I have been using my credit card usage for more than 30%

[tejaskay]

I have been using my credit card for more than 30% of its limit but i make sure i pay it on time will i get a income tax notice for this??

Will it effect my credit score in a negative way?

 

[Skylar]

I have been using my credit card for more than 30% of its limit but i make sure i pay it on time will i get a income tax notice for this??

Nope, If you make purchases more than 10L in a financial year then you would get the notice.

 

[Skylar]

Will it effect my credit score in a negative way?

A little bit not much.

 

[sherin.real1]

A little bit not much.

I guess if he pays and brings it under 30% before the bank reports to the credit bureau and before the bill is generated then it won't hurt the credit score

 

[hitirfan]

I guess if he pays and brings it under 30% before the bank reports to the credit bureau and before the bill is generated then it won't hurt the credit score?

Yes. Paying bill before CUR it is reported to Credit Bureaus will help. It can be bill date or last day of the month.

 

[Vara Prasad]

I have been using my credit card for more than 30% of its limit but i make sure i pay it on time will i get a income tax notice for this??

Will it effect my credit score in a negative way?

If you only have one credit card and using more than 30% of its limit then your credit score is going to get impacted but only by a bit.

But if you have other credit cards too then you have to keep all the credits combined below 30%. Hence it's okay even if you use more than 30% of your limit as long as you keep the overall combined credit below 30%.

 

[hitirfan]

If you only have one credit card and using more than 30% of its limit then your credit score is going to get impacted but only by a bit.

But if you have other credit cards too then you have to keep all the credits combined below 30%. Hence it's okay even if you use more than 30% of your limit as long as you keep the overall combined credit below 30%.

Do u mean sab cards ki CL milake 30% kam rakhna hai isko?

 

[sherin.real1]

Do u mean sab cards ki CL milake 30% kam rakhna hai isko?

No, they do each cc utilization too.

 

[hitirfan]

No, they do each cc utilization too.

Yes

 

[tejaskay]

Nope, If you make purchases more than 10L in a financial year then you would get the notice.

thanks for your response really helpful

 

[tejaskay]

I guess if he pays and brings it under 30% before the bank reports to the credit bureau and before the bill is generated then it won't hurt the credit score

Yes i always make sure to pay it before the bill is generated