If you have recently made any big-ticket purchase through your credit card, you must have received an email or SMS from your credit card provider to convert your big-ticket purchase into EMIs. Many of us prefer to do the same, as it lessens the burden of paying money in one turn, we can repay the money in multiple installments as per our repayment capacity.
Nowadays, many credit card providers offer the facility to convert big-ticket purchases into small monthly payments, called EMIs (Equated Monthly Installments). 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. Therefore, it is important to consider fees, charges, and other terms & conditions associated with it. Here, we have mentioned some of the important things which you should keep in mind before opting for this option.
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