IT is a boon and bane. A disicplied person can buy pay necessary thing through EMI, of course he may pay more but he would have owned the one he wanted in a years time. If one is in disciplined EMI option would make him buy things he may not really want. THE SUGGESTION COULD BE SEE WHAT YOU NEED THAN GO FOR EMI. DO NOT DECIDE DETERMINE EMI THEN GO FOR THE PRODUCT, YOU BUY something that you may not need. For example you may need 10000 phone but tempted to buy 30000 rs phone just becoz you could affrd the emi
I am sharing my experience good & bad:hope this will help you all. i am using 4 credit cards .1 for almost 5 years rest 3 last 1 year.i never face any issue except with 1st credit card that is also 2 months ago.i did a big purcahse on credit card almost 120000 lakh & i missed the date .they ask me 4000 rs as a fine but i fight with them & as a loyal customer i asked them some to revert the tax .they took back 2000 rs & rest i paid.5 years ago i purcahsed ps3 cost 23000 rs on credit card on 0 % emi & i clear it without missing any emi. now main thing you can uuse credit card but spend with in your limit or spend that much money which you can pay back.i use 4 but i use 1 card for 1 month or incase if i get good offer.i adjusted my billing cycle date for all the cards toghter .i mean for all the credit card same date.doing this easy to maintain but i suggest you don't keep more than 2 cards .if it is free or chargable because if you missed it then & you forgot how much you spent then it is big problem for you.credit card is good if you use it properly & with in your limit.last 4 months i spent 120000,30000,40000.before that 3000-7000 max. suggestion: gop for it but see the deal ,free or any hidden charges.what is the offer going on etc.read all the terms & conditions generally ppl don't do that. another reason to take credit card is that if you maintain your billing then you get loan on less interest than personal loan which is good in some scenar
Re: EMI for purchasing
by coolguyhero on Jul 25, 2014 10:00 PM
go for it but see the offer & deal.check throughly how much interest they charging or if not then what will be the monthly EMI.you calculate that & you will know much extra you are paying.
if used judiciously, EMI is a life-saver. i am a fan of this option for those purchases which is high enuf that i cant pay in a month and low enuf that i cant get a personal loan for. i have used this to pay medical bills, airlines tickets and festival shoppings. best part the interest rate is comparable to personal loan rates.
