Sanctioned limit in Cibil

[Arun Pratheep]

My Credit Limit for Amazon Pay Credit card is 6 Lakhs but Sanctioned amount is 1.78 Lakhs. For other cards also its like this. What is Sanctioned Amount?

Also what is Current balance in Credit Summary?

 

[Arun Pratheep]

@Wealth is my birth right!

 

[Shrinit Padwal]

My Credit Limit for Amazon Pay Credit card is 6 Lakhs but Sanctioned amount is 1.78 Lakhs. For other cards also its like this. What is Sanctioned Amount?

Also what is Current balance in Credit Summary?

Where you are getting the 'Sanctioned amount'? in Cibil website or other platforms like onescore/gpay?

Current Balance in credit summary - amount outstanding on your card - last reported by bank. Current balance may change depending on when banks report to CIBIL, and what amount was outstanding on that particular reporting date

 

[Arun Pratheep]

Where you are getting the 'Sanctioned amount'? in Cibil website or other platforms like onescore/gpay?

Current Balance in credit summary - amount outstanding on your card - last reported by bank. Current balance may change depending on when banks report to CIBIL, and what amount was outstanding on that particular reporting date

I am getting sanctioned amount in Cibil App

 

[Shrinit Padwal]

I am getting sanctioned amount in Cibil App

That - okok - that is the high credit - means whatever highest txn you made till date on that card

 

[Arun Pratheep]

That - okok - that is the high credit - means whatever highest txn you made till date on that card

Oh, ok thanks for the clarification

 

[Shrinit Padwal]

Credit Limit - Full limit of 6 lakhs
Sanctioned amt - Highest txn/High credit
Current balance - Balance/outstanding reported by bank on date(monthly once bank report) - dates variable per bank

 

[panu24]

In my understanding its the highest amount utilized on your credit card.

 

[Wealth is my birth right!]

My Credit Limit for Amazon Pay Credit card is 6 Lakhs but Sanctioned amount is 1.78 Lakhs. For other cards also its like this. What is Sanctioned Amount?

Also what is Current balance in Credit Summary?

Nothing to worry about sanctioned amount it won’t have impact in card limit usage
It’s like central kyc that figure of sanctioned amount will be picked for new cards by banks as a bench mark

 

[Arun Pratheep]

Nothing to worry about sanctioned amount it won’t have impact in card limit usage
It’s like central kyc that figure of sanctioned amount will be picked for new cards by banks as a bench mark

Ok, Thanks