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Should I Buy a Mobile Phone in Full Payment or Through EMI Using my Credit Card?

Mobile phones and their innovative technologies have taken everyone by surprise. The amount of things mobile phones can do is tremendous, keeping in touch with the family who is distantly located across the world, learning new things via videos, capturing moments, and more. This small device has taken the job of many devices. Many people are finding this innovative gadget an asset. Indeed, technology has improved the lifestyle by adding value to our daily lives in multiple ways. 

Many mobile companies have manufactured various mobile devices, and each year they upgrade their services with new apps and features to the phone. For this very reason, many people get carried away by the latest launches and are attracted to buying them at the earliest. Due to the high demand and the latest features used in the phone, it gets financially challenging to purchase such devices. When things get difficult to buy, financial companies seek their help in providing funds to buy these commodities. Many banks and financial institutions provide instant money to buy mobile on EMI

Most mobile brands have exciting deals and offer to allow people to have easy access to their mobile phones. But the question every individual asks is should I buy the mobile phone in full payment or buy it in installments using the credit card? Here’s the answer to your question.

Should I buy the mobile phone in full payment?

Anything purchased with a total down payment amount is always considered safe and convenient. Some people find it challenging to pay total payments. Many people now have access to credit cards with a decent amount of credit. One can use the credit limit to purchase a mobile phone in such situations. 

One of the main reasons most vendors and customers opt for total payments using their credit cards is that there is zero interest rate when paid in full. It saves the customer the hassle of paying extra for the phone. Another reason most people buy mobile phones in full payment is to avail of cash backs and other deals either the mobile brand or credit card company offers. Besides, it is hard to track the EMI dates in this busy world. 

Should I buy the mobile phone through EMI using my credit card? 

Mobile brands and banks are always trying to provide excellent services to their customers. Hence they provide EMI services on credit cards. Using this service, one can buy mobile phones at a low-cost EMI. Buying a mobile phone through an EMI has its list of benefits. One can choose their repayment duration as per their financial planning or convenience. The repayment tenure can range anywhere from 6 months to 24months. 

However, it is essential to keep the payment date in mind. If, for any reason, the repayment of the EMI date is missed, then the bank will charge a penalty for a missed EMI. Hence buying phones through EMI is not for those who have a busy schedule or can miss their repayment dates. 

Conclusion

Now that we have discussed both the benefits of buying a mobile phone either through full payment or EMI using the credit card, it is the decision of the customer to choose what’s best for them. Irrespective of what options one chooses, it is always good to compare and discuss more potentials from the authorized people because you have to pay the debt at your convenience. Swipe machine price are the most convenient and affordable options to repay the EMI’s or price of the mobile phones using a credit card. These machines are readily available at any of the mobile stores or banks. 

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