Home loan credit utilisation

[dg1]

Hi Everyone,

If I take a home loan does it get counted under credit utilisation for generating monthly cibil score.

I have credit multiple credit cards which have combined limit of 9 lacs and now planning to take a home loan of ~45lacs.

So once I get the home loan will my credit utilisation will be counted including home loan amount or credit utilisation is only applicable for credit cards. Am I missing anything?

 

[zacobite]

Hi Everyone,

If I take a home loan does it get counted under credit utilisation for generating monthly cibil score.

I have credit multiple credit cards which have combined limit of 9 lacs and now planning to take a home loan of ~45lacs.

So once I get the home loan will my credit utilisation will be counted including home loan amount or credit utilisation is only applicable for credit cards. Am I missing anything?

it is not counted as utilization.. However it will improve your score once u start repaying on time

 

[dg1]

it is not counted as utilization.. However it will improve your score once u start repaying on time

Thank you for your response.
1.After taking home loan will there be any difficulty in getting any new credit card if I apply in future. Like for SBI credit card or any other card.

2.Once I take home loan does new credit card issuer consider it as over leveraging.

 

[zacobite]

Thank you for your response.
1.After taking home loan will there be any difficulty in getting any new credit card if I apply in future. Like for SBI credit card or any other card.

2.Once I take home loan does new credit card issuer consider it as over leveraging.

No.. go ahead.. as long as u pay on time and maintain a good record Home Loan will help u increase your score.. Credit Mix is also given weight in the score

 

[dg1]

Thank you

 

[harsh_ujjwal]

Hi Everyone,

If I take a home loan does it get counted under credit utilisation for generating monthly cibil score.

I have credit multiple credit cards which have combined limit of 9 lacs and now planning to take a home loan of ~45lacs.

So once I get the home loan will my credit utilisation will be counted including home loan amount or credit utilisation is only applicable for credit cards. Am I missing anything?

Only revolving credit is used to calculate CUR. But Home Loan will have effect on your score your score may increase.