Should you Pay Credit Card Bill via EMI?

Credit cards have emerged as the top preferred payment mode for most people, regardless of whether they are using it to make purchases online or offline. In recent times, it has also become possible to withdraw cash from your credit card which has made people rely on credit cards even more and even use them to make emergency payments, such as for meeting medical emergencies.

Credit Card Bill Payment
While using the credit card for making payments is easy, it is also essential to ensure you have no payments due on the card. At regular intervals, your credit card issuer will send a bill which will indicate the minimum amount you are required to pay in order to continue using the card and the due date by which you need to pay it.

It is essential to make this payment in a timely manner to ensure that you are not charged high interest rates on your credit card payments. The bill also mentions the grace period, which indicates the time period until when you will not be charged interest if you pay your credit card  bill.

How to Convert Credit Card Bill into EMI

In recent times, many credit card issuers have also begun offering customers a way to convert their credit card bill into EMIs. By opting for this functionality, you can essentially break up your bill into smaller amounts that you can then pay at leisure. You can decide the time period over which you will be able to repay the bill. Essentially, by opting for this, you are availing a credit card loan which you intend to repay over a fixed tenure and making a balance transfer from credit card.

However, it is important to note that converting your credit card bill into EMIs will automatically result in your credit limit reducing. Your credit limit on your credit card is the amount you are allowed to spend up to within one billing cycle. For instance, if your credit card limit so far has been Rs. 50,000 and you make a purchase or withdrawal of Rs. 40,000 and opt to repay it through EMIs, your credit limit will drop to the balance.

The more payments you make will increase your credit limit though. The EMI amount is usually calculated as a portion of the principal outstanding amount and an interest component.

Fees and Charges of Converting Credit Card Bill into EMI

While trying to figure out how to convert credit card bill into EMI, it is also important to take note of the charges associated with the same. Read on to learn about some of the common fees and charges levied by issuers while converting credit card bills into EMIs.

  1. Interest Rate:
    There is usually an interest rate on offer with converting your bill into EMIs and the longer the tenure of repayment, the higher is the interest.
  2. Processing Fee:
    This may differ from bank to bank, with many not even levying it on conversion of credit card bills to EMIs.
  3. Prepayment Charges:
    Prepayment charges are levied when banks charge you a fee for making your complete repayment before the EMI tenure has been completed.


Converting your credit card bills to EMIs is extremely beneficial but requires you to thoroughly research other fees and conditions. Credit cards, available on Finserv MARKETS, even allow you to convert the purchases you make into EMIs that can be repaid over a flexible tenure.

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