Transunion jor jor se chilata hai ki frequently cibil check kro woh kro aur yaha log check krne se darte hai? What is this yr 😂

 

[Vasuki]

View attachment 51373

@DocFixIt bro really? Ye upar main kon log hai bro yaha Transunion jor jor se chilata hai ki frequently cibil check kro woh kro aur yaha log check krne se darte hai? What is this yr 😂

This is American answer.

I refresh my cibil daily 🤣.
Soft enquiry
6*30 =180 in 180 days lol


This myth was most circulated by Bajaj emi PPL

 

[Sahilhenzy]

This is American answer.

I refresh my cibil daily 🤣.
Soft enquiry
6*30 =180 in 180 days lol


This myth was most circulated by Bajaj emi PPL

This is a Indian version and CIBIL itself says checking your credit score does not reduce score.

 

[Vasuki]

View attachment 51377

This is a Indian version and CIBIL itself says checking your credit score does not reduce score.

True true
It's just fear mongering and heard mentality..once u hear u think it's true without own research

 

[sidp]

@DocFixIt bro really? Ye upar main kon log hai bro yaha Transunion jor jor se chilata hai ki frequently cibil check kro woh kro aur yaha log check krne se darte hai? What is this yr 😂

I was talking about hard enquiry. There is difference between option and obsession. If you have option to check daily well n good but doesn't mean you should.

They are promoting to check daily so that more people will be obsessed with the score & addicted to check it frequently, Which would lead to them buying subscription and more revenue for cic.

For every hard enquiry, you would automatically get a notification. So no need for an impromptu check.
So many people are more focused on cibil score than income as if cibil matters more than income for any kind of loan/cc.

 

[ankit_tf]

I was talking about hard inquiry. There is difference between option and obsession. If you have option to check daily well n good but doesn't mean you should.

They are also promoting to check daily so that more people will be obsessed with the score & addicted to check it frequently, Which would lead to them buying subscription and more revenue for cic.

For every hard enquiry you would automatically get notifications. So no need for an impromptu check.
So many people are more focused on cibil score than income as if cibil matters more than income for any kind of loan/cc.

for people whose income is sorted, a major chunk will have loan(s) at some point in time, all they can do is keep check on cibil for when that need arises. Unfortunately when I needed loan, my cibil was significantly below the usual (still in a good range though). But I didn't have option to negotiate with bank because of that stupid issue (it wouldn't have mattered much anyway, like may be 0.05%).

Now based on ur statement, I am wondering if there are people who are leaving their job to "focus" on their cibil. do u know any? just asking 😀

 

[sidp]

for people whose income is sorted, a major chunk will have loan(s) at some point in time, all they can do is keep check on cibil for when that need arises. Unfortunately when I needed loan, my cibil was significantly below the usual (still in a good range though). But I didn't have option to negotiate with bank because of that stupid issue (it wouldn't have mattered much anyway, like may be 0.05%).

Now based on ur statement, I am wondering if there are people who are leaving their job to "focus" on their cibil. do u know any? just asking 😀

Like you said the difference wouldn't have been much. So what's the point of stressing about it?
Only 3 level matters , <750 =bad, Especially if you have some derogatory remarks.

Most banks say >750 but sometimes decline at 750. So for most cc>760

For big loan where you can actually negotiate you need > 800. It's pretty common for scores to fluctuate by 5-10 points. so it might drop below threshold exactly when someone need it( just like it happened with you).

If score <800 but Still >770/780, if you are salaried with net salary >2/2.5L, you can negotiate. Someone with that salary has more negotiation power than a self employed who earns 5L or even more. (This negotiation power is only for interest rate. For availing services only nrv matters)

One thing is when you are negotiating don't give consent to hard enquiry. You can say this is my credit profile. What is best % you can offer me. One big mistake people do is they share all details directly and once an agent get hold of it, they'll do multiple enquiries from multiple issuers. After few declinations , score drops significantly.