Credit scores report

[rahuljain]

What's about this cibil report. What's the right with us & wrong. This is my first report.

 

[17ysaurabh]

Hi @rahuljain
You need to take care of the following things:

• Keep your credit utilisation to less than 30%: For this, you can either pay half of the outstanding even before the bill is generated or try to increase your credit limit
• Credit Mix: Add different kinds of credit services like pay later, personal loans, credit lines, credit cards, etc.

 

[erraghav]

Hello @all
I Have 2 credit cards
1st have 121k limit
2nd have 80k limit
Now I am using 38% of card 1
and 8% from 2nd card
so the total limit is mine used 26%
So it is less than 30% is this a good
or I have maintained All credit limits less than 30%from all cards

 

[Skylar]

Hello @all
I Have 2 credit cards
1st have 121k limit
2nd have 80k limit
Now I am using 38% of card 1
and 8% from 2nd card
so the total limit is mine used 26%
So it is less than 30% is this a good
or I have maintained All credit limits less than 30%from all cards

Individual card 30% is recommended.

But crossing 30% is no sin, my HDFC card has only 84K limit and I mostly cross 40% to 55% and occasionally 90% but no cibil drop as long as I'm paying the bill on time.

 

[erraghav]

Individual card 30% is recommended.

But crossing 30% is no sin, my HDFC card has only 84K limit and I mostly cross 40% to 55% and occasionally 90% but no cibil drop as long as I'm paying the bill on time.

My cibil score is dropping that's why i am asking all payment done on time never delay

 

[Skylar]

My cibil score is dropping that's why i am asking all payment done on time never delay

How much drop?

 

[erraghav]

How much drop?

5-10 points

 

[Skylar]

5-10 points

That drip for 38% utilization is unlikely

Which bank cards are those?

 

[hitirfan]

That drip for 38% utilization is unlikely

Which bank cards are those?

Hojata hai kabhi. Mje 80K limit hai HDFC mai, use mai 20K aya CIBIL, Experian pe, usse points gire mje kch. Credit Utilization of 1-10 is best.

 

[Skylar]

Hojata hai kabhi. Mje 80K limit hai HDFC mai, use mai 20K aya CIBIL, Experian pe, usse points gire mje kch. Credit Utilization of 1-10 is best.

 

[Skylar]

Now I realised I never used above 30% on my cards form last 1 year.
Except for one time when I bought laptop and used 95% of the credit. but no drop as I paid it on time.

 

[hitirfan]

Now I realised I never used above 30% on my cards form last 1 year.
Except for one time when I bought laptop and used 95% of the credit. but no drop as I paid it on time.

Smart Bacha

 

[erraghav]

That drip for 38% utilization is unlikely

Which bank cards are those?

Axis Vistara
ICICI Amazon

 

[Skylar]

Axis Vistara
ICICI Amazon

So, you have an axis card then these sorts of drops are common.
ICICI reports on billing date so make sure you bring down the utilisation under 30% before billing date.
(Most people say this but banks usually report how much we spent to the credit bureau, so no escaping)
Axis few cards report on billing date few on month end so not sure in which category your card falls.

 

[erraghav]

Any suggestion Like should add 1 more Axis card Because the Axis Vistara card limit is not increasing because it very normal to use 40-60% use of my credit limit Due t my business and i got payment after 30 day from my clients

 

[hitirfan]

Any suggestion Like should add 1 more Axis card Because the Axis Vistara card limit is not increasing because it very normal to use 40-60% use of my credit limit Due t my business and i got payment after 30 day from my clients

Get CC of any other bank

 

[erraghav]

Get CC of any other bank

I am targeting 6 lakhs on card for 4th voucher

 

[hitirfan]

I am targeting 6 lakhs on card for 4th voucher

Then keep the utilization ratio below 30% by paying excess amount in advance

 

[Skylar]

Any suggestion Like should add 1 more Axis card Because the Axis Vistara card limit is not increasing because it very normal to use 40-60% use of my credit limit Due t my business and i got payment after 30 day from my clients

Using axis card for business
Be careful with that card.