Is it difficult to pay the credit card bill? Know how to convert Deutz into EMI
New Delhi. The use of credit cards is increasing in the country. If you use it wisely then it is beneficial. However, if you use it irresponsibly, you can get trapped in the debt trap. Many times due to financial crunch, there is no money left in the bank account to pay the credit card bill. Due to not paying the bill on time, high interest and late payment penalty has to be paid.
Experts recommend paying off all your credit card dues in one go before the due date as the interest rates for most credit cards can reach up to 36 per cent per annum. On the other hand, if you are unable to pay off your credit card balance in full at one go, you have the option of paying off large purchases in EMIs.
Request to convert dues into EMI by contacting the credit card company
Credit card companies often allow cardholders to convert their outstanding amount into EMIs. You can request to convert your dues into EMI by contacting the credit card company. You can also do this through the netbanking portal of your bank. Apart from this, many banks or card companies offer EMI facility with a particular brand.
Credit limit gets blocked
When you opt for the EMI option, the credit limit on your card is blocked up to the outstanding due amount and gradually unblocked as per your EMI payments.
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Tags: credit card, Credit card limit
FIRST PUBLISHED : March 25, 2023, 16:11 IST