Hi all,
I have a ₹10,000 credit limit and buy a product for ₹3,990 on a 3-month EMI. How much will be blocked and what will my utilization be?
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@Sreenath Initially, ₹3,990 will be blocked. This will make your credit utilization 40% for this month, which shouldn’t significantly impact your score as it’s your first use.
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@neha001 If I pay the product’s full amount upfront and then repay 50% before the statement, will my utilization be 20%?
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@Sreenath Yes, your utilization will reflect the amount due on the statement date, so repaying 50% will reduce your utilization accordingly.