Can I lower my credit card limit

[chirag_d]

Hey
I am new to the forum
Yes this is a genuine question
I recently applied for HDFC Swiggy cc and I have received it with a limit of 3L rupees.
I don't think I spend that much and so my credit utilisation is usually around 5-6%
Does it affect my credit score
If yes how can I lower my credit limit?

 

[RitamModak]

Hey Welcome to the forum!

Your credit utilization ratio (CUR) is one of the key factors that affect your credit score. Ideally, keeping it below 30% is considered good, and having it between 5-10% is actually excellent. Since you're using 5-6% of your ₹3L limit, it's not negatively affecting your credit score—in fact, it might be helping it!

Should You Lower Your Credit Limit?​

Lowering your credit limit is usually not recommended unless you have a specific reason (e.g., self-control over spending). Here's why:
Higher Limit, Lower CUR: Keeping a high limit while spending less keeps your credit utilization low, which is great for your score.
Better Creditworthiness: A higher limit shows banks you're a responsible borrower, which can help with future credit approvals.
Emergency Flexibility: If you ever need extra credit for emergencies, you already have it.

How to Lower Your Credit Limit (If You Still Want To)​

If you're sure you want to reduce your limit, you can:

1. Call HDFC Customer Care and request a limit reduction.
2. Visit a Branch and submit a written request.
3. Use Net Banking (Some banks allow limit adjustments online).

But again, there's no harm in keeping the ₹3L limit as long as you manage it well! Hope this helps

 

[hitirfan]

Hey
I am new to the forum
Yes this is a genuine question
I recently applied for HDFC Swiggy cc and I have received it with a limit of 3L rupees.
I don't think I spend that much and so my credit utilisation is usually around 5-6%
Does it affect my credit score
If yes how can I lower my credit limit?

Have high Credit Limit is good for Credit Score. You may only face issue to get some credit cards in future due to over leverage issue like SBI.

You can get it lowered.

 

[GURUWALKE]

Hey
I am new to the forum
Yes this is a genuine question
I recently applied for HDFC Swiggy cc and I have received it with a limit of 3L rupees.
I don't think I spend that much and so my credit utilisation is usually around 5-6%
Does it affect my credit score
If yes how can I lower my credit limit?

Highest Limit is Good for cibil. .. Lower credit utilization helps building score.

 

[santoshraut]

Always go for higher credit limit, for security reasons you can set appropriate transaction limits like- per day transaction limit and per transaction limit as per categories and modes...

 

[raj..]

Hey
I am new to the forum
Yes this is a genuine question
I recently applied for HDFC Swiggy cc and I have received it with a limit of 3L rupees.
I don't think I spend that much and so my credit utilisation is usually around 5-6%
Does it affect my credit score
If yes how can I lower my credit limit?

That's great limit!!
No 5-6 % utilization is best.
If you don't want to spend that much amount just set limit on your card, you'll get that option on manage card section of your app or netbanking.

Don't lower your credit limit.