Is low available credit on a jewelry purchase bad for my credit?

I recently bought an engagement ring and financed through the jewelry store. Their financing is done by GE, and they gave me a $9500 credit line for an $8600 purcahse. This leaves me only $900 in available credit and a high credit utility for that line. Is this going to damage my credit? What should I do?|||Because your debt to income ratio (aka utility rate) is pretty high your score will take a dip. More importantly is how well you repay the debt. If you the minimum required payments on time your score will eventually repair.