limit enhancement query

[gaman809]

hey folks

i have a query i use my axis card 70-80% monthly hdfc 40-50% monthly and sbi is also same.

i wanna ask for what basis bank gave limit enhancement offers on credit card how much i should utilise to get an offer or if i am using full limit can i pay bill before statement date
so my utilisation will decrease?

it will work or not kindly gave me your suggestion. Thanks

 

[Riteshavenger]

hey folks

i have a query i use my axis card 70-80% monthly hdfc 40-50% monthly and sbi is also same.

i wanna ask for what basis bank gave limit enhancement offers on credit card how much i should utilise to get an offer or if i am using full limit can i pay bill before statement date
so my utilisation will decrease?

it will work or not kindly gave me your suggestion. Thanks

Keep utilisation below 30%

 

[gaman809]

did u read my last lines

 

[Tosh]

hey folks

i have a query i use my axis card 70-80% monthly hdfc 40-50% monthly and sbi is also same.

i wanna ask for what basis bank gave limit enhancement offers on credit card how much i should utilise to get an offer or if i am using full limit can i pay bill before statement date
so my utilisation will decrease?

it will work or not kindly gave me your suggestion. Thanks

Reporting dates varies bank to bank so check for the cards you own to figure out by when do you need to pay back for maintaining low utilisation

 

[emadiqbalali]

hey folks

i have a query i use my axis card 70-80% monthly hdfc 40-50% monthly and sbi is also same.

i wanna ask for what basis bank gave limit enhancement offers on credit card how much i should utilise to get an offer or if i am using full limit can i pay bill before statement date
so my utilisation will decrease?

it will work or not kindly gave me your suggestion. Thanks

Yes, you can pay before bill generation to keep your utilization low. AFAIK, on CIBIL the utilization will go down and score gets better.
For the banks, some gives you LE on spending and using more while some banks give you when you are not using at all.

I know about HDFC that it gives LE to those who uses the card very less.

 

[gaman809]

Reporting dates varies bank to bank so check for the cards you own to figure out by when do you need to pay back for maintaining low utilisation

& how i can figure out when will my bank report to my cibil?

 

[CARDBITRAGE]

& how i can figure out when will my bank report to my cibil?

https://www.technofino.in/community/threads/credit-card-cibil-reporting-date.375/

 

[iamabhisekagar]

hey folks

i have a query i use my axis card 70-80% monthly hdfc 40-50% monthly and sbi is also same.

i wanna ask for what basis bank gave limit enhancement offers on credit card how much i should utilise to get an offer or if i am using full limit can i pay bill before statement date
so my utilisation will decrease?

it will work or not kindly gave me your suggestion. Thanks

If your Axis CC is more than 6 month old then mail the Nodal Officer asking them for limit Enhancement...just last week I did that and got mine...once you get a limit Enhancement then wait for next bill to get generated (as it will reflect the new credit limit)... repeat the same with HDFC (IDK how HDFC works but they may ask for a CC statement of your other bank and here your Axis Bank statement will work a supporting document)

For SBI, get a new Card (preferably SBI BPCL as it has fee waiver in 50k)...ask Customer Care to transfer the limit of BPCL card to your existing card

Note that For Axis I have got the LE, for SBI I am going to opt for the above method and for HDFC I have no Idea how they work but you must have a CC Statement with your enhanced Credit Limit, it may come handy!

 

[Sandy213]

Keep utilisation below 30%

Ideally, you should keep your cards utilisation below 30%. Ask RM or customer care to increase your credit limit to ensure enhanced usage of their bank card. If banks don't increase your credit limit; exercise the option of either taking more credit cards or resorting to part payments before statement date.

 

[anilkrsh]

In my experience, limit enhancement is based on spends and regular payments. Banks like HDFC and ICICI gave me bumper LE as i buy a lot of products with merchant emi.
For HDFC, you can download limit enhancement form, attach salary slips and bank statement and speed post it to HDFC banks card division. They should enhance it within few weeks.

 

[nangkong]

If your Axis CC is more than 6 month old then mail the Nodal Officer asking them for limit Enhancement...just last week I did that and got mine...once you get a limit Enhancement then wait for next bill to get generated (as it will reflect the new credit limit)... repeat the same with HDFC (IDK how HDFC works but they may ask for a CC statement of your other bank and here your Axis Bank statement will work a supporting document)

For SBI, get a new Card (preferably SBI BPCL as it has fee waiver in 50k)...ask Customer Care to transfer the limit of BPCL card to your existing card

Note that For Axis I have got the LE, for SBI I am going to opt for the above method and for HDFC I have no Idea how they work but you must have a CC Statement with your enhanced Credit Limit, it may come handy!

didnt the nodal officer ask for pay slip or itr?

 

[iamabhisekagar]

didnt the nodal officer ask for pay slip or itr?

Yes he did