beb0p Posted November 18, 2012 Report Share Posted November 18, 2012 Last year, I automatically got an offer from the bank to upgrade my credit limit by about 200%. I have rarely made high value purchases on my card but what I always do is keep my card in the interest free zone by paying off my bills every month. So I don't think a high credit limit always reflects high credit hunger. It can also mean the bank is happy with your track record. I could be totally off here in my interpretation of these facts so feel free to correct me ! Link to comment Share on other sites More sharing options...
Bird Bird Bird Posted November 18, 2012 Report Share Posted November 18, 2012 ^^ I read the posts about high credit hunger wrt to high credit limit on sites like JagoInvestor and MoneyControl. Don't really know the truth as don't have a CC myself. No loans. I don't exist in CIBIL. Link to comment Share on other sites More sharing options...
godspeed4476 Posted November 18, 2012 Report Share Posted November 18, 2012 ^^ I read the posts about high credit hunger wrt to high credit limit on sites like JagoInvestor and MoneyControl. Don't really know the truth as don't have a CC myself. No loans. I don't exist in CIBIL. :P/> If you have usage of the credit limit, then only it impacts your score. I rarely even cross even the 10% of the limit. The credit rating system is not much evolved in india, but the banks have started checking the credit history. Abut a few months back, when my dad took a business loan, the executive who came to the office, looked up the file and made a mention about the unpaid CC bills (small amount, but it was a disputed amount). The loan was cleared even then, so I guess the banks are a bit lenient in india. Link to comment Share on other sites More sharing options...
godspeed4476 Posted November 18, 2012 Report Share Posted November 18, 2012 Do phone and Internet bills also count towards the CIBIL score? Nopes, only loans, others types of finance and credit cards. The best way for you to make your bills count is to pay your bills using the CC. Last year, I automatically got an offer from the bank to upgrade my credit limit by about 200%. I have rarely made high value purchases on my card but what I always do is keep my card in the interest free zone by paying off my bills every month. So I don't think a high credit limit always reflects high credit hunger. It can also mean the bank is happy with your track record. I could be totally off here in my interpretation of these facts so feel free to correct me ! Yep, even if you make small purchases but have a good payment history and long association with the bank, they will increase your limit. I have never made high value purchase, the highest amount that I have paid in any single bill is 55k, but Citibank increased my credit limit gradually over many years. Don't know with other banks, but if you hold a Citibank CC, then due to long association, they would even let go the annual fees on the card. So always try to build a long relationship with CC companies, except for AMEX, they suck. Link to comment Share on other sites More sharing options...
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