Few queries about Hdfc cc EMI.

[Sanjay]

Can anyone tell me? I have one cc of 75k limit. Recently I bought something on EMI 30k for 6 months 5k each. So my 30% CUR is 22,500. So can anyone tell me how I calculate my 30% now? As 30k is already locked. Do I have to count 30% above 30k now?

 

[Sanjay]

HDFC doesn't report credit utilisation anyway. And I think has given you the calculation some days ago.

TL; DR: 30K is not blocked, probably 30% limit- used limit = ~ 17K.

ya ya, you told. But when I paid the bill yesterday I can see the amount is blocked. From 30k EMI I paid 5k in the recent bill. Now, 25k is blocked. As I will pay it will go lower. That's why I am asking about the 30%.

 

[Sanjay]

Don’t know where it is written. But I can see in my app. I have paid my bill fully but the unbilled amount is still 25k.

Also, few months back I asked sumanta sir he replied this

 

[vysakh]

Can anyone tell me? I have one cc of 75k limit. Recently I bought something on EMI 30k for 6 months 5k each. So my 30% CUR is 22,500. So can anyone tell me how I calculate my 30% now? As 30k is already locked. Do I have to count 30% above 30k now?

No. 30% will be 22500 itself. Of which 5k will go as EMI. So, you'll have 17500 remaining for other expenses before you reach the 30% CUR.

 

[Sanjay]

No. 30% will be 22500 itself. Of which 5k will go as EMI. So, you'll have 17500 remaining for other expenses before you reach the 30% CUR.

my unbilled amount will be 47,500. But the bill will come around 22500 or less. Right?

 

[vysakh]

When the billing happens, there'll be two additional transactions. one will do a credit of 30k and one will do a debit of the first EMI (5k). So the bill would be 47.5k - 30k + 5k = 22.5k.

 

[Sanjay]

When the billing happens, there'll be two additional transactions. one will do a credit of 30k and one will do a debit of the first EMI (5k). So the bill would be 47.5k - 30k + 5k = 22.5k.

okay. Thanks for properly explaining. It will help many people. 😇

 

[Sanjay]

When the billing happens, there'll be two additional transactions. one will do a credit of 30k and one will do a debit of the first EMI (5k). So the bill would be 47.5k - 30k + 5k = 22.5k.

this will happen every time till all the EMI are paid? Just the amount will be changed every time. Like 25k then 20k?

 

[vysakh]

this will happen every time till all the EMI are paid? Just the amount will be changed every time. Like 25k then 20k?

No.

In your current billing cycle,

• regular transactions -> 17.5k
• purchase something -> 30k
  EMI conversion -> -30k
• EMI 1 -> 5k.
• Total = 22.5k
• Available credit limit = 75k - 30k - 17.5k

In your next 5 billing cycle,

• regular transactions -> x
• EMI n -> 5k
• Available credit limit = 75k - (30 - 5k*(n-1)) - x

In the biling cycle after that

• regular transactions -> x
• Total = x
• Available credit limit = 75k - x

Your available credit limit is the only thing that changes. For this cycle, it'll be 75k-30k. Since you'll pay the first EMI this cycle, for the next cycle, the limit will be 75k-25k. The next cycle it'll be 75k-20k and so on, till all EMIs are paid.

 

[Sanjay]

No.

In your current billing cycle,

• regular transactions -> 17.5k
• purchase something -> 30k
  EMI conversion -> -30k
• EMI 1 -> 5k.
• Total = 22.5k
• Available credit limit = 75k - 30k - 17.5k

In your next 5 billing cycle,

• regular transactions -> x
• EMI n -> 5k
• Available credit limit = 75k - (30 - 5k*(n-1)) - x

In the biling cycle after that

• regular transactions -> x
• Total = x
• Available credit limit = 75k - x

Your available credit limit is the only thing that changes. For this cycle, it'll be 75k-30k. Since you'll pay the first EMI this cycle, for the next cycle, the limit will be 75k-25k. The next cycle it'll be 75k-20k and so on, till all EMIs are paid.

kk. thanks 🙏🏻