Will use Over Limit Spend of Credit Card cause any damage to my Credit Score?

[iamvprxix]

Will use Over Limit Spend of Credit Card cause any damage to my Credit Score?

I have a HDFC BANK CREDIT CARD LIMIT OF RS.52,000 Since 2022 They have not increased i believe because I have 2 more HDFC CREDIT CARDS HDFC SWIGGY AND HDFC TATA NEU PLUS.

CURRENTLY I have a NO COST EMI on HDFC TATA NEU PLUS CARD Rs.2600 is outstanding I have an available limit of Rs.49400 in HDFC CREDIT CARD

I want to buy a android tab Which after discounts will be Rs.67,000 but after the NO COST EMI DISCOUNT THE EFFECTIVE ULTILIZATION WILL BE OF Rs.62,000 which is just 10,000 MORE THAN MY LIMIT

So I was thinking to use the over limit facility

So my question is will it damage my CIBIL CREDIT SCORE

 

[raj..]

Will use Over Limit Spend of Credit Card cause any damage to my Credit Score?

I have a HDFC BANK CREDIT CARD LIMIT OF RS.52,000 Since 2022 They have not increased i believe because I have 2 more HDFC CREDIT CARDS HDFC SWIGGY AND HDFC TATA NEU PLUS.

CURRENTLY I have a NO COST EMI on HDFC TATA NEU PLUS CARD Rs.2600 is outstanding I have an available limit of Rs.49400 in HDFC CREDIT CARD

I want to buy a android tab Which after discounts will be Rs.67,000 but after the NO COST EMI DISCOUNT THE EFFECTIVE ULTILIZATION WILL BE OF Rs.62,000 which is just 10,000 MORE THAN MY LIMIT

So I was thinking to use the over limit facility

So my question is will it damage my CIBIL CREDIT SCORE

Yes it will reflect on your credit report and score will be decreased also utilization will be 100% +.

You can add 20-30k on the card before buying the product, it will show less utilization. But this technique should be avoided, do it only if necessary, but it's better than 1st scenario.