Using of Credit Limit Utilization Ratio

[SPEEDSTERV4]

I have a SBI CC limit of 57k I almost use around 80 percent of credit. But before billing date I cleared 90-95 percent bill.
So now what will be the good effect and bad effect???

 

[ashwink]

I have a SBI CC limit of 57k I almost use around 80 percent of credit. But before billing date I cleared 90-95 percent bill.
So now what will be the good effect and bad effect???

But still your utilization will be reported by bank whether you have repaid it before bill generation.

 

[ashwink]

But still your utilization will be reported by bank whether you have repaid it before bill generation.

I have noticed it on OneCard not sure about sbi.

 

[BankExpertIndia]

Not Much Effect Of Credit Limit Utilisation... So Just Don't Worry... Keep Enjoying

 

[SPEEDSTERV4]

Thanks buddy.

 

[ashwink]

Only thing you really have to worry about is timely payments

Haan 👍

 

[SPEEDSTERV4]

Haan 👍

Any negative effect on CIBIL?

 

[SPEEDSTERV4]

High Credit dikha rha uska matlab kya hai?? 😢😢

 

[SPEEDSTERV4]

That's nothing
Just highest limit used

Agar kabhi v Aisa hoga credit use hua to Bank in future Limit enhancement ka offer consider karega mujhe??

 

[ashwink]

Any negative effect on CIBIL?

Yes cibil will not grow 🥲

 

[SPEEDSTERV4]

Yes cibil will not grow 🥲

Haan this month CIBIL 1 points v nhi increase hua

 

[SPEEDSTERV4]

Yes yes don't worry
But everything depends on bank's mood

Ok

 

[SPEEDSTERV4]

That's a different thing
Even my Cibil is stuck at 769 for few weeks

If I Spend more than 10 lakhs in a FY via Credit Card then Income tax dept. ka notice aa sakta hai?

 

[ashwink]

If I Spend more than 10 lakhs in a FY via Credit Card then Income tax dept. ka notice aa sakta hai?

Obviously yes if you didn't submit your itr.

 

[SPEEDSTERV4]

Obviously yes if you didn't submit your itr.

If I spend less so then no notice right?

 

[ashwink]

If I spend less so then no notice right?

Only spends upto 2.5l not required itr mandatory for greater than this