What credit card payment strategy do we have to use?

[sudhakarcool]

Hi Experts,

I'm just curious about the payment of credit cards after usage. I mostly pay the used amount instantly after using the card for transactions. Like if I bought a 10k rupees item on Amazon, then I make a payment of 10k on the same day using the cred application. Is this strategy is ok, or is it wrong as per CIBIL? Does this impact on CIBIL?

 

[krishna1718]

ok but keep atleast 1000-2000 for generating bill after bill generate you can pay this will make your creditcard utilization 2-3%

 

[abhimarda]

Hi Experts,

I'm just curious about the payment of credit cards after usage. I mostly pay the used amount instantly after using the card for transactions. Like if I bought a 10k rupees item on Amazon, then I make a payment of 10k on the same day using the cred application. Is this strategy is ok, or is it wrong as per CIBIL? Does this impact on CIBIL?

If you are using like this, then probably use a debit card. If you are not enjoying even a single day of credit period then then half the purpose of credit card is lost. You will earn points/cashback on credit card but there are many debit cards as well which gives decent points in card usage. Rather set up a standing instruction in your account for full payment or if you don't wish to do that then set a payment for future date payment in netbanking of your bank which is 5-7 working days prior to last date to pay.