Impact on credit score

[प्रफूला_56]

I have purchased a phone worth ₹7000 on EMI of ₹335 per month. ₹7000 has been blocked in my credit card , So what amount will been shown in Cibil, whether 335 or 7000 .

 

[luciferocious]

I have purchased a phone worth ₹7000 on EMI of ₹335 per month. ₹7000 has been blocked in my credit card , So what amount will been shown in Cibil, whether 335 or 7000 .

it will be converted to emi later and the billed amout will reflect on cibil which should be 335 + intrest

 

[प्रफूला_56]

it will be converted to emi later and the billed amout will reflect on cibil which should be 335 + intrest

Thank you

 

[shashwat]

This is incorrect.

it will be converted to emi later and the billed amout will reflect on cibil which should be 335 + intrest

If your purchase amount is 7000, then 7000 will be shown on your CIBIL.
Every time you make a payment of 335, it will show as a payment against the 7000 consumer loan. The loan will be of the cost of the product, or 7000.

 

[luciferocious]

This is incorrect.


If your purchase amount is 7000, then 7000 will be shown on your CIBIL.
Every time you make a payment of 335, it will show as a payment against the 7000 consumer loan. The loan will be of the cost of the product, or 7000.

i don think he is talking about cibil bro

 

[shashwat]

i don think he is talking about cibil bro

His question has:

So what amount will been shown in Cibil

 

[प्रफूला_56]

This is incorrect.


If your purchase amount is 7000, then 7000 will be shown on your CIBIL.
Every time you make a payment of 335, it will show as a payment against the 7000 consumer loan. The loan will be of the cost of the product, or 7000.

New account of consumer loan will be created?

 

[shashwat]

New account of consumer loan will be created?

Yes.

But it's fine. New accounts are good, as long as you pay on time.

 

[imboy]

I have purchased a phone worth ₹7000 on EMI of ₹335 per month. ₹7000 has been blocked in my credit card , So what amount will been shown in Cibil, whether 335 or 7000 .

It will show loan a/c of 7000

 

[isandeep]

It will reflect as consumer loan in cibil with 7000 amount