Yes Bank CC Query
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I have a Yes Bank CC in my father's name. The card limit is 1.2l. I need to do 3 transactions(same day) worth 1 lakh each, so a total of 3 lakhs.
I don't have the over-limit facility turned on the credit card. so here is my plan:
- I'll first do the first transaction worth 1lakh. after the transaction, I'll pay the bill of 1lakh to the credit card.
- Within 5 min of paying the bill through MobiKwik(It will be credited instantly as I have tested it earlier for Yes bank CC), I'll again initiate the second transaction.
- I'll repeat the same thing for the 3rd transaction. Again after doing the 3rd transaction, I'll pay 1 lakh as a bill to my CC immediately.
Now my question is:
As the credit card has a lower credit limit than the amount of transactions, will Yes Bank charge me anything for the transactions I do?
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https://www.desidime.com/comments/permalink/10039239
Nothing extra at all. But be informed that they will report 100% utilisation to the credit bureaus.
https://www.desidime.com/comments/permalink/10039294
Even if I pay the bill just after using it?
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https://www.desidime.com/comments/permalink/10040141
they may block card temp as its 3 times limit, so have alternate plan also
https://www.desidime.com/comments/permalink/10042504
I have done this. Nothing will happen. Go ahead
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No. Go ahead with plan.