No Result
View All Result
  • World
  • Opinion
  • Economy
  • Business
  • Culture
  • Politics
  • Lifestyle

    Trending Tags

    • COVID-19
    • Donald Trump
    • Pandemic
    • Bill Gates
    • Corona Virus
  • Tech
Write for us
Contact Us
Cognovision
  • World
  • Opinion
  • Economy
  • Business
  • Culture
  • Politics
  • Lifestyle

    Trending Tags

    • COVID-19
    • Donald Trump
    • Pandemic
    • Bill Gates
    • Corona Virus
  • Tech
No Result
View All Result
Cognovision
No Result
View All Result
Home Finance

Easy Tips to Pay EMIs through Your Credit Card Feasibly

admin by admin
April 27, 2020
Reading Time: 3 mins read
0 0
A A
0

Do you want to Pay EMIs through Your Credit Card? This Guide is for you. Credit cards are handy financial tools that allow one to make big-ticket purchases on credit without facing any immediate financial strain. It is because one can choose to pay off their purchases through small installments over a period with these cards instead of paying in a lump sum.

RELATED POSTS

What is Solvency

How Are Commercial and Semi-Commercial Mortgages Different?

How to Host the Perfect Fundraising Event

Applicable EMIs on such purchases are deducted monthly from your credit card’s limit over the chosen period. In turn, you need to pay your credit card’s bill with such EMIs chargeable to your credit limit. Although it facilitates high-value purchases, you must consider a few things to ease your EMI payments via credit cards further.

Check out the following tips that help you determine how to pay EMI through a credit card with ease.

Tips to consider for easy EMI payment through credit cards

Choose a suitable tenor

You can choose an extended tenor of up to 12 months or more offered by select card issuers as per your convenience when you opt to pay EMI through credit cards. Note that if you opt for an extended tenor, the EMI amount will be smaller. Conversely, if you choose for a shorter tenor, the EMI amount will be on the higher end, but you will be able to pay off the entire purchase amount earlier.

Many credit card issuers today offer No Cost EMIs for specific purchases and transactions and do not charge any additional interest when you opt to pay off your purchases via EMI. The EMI amount is the same as the cost of the items you purchased divided by the number of months in your chosen tenor.

ADVERTISEMENT

For instance, if you have purchased an item worth Rs.60,000 and opt for a tenor of 12 months, you will be paying EMI at Rs.5,000. However, if you choose a tenor of 15 months, your EMI will be reduced to Rs.4,000. Besides, make sure to consider other pointers as well to convert credit card purchases into EMIs.

Look for applicable processing fees

When you choose to pay your EMIs via credit cards, opt for a lending institution that charges nominal processing fees. Hefty processing fees, in addition to the EMI amount, can be financially draining. 

For example, you can opt for credit cards like Bajaj Finserv RBL Bank SuperCard that allow you to purchase items from partner stores on EMI without paying any additional cost. Further, one can also avail cashback on purchases from partner stores.

Avoid making multiple purchases and EMI conversions

When considering how to pay EMI through credit card easily, you must also keep in mind not to make multiple purchases in a short duration and convert them into EMIs. Understand that purchases converted into EMIs block your available credit limit. So, if you make multiple high-value purchases and convert them into EMIs, you exhaust a substantial portion of the available credit. This will obviously render your credit card blocked for use other than equal to the total amount of funds you have to pay EMIs. 

With these tips on how to pay EMI through credit card, you can further strategize your financial plan over the payment tenor. It would help if you also made sure that you don’t miss out on a single payment as it might have a negative impact on your credit score. Nonetheless, you should also know how you can use a credit card to improve your credit score.

Apart from paying for your credit card purchases through EMIs, you can also consider opting for an emergency loan against the unutilized limit of the card for an interest-free period of 90 days. With specific financial institutions, such advances can be converted into EMIs for convenient repayment. To avail such benefits, you must select your payment card from a reputed card issuer. 

Tags: EMifinance
ShareTweetShare
admin

admin

Related Posts

What is Solvency
Finance

What is Solvency

May 3, 2022
Mortgage-Agreement-
Finance

How Are Commercial and Semi-Commercial Mortgages Different?

March 8, 2022
Finance

How to Host the Perfect Fundraising Event

August 3, 2021
Immediate Steps to Follow After a Car Accident
Finance

Immediate Steps to Follow After a Car Accident

May 5, 2021
top-9-reasons-to-apply-for-a-personal-loan
Finance

What Are Small Loans and How Can They Benefit You?

March 7, 2021
CARGO-SHIP-BLUE-56a9a77e5f9b58b7d0fdb427
Finance

Measures taken by the Indian Government to boost exports in India

September 10, 2020
Next Post
How to Live a Stress Free Life

How to Live a Stress Free Life | Life living Hack

Invest In Healthcare and Serve for your Country with Doctor Loan Facility

Recommended Stories

Is it safe to store food in plastic containers?

Is it safe to store food in plastic containers?

May 3, 2022
Ways to Grow Your Business in the Post-COVID

6 Ways to Grow Your Business in the Post-COVID-19 World

June 4, 2021
CARGO-SHIP-BLUE-56a9a77e5f9b58b7d0fdb427

Measures taken by the Indian Government to boost exports in India

September 10, 2020

Popular Stories

  • how-to-spy-facebook-messenger-without-target-phone

    How to spy Facebook messenger without target phone?

    351 shares
    Share 0 Tweet 0
  • How to Troubleshoot HP Envy 4500 | All in one Troubleshooting [Fixed]

    0 shares
    Share 0 Tweet 0
  • Cereal is The Most Effective Food For Boosting Your Immune System

    0 shares
    Share 0 Tweet 0
  • How to Recover Permanently Deleted Files in Windows 10

    1 shares
    Share 0 Tweet 0
  • 10 Best free photo editing software online | Online Photo Editing Tools

    0 shares
    Share 0 Tweet 0
Cognovision

Get your latest updates on technology, Bitcoin, finance, education, health, entertainment, etc. follow our news latter to get a weekly update.

Recent Posts

  • Statutory declarations
  • Is it safe to store food in plastic containers?
  • What are open rates?

Quick Links

  • About Us
  • Contact US
  • Privacy Policy
  • Terms of Service
  • Write For us – Author Guidelines

Write For Us

We always welcome Professionals To share there Drafts with updated market informations. Our aim to help and spread Words globaly.

support Connect
No Result
View All Result
  • Home
  • Subscription
  • Category
    • Business
    • Culture
    • Economy
    • Lifestyle
    • Health
    • Travel
    • Opinion
    • Politics
    • Tech
    • World
  • Landing Page
  • Buy JNews
  • Support Forum
  • Pre-sale Question
  • Contact Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Ads Blocker Image Powered by Code Help Pro
Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Refresh
Powered By
CHP Adblock Detector Plugin | Codehelppro