Credit card money

[kathir]

Hello friends I am some doubts in credit card. I am having one credit card limit is 75000. I have taken a money from credit for example August 1 I have taken 20000 in credit card my credit card statement will generate in August 12 after couple of days . After my billing was generated I have taken another 20000k in credit card. It will affect my credit score and how to calculate utilization percentage

 

[shivamid6]

Hello friends I am some doubts in credit card. I am having one credit card limit is 75000. I have taken a money from credit for example August 1 I have taken 20000 in credit card my credit card statement will generate in August 12 after couple of days . After my billing was generated I have taken another 20000k in credit card. It will affect my credit score and how to calculate utilization percentage

It is advisable to use upto 30% of your credit limit.
In your case 30% of your credit limit is 22500. And as you said you spent 20K on 1st August, that is less than 30%. So, this will not affect your credit score. And the another 20K that you have spent after the bill generation will be counted in next cycle.

 

[abhimarda]

It is advisable to use 30% of your credit limit.
In your case 30% of your credit limit is 22500. And as you said you spent 20K on 1st August, that is less than 30%. So, this will not affect your credit score. And the another 20K that you have spent after the bill generation will be counted in next cycle.

Should have written as "advisable to use upto 30%" as the statement seems to say one should spend 30% whether required or not

 

[hitirfan]

Depends on card also. Some banks report utilization to CIBIL at the end of the month, so im such cases, if u prepay the amount atleast 3 days before the end month, that won't effect your CIBIL

 

[kathir]

It is advisable to use upto 30% of your credit limit.
In your case 30% of your credit limit is 22500. And as you said you spent 20K on 1st August, that is less than 30%. So, this will not affect your credit score. And the another 20K that you have spent after the bill generation will be counted in next cycle.

Thanks .just for clarification after bill generated I can take another 20000 after my billing generate date .that will not affect my cibil score right?

 

[shivamid6]

Thanks .just for clarification after bill generated I can take another 20000 after my billing generate date .that will not affect my cibil score right?

Yup ,No affect.