A credit card can be a powerful financial tool, offering not just the convenience of cashless transactions, but also the flexibility to manage payments. One such feature is the EMI (Equated Monthly Instalments) option. This feature allows you to convert your high-value credit card purchases into manageable monthly instalments, making it easier to pay off your outstanding balance.

Credit Card 

When you make a substantial purchase on your credit card, you have the option to convert it into EMIs. The total cost of the purchase is divided by the chosen tenure (typically between 3 to 24 months), and this amount is added to your monthly credit card bill until the end of the tenure.

The credit card EMI interest rate is added to the purchase amount, increasing the total cost of the item. It’s crucial to be aware of this rate before opting for the EMI option.

Why Choose the EMI Option?

Affordability: The EMI option allows you to buy expensive items immediately and pay back the amount over a period of time.

Flexibility: You can choose a repayment tenure that suits your financial situation.

Ease of Tracking: Your EMI amount is reflected in your monthly credit card statement, making it easier to track your repayments.

The Axis Bank Credit Card EMI Calculator is a handy tool to estimate your monthly instalments. It is extremely easy to use the calculator, you just need to visit Airtel Finance and search for the EMI calculator. You can enter the purchase amount, tenure, and interest rate, and the calculator provides an estimate of your monthly EMIs.

Applying for a credit card has become more straightforward and user-friendly with digital platforms like the Airtel Thanks App. 

Here’s how you can apply:

• Download the Airtel Thanks App through PlayStore or App Store.
• Go to the ‘shop’ category, then choose ‘credit card’ under ‘Financial Services’.
• Fill the form and provide information for KYC.
• Get your credit card delivered within 24 hours of your approval.

The Airtel Axis Bank Credit Card offers a host of benefits including cashback offers, airport lounge access, fuel surcharge waiver, and discounts on food, grocery deliveries, and recharges from the Airtel Thanks App.

While converting your credit card bill payments into EMIs can make large purchases more manageable, it’s crucial to consider a few factors:

• Firstly, assess the interest rate for the EMI conversion as it adds to the total cost of the purchase. 
• Secondly, ensure you choose a repayment tenure that suits your financial situation to avoid straining your budget.
• Also, remember that once you convert a purchase into EMIs, it can’t be reversed. Lastly, check for any processing or pre-closure fees. Informed decision-making can help you utilise the EMI feature effectively while managing your finances wisely.

In conclusion, the credit card EMI option can be a beneficial feature, especially for high-value purchases. However, it’s important to understand the interest costs associated with it and to choose a repayment tenure that aligns with your financial situation. By using tools like the EMI calculator and responsibly managing your credit card, you can make the most out of your credit card usage.