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How to Convert Credit Card Purchases into Easy EMIs

By Finserv MARKETS - Dec 4,2019
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How to Convert Credit Card Purchases Into Easy EMIs

Credit cards are essentially instruments of payment that let you transact on the principle of ‘buy now, pay later’ up to a pre-defined and pre-approved credit limit. As long as you are transacting within the limit, you are free to do as many payments as you want.

But the benefits of a credit card do not end there. Credit cards come loaded with a plethora of different perks, benefits, cashback offers, reward points and their redemption schemes, among other features.

For example, the Bajaj Finserv RBL Bank SuperCard available on Finserv MARKETS does more than just letting you redeem your cashback offers and reward points. It also allows you to convert your credit card limit into an interest-free loan for up to 90 days. This amount can be considered just like any other short-term loan, which has to be repaid in 3 EMIs. The SuperCard also allows you avail interest-free cash advance via ATM withdrawals for a period of 50 days.

It is often said of credit cards that they exist to let you secure ownership and defer the payment. In keeping with the spirit of revolving credit and making your life easier, credit cards offer conversion to EMIs. Credit cards exist to make your life easier. If you find yourself in a financial pickle or a particularly troublesome month, you should not feel doubly troubled by the credit card bill.

Let us understand how you can avail the benefit of borrowing on EMIs using your credit card.

Here’s the deal:

the Bajaj Finserv RBL Bank SuperCard allows you to conveniently convert your credit card purchase into Equated Monthly Instalments (EMIs) so that your budget or credit limit does not get strained or pressed. Whatever outstanding amount is shown on the bill or your credit card statement, you can choose to split it into easy EMIs. This way you won’t have to bear the burden of the entire cost in a single month. You can spread the pressure of the payment over a period of up to 3 months. This provides you with the flexibility to make massive payments for purchases and pay the total amount due in easy instalments later.

EMI in the case of credit cards works the same way as it does in the case of loans.

The process of converting credit card payments into EMIs

At Finserv MARKETS, you can convert your credit card payments into easy EMIs by two methods, choose your pick:

  • You can call on the toll-free number. This is the customer care number provided for credit cardholders. It can be found on the credit card, on the credit card statement, on their application, on the website, on the online account. There you can file a request for the conversion of the amount due on your credit card into EMIs.
  • The other way you can file for this conversion is online. Just like you can apply for a credit card online, you can also submit your request for credit card amount conversion to EMIs online for fast processing. The process is expedited online and once the request is sanctioned, you will be able to see that the credit card statement online will reflect the distribution of the due amount over 3 months.

There is no catch here, except that in order to convert your credit card dues into easy EMIs, make sure that you have at least transacted for an amount greater than Rs 3000 on the card.

Why convert credit card purchases in EMIs?

Why would someone convert their credit card purchases or dues into EMIs? There could be an emergency, a cash crunch or a particularly unpredictable month (in the case of self-employed people who might be chasing clients for payments, for instance). That the conversion of credit card purchases into EMIs is possible reflects the flexibility in the repayment tenor. This is the biggest advantage of this feature. You are allowed to pay the amount due in instalments as it is convenient for you. This way, you will not feel stressed or anxious because of burgeoning credit card interest that would otherwise keep compounding on the unpaid amount.

You can also convert your purchases into EMIs directly at the time of transactions as well. If you are doing online shopping across Flipkart, Amazon, Finserv MARKETS, MakeMyTrip, etc. you can easily choose the EMI option with your credit card.

Get a Bajaj Finserv RBL Bank Credit Card and avail the benefits of easy EMIs.

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we works towards fulfilling all your personal and financial needs . What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522