Does buying things on credit card EMI affect your credit score?

[zaidmalik94772]

I made a purchase of 73k as a 24 months EMI using my credit card which has an 100k Limit. Now the EMI's per month will be approx 3.6k which is less than 30% of my credit limit but the total credit blocked from card is 73k which is roughly 73% od my credit limit. Will it impact my credit score?

 

[arjungoyal12]

From the things I know about credit score, it will surely affect your credit score. it might not decrease it but it won't allow to increase it as well

 

[zacobite]

I made a purchase of 73k as a 24 months EMI using my credit card which has an 100k Limit. Now the EMI's per month will be approx 3.6k which is less than 30% of my credit limit but the total credit blocked from card is 73k which is roughly 73% od my credit limit. Will it impact my credit score?

yes ofcourse it will..

 

[RitamModak]

Yes, the purchase of 73k on EMI can potentially impact your credit score.

While your monthly EMI payments are less than 30% of your credit limit, the overall credit utilization ratio is a significant factor. Here's why:

High Credit Utilization Ratio: Although your monthly payments are manageable, the total blocked credit of 73k, which is approximately 73% of your credit limit, can be seen as a high credit utilization ratio. Lenders generally prefer a lower utilization ratio (often below 30%) to indicate responsible credit managemen