How to Reduce Credit Card Utilization ??

[sudhirsiddhi]

Hey Guys

Please suggest me how to reduce credit Utilization with using total Credit Card limit.

Anyone have anyway then suggest me

 

[financewizard]

Hey Guys

Please suggest me how to reduce credit Utilization with using total Credit Card limit.

Anyone have anyway then suggest me

Reduce credit card utilisation with using total credit limit?? Credit card utilisation refers to how much of the amount you spend with respect to the available credit limit. If you feel that your credit utilisation is high then
1) Reduce / control your spending. May be you are buying too much on EMIs or just paying minimum dues. This is a distrauous financial habit.
2) Increase your overall credit limit - Ask bank to increase the credit limit. As the limit increases the utilisation ratio will go down.
3) Add more credit cards - CIBIL and other credit rating agencies see Credit Utilisation as sum of available credit across all cards. Add few more LTF credit cards to your list.

Credit utilisation of more than 30% can impact your credit score

 

[NShah]

Hey Guys

Please suggest me how to reduce credit Utilization with using total Credit Card limit.

Anyone have anyway then suggest me

Pay Outstanding Amount before bill generation date

 

[sarathtg]

Pay Outstanding Amount before bill generation date

This is a very easy and direct way to do it to keep the credit utilisation within the limits if paying is a feasibility. I used it effectively during initial days of my credit card and quickly my limits were increased by ICICI without any request. Also, you can use this method for a quarter or so and then try to request for credit limit increase to see if they can increase the credit limit.

 

[SSV]

Hey Guys

Please suggest me how to reduce credit Utilization with using total Credit Card limit.

Anyone have anyway then suggest me

1) Best way : Don’t use the card

2) Better way : Pay the CC immediately after transaction is settled.. this is what I do normally.

3) Normal way : Get LE…

Note: if you’re concerned about CIBIL score, individual utilisation % matters ..