Credit Card EMIs: Convenience or a Costly Trap?

• Credit card EMIs convert spending into a loan, blocking a portion of your credit limit.
• EMI interest rates typically range from 13-24%, plus processing fees and GST.
• "No-cost" EMIs may involve hidden costs, like reduced discounts compared to full payments.
• Prepaying EMIs can be difficult and may incur foreclosure charges.
• Large EMIs can negatively impact your credit score by increasing credit utilization.

Why It Matters: Credit card EMIs can be a costly trap, impacting your finances and credit score.