Will my credit score decreased if I didn't increase my credit limit

[rakeshmaity15]

My credit limit is 5000 I have purchased a product on Amazon of worth 4944 in EMI of 9 months of 544 ruppes so should I increase my credit limit to do not effect in my credit score or it will not down my credit score or It will down my score once. If anyone have faced this please reply me.

 

[Bharatiya Nagrik]

You should always increase your credit limit whenever you get that offer from Bank.
Always make sure you just use max 30 percent of your CL. I case you need to use more than that then ensure you pay back most of the amount before the statement generation date and only keep around 30 percent balance so that your credit utilisation is not impacted. Once or twice is fine but repeatedly utilising more than 30 percent of credit limit will impact your Credit score.

 

[suru]

My credit limit is 5000 I have purchased a product on Amazon of worth 4944 in EMI of 9 months of 544 ruppes so should I increase my credit limit to do not effect in my credit score or it will not down my credit score or It will down my score once. If anyone have faced this please reply me.

Need not to worry if u do not have more spends to do but keep in mind that ur total emi amount is locked in from ur credit limit & get freed after each emi payment by d installment amount u pay

 

[rakeshmaity15]

Need not to worry if u do not have more spends to do but keep in mind that ur total emi amount is locked in from ur credit limit & get freed after each emi payment by d installment amount u pay

Actually now I have total 2 credit cards one limit 5000(emi ongoing) 2nd 10k limit so i checked on crif there showing utilisation together as percentage out of 15000 limit will it same for cibil and experian

 

[rooohiit]

@rakeshmaity15 I understand, that you are asking if your credit limit ( total spending limit ) in your credit card will not increase then, will your credit score decreases. And the answer is a straight no. See credit score does not depend on what is your credit limit. It only depends on two factors that are - timely payment on your credit card and utilization of your credit card less or more than 30 percent and that is all that's matter.

 

[17ysaurabh]

Actually now I have total 2 credit cards one limit 5000(emi ongoing) 2nd 10k limit so i checked on crif there showing utilisation together as percentage out of 15000 limit will it same for cibil and experian

Yes, @rakeshmaity15
The credit utilisation percentage is calculated on the total credit used in all credit cards / total credit limit of all credit cards.

 

[Skylar]

My credit limit is 5000 I have purchased a product on Amazon of worth 4944 in EMI of 9 months of 544 ruppes so should I increase my credit limit to do not effect in my credit score or it will not down my credit score or It will down my score once. If anyone have faced this please reply me.

Nope.
My HDFC card limit 84,000
I bought laptop for 75000 for 6 months EMI, and have tracked cibil score for 6 months No effect on my CIBIL score.
EMI transaction are converted into small parts and shown in bill every month so credit utilisation ratio didn't increase for me.