Credit card utilisation ratio

[Abhi7hek]

Which credit utilization amount is reflected in the credit bureau report?
Is it based on the statement amount from the previous month or the total utilized credit, including the amount used after the statement is generated?

For example, if my credit limit is ₹30,000 and my total used credit is ₹12,000, with ₹8,000 as the due amount, will my credit utilization be calculated based on ₹12,000 or ₹8,000?

Also, My statement date is the 15th of every month, and the reporting date is the last day of the month.

 

[abhimarda]

Banks are now required to update data on at least fortnightly basis. Some banks may do more frequently. So the credit utilisation will be based on outstanding on that date. We must not fret too much on it and just try to keep overall utilisation below 30%. If it goes above 30% once in a while it will not have much effect

 

[launchcraft]

Whenever I checked my credit report it is always the due amount for that particular month.
So I don't think so total amount due plays a role here.
Do check your credit report, in your case it will surely be 8.000.

 

[abhimarda]

Whenever I checked my credit report it is always the due amount for that particular month.
So I don't think so total amount due plays a role here.
Do check your credit report, in your case it will surely be 8.000.

Thats not correct in all cases. Different banks report at different times. Some report at month end while some report as and when bill is generated. Some have started reported reporting twice a month as per RBI guidelines. Probably your bank is reporting the billed figures. I get different amounts for different cards which are not necessarily final billed amount.

 

[zacobite]

Whenever I checked my credit report it is always the due amount for that particular month.
So I don't think so total amount due plays a role here.
Do check your credit report, in your case it will surely be 8.000.

that's probably bcoz that bank uses stmt date to report.. will vary basis bank... Utilization on date of reporting will be applicable