Total Card Utilization- ICICI Amazon Pay Credit Card Apply

[friends2b11]

Total card utilisation plays an important role in credit card approval, right?

One of my friends has four HDFC credit cards with a shared limit of 1.5 lakhs.

SBI cashback card with a limit of 1.21 lakhs

Fk axis - 1.40 lakhs

ICICI secured fd card with a 90k limit.

IDFC WOW FD card—5k limit

So he has a total credit limit of almost 5 lakhs.

But currently he is using 70% of the credit limit as of 28th Feb (CIBIL reporting date).

Today he has paid some of his credit card bills.

As of today, his current utilisation is near 35-45%.

As the CIBIL reporting date differs from bank to bank. And I know that HDFC reports on the 6th-7th of the month. How much time does it take to reflect on CIBIL?


When should he apply for an Amazon Pay credit card? A financial year is going to end. Should he apply the card on the 8th-9th of March? Actually, he wants CIBIL to show less utilisation so that the card gets approved.

He is self employed

 

[hender]

ICICI secured fd card with a 90 lakh limit.

Initially seeing 90 Lakh.

🤔Full utilisation of 90 lakh.

 

[friends2b11]

Initially seeing 90 Lakh.

🤔Full utilisation of 90 lakh.

Sorry.typing mistake 90k *😅

 

[Mr. BeanMr. Bean is verified member.]

Total card utilisation plays an important role in credit card approval, right?

No one can definitely say this as each criteria has different levels of importance. It could be a red-flag, though.

If he buys regularly in Amazon, his chances of getting approval are bit more than a person who never bought anything (or bought occasionally) from Amazon.

What's his CIBIL score? Credit age?

And does he file ITR? If yes, how much?

When should he apply for an Amazon Pay credit card? A financial year is going to end. Should he apply the card on the 8th-9th of March?

Let him apply around 25th. He has nothing to loose except a CIBIL inquiry that doesn't change the CIBIL much.

If rejected, the next possible date to apply is 20 days prior to Diwali.

 

[friends2b11]

No one can definitely say this as each criteria has different levels of importance. It could be a red-flag, though.

If he buys regularly in Amazon, his chances of getting approval are bit more than a person who never bought anything (or bought occasionally) from Amazon.

What's his CIBIL score? Credit age?

And does he file ITR? If yes, how much?



Let him apply around 25th. He has nothing to loose except a CIBIL inquiry that doesn't change the CIBIL much.

If rejected, the next possible date to apply is 20 days prior to Diwali.

Credit age—1 year 5 months.

Currently he does not fill itr. He will file ITR this year.

Does the CIBIL report show immediately in CIBIL? Example: if HDFC reports on 7th March to CIBIL. Will it be visible the next day in the CIBIL report?

 

[hender]

Sorry.typing mistake 90k *😅

Ahh ... Don't mind.
90CR would have been different.😉

 

[Mr. BeanMr. Bean is verified member.]

Credit age—1 year 5 months.

Currently he does not fill itr. He will file ITR this year.

Ok. 18 months age. No ITR. 4 lac total credit limit (excluding secured cards) looks fine to me to get additional CC exposure. I've known 10+ lacs total credit limit without ITR.

Does the CIBIL report show immediately in CIBIL? Example: if HDFC reports on 7th March to CIBIL. Will it be visible the next day in the CIBIL report?

I don't track CIBIL much these days. I don't have HDFC CC either. However, as per the following thread, HDFC reports 4 times a month and will be visible on the next day.

Thread 'New CIBIL Reporting Frequencies of Various Banks from January 2025'

Dec 23, 2024

Guys,
We already know that the new norms of cibil reporting comes into place w.e.f 1 Jan 2025.
As per the new rules ,the banks and other financial institutions should report outstanding balances of loans and credit card accounts atleast every fortnight. In this regard some banks adopted fortnightly and some adopted weekly reporting.
Let's collate the list of various banks with their frequency of reporting here in this thread..
The following is the list of Banks with their respective frequency and reporting dates in a month:
We will add more banks to this list as and when the...

• SSV
• banks cibil new reporting
• Replies: 367
• Forum: Credit Score

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[hender]

I don't track CIBIL much these days. I don't have HDFC CC either.

"Quote of the day "