Credit card users are increasing as they are providing many offers to the customers. Most of credit card users will be in a position to buy some goods at that point of time even if they don’t have enough money. This is because using credit card we can lend money from bankers and we can pay those back later. We are having many options to pay credit card bills.
- First option is paying the due amount at a time within the prescribed time without paying any kind of interest.
- Second option is paying some amount from principal amount and carrying rest of money to future for which interest will be added.
- Third option is converting total amount as monthly installments and paying regularly. This is best option as there will not any kind of interest added and also no need to pay total amount at a time. Generally regular employees will choose this option to escape from interest and can pay monthly.
We can convert Credit card payment to EMI. Generally banks will provide two options. One is with zero interest and the other with low interest. This EMI will depend on time period. For Instance your due amount is Rs. 60,000 and you want to complete your due in 12 months then you monthly pay is Rs. 5,000. There is one more option provided in EMI. If you cannot be able to pay more than Rs. 2,000 per month you can also increase your due period as 30 months. Simple logic is even if you lend pay now or monthly, there will not any change in the amount you are paying if you are offered with zero EMI policy. Hence converting Credit card Payment to EMI is best option instead of paying at a time.