Credit Card EMIs: The Fine Print Behind "Easy Payments"

• Credit card EMIs are a popular way to fund big purchases but are essentially loans with interest, charges, and fine print.
• Converting a transaction to EMI blocks the purchase amount from your credit limit, which is released gradually with repayments.
• EMI interest rates typically range from 13-24% (lower than revolving credit), often with additional processing fees.
• "No-cost EMI" may not be truly free, as retailers might absorb the cost or you might lose out on upfront discounts. Always compare total costs.
• EMIs can limit prepayment flexibility and keep credit utilization high, potentially impacting your credit score. Use them thoughtfully for essential spends.

Why It Matters: Understand credit card EMIs' hidden costs to avoid financial pitfalls.