How To Convert Your Credit Card Bills Into Affordable EMIs

  • Published on: 10 May 2024
How To Convert Your Credit Card Bills Into Affordable EMIs

Knowing how to convert credit card payments to EMIs is crucial to spread out the cost of your large purchases and make them more manageable. Opting for this can help ease the burden of repayment and keep you on track with your budget. To explore how to convert your credit card payments into EMIs, the benefits of opting for this facility and things to consider, read on.  

How Do EMIs on Credit Cards Work

To put it simply, an EMI on a credit card helps you convert the amount you owe into smaller and affordable monthly payments. Here is how this system works:

  • This facility is appropriate for paying a small portion of what you owe and having the remaining amount carried to the following month, along with interest
  • The interest charged on an EMI facility is generally lower than the regular credit card interest rates
  • Some issuers even offer a no-cost EMI option as well
  • Credit card companies usually allow you to use this conversion facility for your high-value transactions
  • Remember that a late payment fee will be applicable if you miss or default on a repayment

Also Read: Credit Card Late Payment Charges

How to Convert Credit Card Payments into EMIs

Credit card companies allow you to leverage different ways to opt for a monthly instalment facility. Here is how to pay EMI with a credit card:

Identify Transactions

  • Since not all transactions will be eligible for the EMI facility, verify the minimum amount that you can convert into monthly instalments
  • Transactions made at certain merchant outlets, such as your fuel expenses, may also not be eligible   

Select the Bill or Transaction for Conversion

  • Once you have checked the transaction’s eligibility, select the transaction you wish to convert into EMI
  • It’s crucial to review the fees associated with this facility to determine if it falls within your budget

Choose Repayment Tenure

  • The next step is to choose a repayment tenure that aligns with your budget
  • Most credit card companies allow you to opt for a repayment duration ranging between 3 and 24 months
  • Note that the longer the tenure, the lower will be the EMI amount payable
  • However, you will end up paying higher interest charges in longer tenure as compared to a short-term duration 

Confirm Conversion

  • Once you have chosen the right tenure, confirm the EMI conversion to complete the process 
  • The issuer will credit back the amount of the transaction after completion of your EMI conversion process 

Also Read:  What is a credit card statement?

Things to Consider When Converting Credit Card Bills into EMIs

Before you opt for an EMI facility on your credit card, here are a few factors that you need to take into account:

  • Interest Rate: The amount of EMI you will have to pay depends on the credit card interest rate, which varies from bank to bank
  • Reducing Balance Method: Note that banks charge interest using the reducing balance approach, where interest applies to the remaining balance every month
  • Processing Fee: Some credit card issuers even charge a processing fee when you convert your bill payments into EMIs
  • Repayment Tenure: As mentioned earlier, you can choose a repayment tenure as per your repayment capacity, ranging between 3 and 24 months
  • Credit Foreclosure: You can prepay or foreclose the existing loan on your credit card in case you have accumulated the remaining amount by paying a penalty

Benefits of Converting Credit Card Payments into EMIs

Here are some of the pros of paying your credit card bills into affordable monthly instalments:

  • Budget Management: Opting for this facility allows you to manage your budget more effectively and maintain the desired cash flow for your other expenses
  • Easy Repayment: You can opt for automatic deduction of EMIs, which ensures that you never miss a due date
  • Flexibility: Most credit card companies allow you to choose a repayment tenure that aligns with your budget and financial goals

Before you opt for the EMI conversion facility, it’s crucial to manage your finances responsibly and ensure that the monthly obligations fit your budget. However, if you’re unsure about your eligibility, you can always apply for Personal Loan of up to ₹5 lakhs. Download our Personal Loan App or log in to our website to get funds at competitive rates and with minimal paperwork. 

FAQs on How to Convert Credit Card Payment to EMI

Does converting credit card bills to EMI affect credit score?

No, converting credit card bills into EMIs doesn’t impact your credit score. However, your credit score will be hurt if you don’t pay your monthly obligations on time.

How can I convert credit card payments to EMI?

Wondering how to convert credit card payments to EMI? You can opt for an EMI option through the credit card company’s net banking portal or the mobile app.    

How do I know if my card is eligible for EMI?

You can check your credit card’s eligibility for converting bills into EMIs on the card issuer’s web portal or mobile application. You can also contact their customer support team to know about your card’s eligibility. If you are wondering, ‘How to pay EMI through a credit card,’ you can also talk to the customer care representative if you are unsure of the process.


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