Safe to apply for a CC with a high-utilization report?

[akshayhs]

In the June-july cycle I had to pay for some major health expenses and naturally used my credit card to pay it off. The same has been settled with the lender on-time. But today, while checking my credit report, it has been reflected in my report (65% utilization) and the score dipped by 7 points.

I am planning to apply for an Axis bank credit card and the score is still above 750 for that matter. But I just wanted your opinions on whether doing it now is safe or should I wait it out until the credit report is updated? The statement cycle that followed the high spends, has stayed at 24%.

 

[007]

In the June-july cycle I had to pay for some major health expenses and naturally used my credit card to pay it off. The same has been settled with the lender on-time. But today, while checking my credit report, it has been reflected in my report (65% utilization) and the score dipped by 7 points.

I am planning to apply for an Axis bank credit card and the score is still above 750 for that matter. But I just wanted your opinions on whether doing it now is safe or should I wait it out until the credit report is updated? The statement cycle that followed the high spends, has stayed at 24%.

Axis is notorious for rejecting application. If I were you I would wait a month or two. Also as reported by some members here they might check Experian, so make sure that is good too!

 

[akshayhs]

Axis is notorious for rejecting application. If I were you I would wait a month or two. Also as reported by some members here they might check Experian, so make sure that is good too!

Experian is good. No issues with that so far. But a new report will only be available on 1st day of the month. So need to monitor that.

As said, I'll wait it out.

 

[TheMentalist]

Experian is good. No issues with that so far. But a new report will only be available on 1st day of the month. So need to monitor that.

As said, I'll wait it out.

where did you check your credit report?

 

[Shivaji]

May be not

 

[akshayhs]

where did you check your credit report?

I get my Experian reports from OneScore, and INDMoney.
I have an annual subscription to my CIBIL report that I can refresh it anytime I want (limited to once a day).

 

[Dr. Drake]

I applied for axis select card when my card utilization was around 86% & was approved next day. Try your luck or wait till report changes

 

[kunaljn91]

In the June-july cycle I had to pay for some major health expenses and naturally used my credit card to pay it off. The same has been settled with the lender on-time. But today, while checking my credit report, it has been reflected in my report (65% utilization) and the score dipped by 7 points.

I am planning to apply for an Axis bank credit card and the score is still above 750 for that matter. But I just wanted your opinions on whether doing it now is safe or should I wait it out until the credit report is updated? The statement cycle that followed the high spends, has stayed at 24%.

You can try your luck though! anyways axis doesn’t have any cooling period as per my knowledge, so you may be able to apply again without any issues!
My card was rejected twice, in 2 months, I applied again and it got approved!