Many credit card providers offer the ability to convert big-ticket purchases into small monthly payments called EMIs (Equated Monthly Instalments). You can directly convert purchases into EMIs at select merchants or use the option to consolidate multiple payments into a single EMI post-purchase. However, in most of the cases, this facility incurs certain charges. So, if you are planning to use the EMI facility, you should consider reading about the fees and charges along with the other associated terms and conditions.
|Pros and Cons of Credit Card EMI|
Consider Reading: How to get out of credit card debt