Reduce or decrease credit card limit

[Abinesan selvarajan]

I have many credit cards with credit limit of 3 to 4 lakhs each. Total credit limit is nearly 15 lakhs but I use maximum of 80k per month. Due to this my credit utilisation ratio has gone down. I want to know if it is possible to reduce my credit limit of my credit cards. If yes then how.

I have sbi cc, hdfc cc and Icici cc.

 

[Skylar]

I have many credit cards with credit limit of 3 to 4 lakhs each. Total credit limit is nearly 15 lakhs but I use maximum of 80k per month. Due to this my credit utilisation ratio has gone down. I want to know if it is possible to reduce my credit limit of my credit cards. If yes then how.

I have sbi cc, hdfc cc and Icici cc.

Maintaining a low credit utilization ratio is generally beneficial. My overall limit is 19 lac and my utilization is 10k to 20k every month and occasionally crosses 50/60k and my score CIBIL 792, Experia 802.

I’m curious about why you’d like to reduce your credit limit. Could you share more details about your specific situation or concerns?

 

[Gogineni]

I have many credit cards with credit limit of 3 to 4 lakhs each. Total credit limit is nearly 15 lakhs but I use maximum of 80k per month. Due to this my credit utilisation ratio has gone down. I want to know if it is possible to reduce my credit limit of my credit cards. If yes then how.

I have sbi cc, hdfc cc and Icici cc.

Maintaining a low credit utilization ratio is generally beneficial. My overall limit is 19 lac and my utilization is 10k to 20k every month and occasionally crosses 50/60k and my score CIBIL 792, Experia 802.

I’m curious about why you’d like to reduce your credit limit. Could you share more details about your specific situation or concerns?

Why you want to decrease your credit limit? low utilization ratio is actually helps you increase your score.

 

[Bharatiya Nagrik]

I have many credit cards with credit limit of 3 to 4 lakhs each. Total credit limit is nearly 15 lakhs but I use maximum of 80k per month. Due to this my credit utilisation ratio has gone down. I want to know if it is possible to reduce my credit limit of my credit cards. If yes then how.

I have sbi cc, hdfc cc and Icici cc.

Credit utilisation ratio going down is a very good thing for increasing credit score. Why do you see it as a problem?