Converting huge credit card bill into EMIs? 5 things to know

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Sep 30, 2023, 01:29:57 PM IST

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Credit card payments via EMIs If one cannot pay the outstanding amount due on the credit card by the due date, it can be converted into payment in EMIs.

Text: Centre for Investment Education and Learning (CIEL).

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Do note this There is an option to convert either the entire bill amount or a specific transaction to EMI.

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Keep this in mind The credit limit on the card is reduced by the amount converted to EMI.

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Processing fee Along with the interest, the customer is charged a processing fee for converting the amount to EMI.

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Prepayment charges In case one wants to prepay the amount, a charge can be levied.

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)

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Converting huge credit card bill into EMIs? 5 things to know

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