Nowadays everyone takes the help of credit cards to fulfill their needs. Through credit card, you can fulfill your need on time and can comfortably pay it later to the bank.
New Delhi: Nowadays everyone takes the help of credit cards to fulfill their needs. Through credit card, you can fulfill your need on time and can comfortably pay it later to the bank. Let us tell you that the payment of credit card bill can also be done in monthly installments (EMI). If you choose the option of EMI, then before that you have to keep some things in mind. Let me tell you-
Let us tell you that you can get your credit card dues converted into a loan. In this situation, you get more time to clear the dues. It also has less impact on your credit score. This is the best option for the customers who are unable to pay their credit cards on time.
If you pay the credit card within the stipulated time limit, then you do not have to pay any extra interest. However, if you convert the bill amount into EMI, you will have to pay interest to the bank.
These charges have to be paid by the customer
If you pay your credit card through EMI, then you also have to pay various charges for paying the credit card bill. Apart from interest, processing fees, prepayment charges and GST are also levied in this, which has to be paid by the customer.
EMI is a good option
EMI is a good option to buy any item or pay the bill as you do not have to pay a huge amount in a jiffy. Yes, but if you select EMI for a longer period, then you have to pay more interest to the bank. On the other hand, if you pay the credit card bill through EMI, then you have to pay heavy interest.
Get converted in emergency only
The credit card holder should keep in mind that this time, convert the credit card bill into EMI only when you have a very emergency or you are not able to pay the bill in any way. By the way, all cardholders should pay the credit card bill before the due date.
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