
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.
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Consider Reading: How to get out of credit card debt
8 Comments. Leave new
I am in situation to buy a 2 wheeler. Loan amount will be 90000. Now I have 2 options to go ahead with, one is by getting a loan from 2 wheeler company loan providers and other option is to pay the full amount 90000 from credit card and convert the same into emi later. What would you suggest. I think cc emi ends up paying less then what loan providers are offering me. Please suggest a proper option.
hello sir what is the maximum EMI tenure in Citi bank rewards credit card?
The maximum EMI tenure that you can get on Citibank Rewards Credit Card is up to 48 months.
Sir,
I cannot pay cradit card bill .I want to pay bill through emi
If you are not able to pay your credit card bills in full, you can easily convert your dues into EMIs through net banking, mobile app or by calling customer care. The rate of interest, tenure, and other terms and conditions vary from bank to bank. You must check the same before opting.
Please note that all transactions may not be eligible for EMI Conversion. In such cases, you should convert big-ticket purchases into EMIs and try to pay off the smaller ones in full. This will reduce the overall burden.
Hi Ashwin. I am unable to pay my bills for the past 6 months. I have utilized my credit limit of 37,000 and have accrued interest of Rs. 60,000. Can you help me out with your suggestions, I really want to close the card. I cannot pay the full final settlement, which will affect my CIBIL score. So can you help me, is there any waiver of interest to pay my credit limit.
Hi Pragada,
Unfortunately, it is nearly impossible to close your credit card without settling your dues in full. Also, it is highly unlikely for the issuers to provide interest waiver facility. You should keep making as much payment as possible towards your card dues. Even if it is not a full settlement, it will bring down your total outstanding amount and thus the interest payout will reduce.
However, if you are facing difficulty in payment, you can apply for a personal loan and use the amount to clear your credit card dues.
This is actually useful, thanks.