Hi all,
I made a purchase of ₹73,000 on a 24-month EMI using my credit card, which has a limit of ₹100,000. My monthly EMI payment will be approximately ₹3,600, which is less than 30% of my credit limit. However, the total amount blocked on my card is ₹73,000, which is around 73% of my credit limit. Will this affect my credit score?
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Based on what I know about credit scores, having a high credit utilization can indeed impact your score. While it may not necessarily decrease your score, it can prevent it from increasing. Keeping a credit utilization ratio below 30% is generally advisable for maintaining a healthy credit score.