Using 90% of credit limit of sbi CB card for a month only...will it impact cibil score

[ujjwal2024]

I need to buy air ticket which will cost me 1.15 Lakhs...the credit limit on my SBI CB card is 1.25 Lakhs
Now If I buy the ticket with CB card, I will get Rs, 5000 cashback and I am happy with it as it will also ensure Rs. 1200 annual fee waiver...
But, whether this will affect my civil score?

 

[Sriim]

I need to buy air ticket which will cost me 1.15 Lakhs...the credit limit on my SBI CB card is 1.25 Lakhs
Now If I buy the ticket with CB card, I will get Rs, 5000 cashback and I am happy with it as it will also ensure Rs. 1200 annual fee waiver...
But, whether this will affect my civil score?

If you're worried about CIBIL impact, you can immediately repay the amount

Kindly mark as solution if it helps you

 

[EternallyHopeful]

I need to buy air ticket which will cost me 1.15 Lakhs...the credit limit on my SBI CB card is 1.25 Lakhs
Now If I buy the ticket with CB card, I will get Rs, 5000 cashback and I am happy with it as it will also ensure Rs. 1200 annual fee waiver...
But, whether this will affect my civil score?

Once or twice done, it doesn't affect much AFAIK. Even if there is some drop in points, usually the CIBIL recovers in following months. So I guess it's not that worrisome. I don't know but I've read here on TF that paying this amount before statement generation could prevent the bank from reporting high credit utilisation to CIBIL. Experts may throw some light. @SSV

 

[Adith]

I need to buy air ticket which will cost me 1.15 Lakhs...the credit limit on my SBI CB card is 1.25 Lakhs
Now If I buy the ticket with CB card, I will get Rs, 5000 cashback and I am happy with it as it will also ensure Rs. 1200 annual fee waiver...
But, whether this will affect my civil score?

If you pay it off before statement generation date then it wouldnt. @SSV Please correct me if im wrong.

It would also show your High credit as 1.2L and pending balance as 0 if you pay before statement generation.

 

[ujjwal2024]

If you're worried about CIBIL impact, you can immediately repay the amount

Kindly mark as solution if it helps you

no option to mark as solution

 

[ujjwal2024]

If you pay it off before statement generation date then it wouldnt. @SSV Please correct me if im wrong.

It would also show your High credit as 1.2L and pending balance as 0 if you pay before statement generation.

Got my solution within 5 minutes..
Great community
I will pay around rs. 80,000 just 5 days before the statement generation

 

[sudoabhi]

If you pay it off before statement generation date then it wouldnt

paying this amount before statement generation could prevent the bank from reporting high credit utilisation to CIBIL

yes it is true

 

[shashankrt]

I need to buy air ticket which will cost me 1.15 Lakhs...the credit limit on my SBI CB card is 1.25 Lakhs
Now If I buy the ticket with CB card, I will get Rs, 5000 cashback and I am happy with it as it will also ensure Rs. 1200 annual fee waiver...
But, whether this will affect my civil score?

Well if you wait for payment till due date then this will be reported to CIBIL and will result in temp drop of few points. However this will also be useful in long term as it will show your repayment capacity as well as probably limit enhancement from SBI.

The score will recover in 2-3 months so dont worry about the drop. Also the benefits you are getting are much more than the temp CIBIL score drop IMO.

 

[ujjwal2024]

Well if you wait for payment till due date then this will be reported to CIBIL and will result in temp drop of few points. However this will also be useful in long term as it will show your repayment capacity as well as probably limit enhancement from SBI.

The score will recover in 2-3 months so dont worry about the drop. Also the benefits you are getting are much more than the temp CIBIL score drop IMO.

Yes...this is also great perspective...will think about this point before taking final decision to repay before statement generation date

 

[Sriim]

Got my solution within 5 minutes..
Great community
I will pay around rs. 80,000 just 5 days before the statement generation

SBI reports twice i think. So better to repay as early as you can

 

[Sriim]

If you're worried about CIBIL impact, you can immediately repay the amount

Kindly mark as solution if it helps you

no option to mark as solution

@vaibhav111 some help please

 

[BVCBVC is verified member.]

For any thread to mark as solution, the thread while creating should be a question. So OP has to modify thread type to question.

 

[BVCBVC is verified member.]

I need to buy air ticket which will cost me 1.15 Lakhs...the credit limit on my SBI CB card is 1.25 Lakhs
Now If I buy the ticket with CB card, I will get Rs, 5000 cashback and I am happy with it as it will also ensure Rs. 1200 annual fee waiver...
But, whether this will affect my civil score?

If you have multiple credit cards your overall utilization ratio matters, not at the card level. But multiple times doing it might have an impact, once in a while it should not be a problem.

 

[Sriim]

For any thread to mark as solution, the thread while creating should be a question. So OP has to modify thread type to question.

How should that be done? I tried editing one of my posts and couldn't find the option to change thread type

 

[Krishna Kumar]

I used 80% of my limit for last 3 months consecutively... Cibil dropped by 12 points.
Requested SBI for LE.

 

[EternallyHopeful]

I used 80% of my limit for last 3 months consecutively... Cibil dropped by 12 points.
Requested SBI for LE.

Sometimes LTF cards are helpful in this way. Even though you won't use them much, they'll help bring overall credit utilisation down.

 

[ujjwal2024]

I used 80% of my limit for last 3 months consecutively... Cibil dropped by 12 points.
Requested SBI for LE.

Did SBI approved your LE request?

 

[BVCBVC is verified member.]

How should that be done? I tried editing one of my posts and couldn't find the option to change thread type

I have changed it. OP can mark as solution.

 

[ujjwal2024]

Sometimes LTF cards are helpful in this way. Even though you won't use them much, they'll help bring overall credit utilisation down.

yes...this is so true...hence no harm in collecting LTF cards and doing 1 small transaction in a year

 

[Krishna Kumar]

Did SBI approved your LE request?

Request in consideration. Will get an update before 28 Aug.