There are many reasons to love the festival season when Diwali rolls around. Apart from the fun and family bonding it brings along, Diwali each year is also accompanied by unmissable sales and offers from the top brands in India. If you’ve been eyeing a particularly premium smartphone for a while now, it’s likely you’ve been putting off that big purchase for the upcoming festive season.
But there’s some great news for you. You don’t really have to wait for several weeks to bring home your preferred smartphone anymore. All you need to do is apply for a credit card online today. Once your application is approved and your card is dispatched, you can purchase that mobile phone on easy EMIs without taking on the stress of a large payment upfront.
The Benefits of Buying a Smartphone on EMI with a Credit Card
If you’ve still on the fence about applying for a credit card online, it can help if you get an overview of why this move can be advantageous to you. Check out the many ways in which buying a phone on EMI with a credit card can benefit you.
1. Big-Ticket Purchases are Easier
Converting your purchase cost into EMIs with a credit card makes it easier to buy big-ticket items like a smartphone. You don’t need to save up a lump sum amount or pay a huge price upfront. Instead, you just need to pay smaller sums regularly each month. This minimises your financial burden significantly.
2. You can Manage Your Finances Better
When you buy a smartphone on EMI using your credit card, you get to spread your debt across a convenient repayment tenure. This makes it easier to manage your finances, since you only need to allocate a small sum from your monthly budget for your big purchase. So, if you have a strict budget, a credit card helps you buy your phone on EMIs without compromising on your financial plan.
3. You can Customise Your Repayment Plan
Today, credit cards issued by leading banks and financial institutions offer cardholders the option to customise the repayment plan. If you decide to buy your smartphone on EMIs with a credit card, you can choose a repayment tenure that is convenient for you. You can even use your credit card to make your purchase with no-cost EMIs, where no extra interest is charged.
4. Your Credit Score Improves
There’s another important benefit of making your purchase with a credit card now rather than putting it off for later. When you repay your credit card dues promptly over the repayment tenure, you build a good credit history. And your credit score improves over time. This makes it easier for you to access more lines of credit in the future, if you need to.
5. You Get to Earn Attractive Rewards
One of the many unique advantages of using a credit card to buy your smartphone on EMIs is that you get to earn attractive offers and rewards in the process. Each time you use your credit card on certain eligible spends, you get reward points, miles or cashbacks, based on the terms and conditions of your card. This way, you can earn even as you spend.
How to Apply for a Credit Card Online
Today, it is possible for eligible individuals to apply for credit cards online. You can get credit cards from the top banks in the country, like RBL credit cards, ICICI credit cards, HDFC cards and SBI cards from the comfort of your home itself. All you need to do is follow the steps outlined below.
Step 1: Visit the website of the bank or the financial institution whose credit card you want to apply for.
Step 2: Head to the ‘Credit Cards’ section.
Step 3: Choose the credit card that you wish to apply for online.
Step 4: Fill in the details required to check your eligibility for the card.
Step 5: If you are eligible for the card, proceed to fill in your information and submit any documents that are required.
Step 6: Submit your application along with the required paperwork.
Step 7: The bank or financial institution will assess your application and issue the card if it is approved.
This is how simple it is to apply for a credit card online today. So, now that you know what to do, you need not put off your big purchase till the Diwali season. Apply for your credit card today and bring home the smartphone of your choice without any delay.
Conclusion
In case you do use a credit card to buy your preferred phone on EMI, make sure that you pay your card bills on time, as and when they are due. This way, you can build a good credit history and avoid the pitfall of high interest costs on delayed repayments. Also, you get to enjoy the full benefit of buying a big-ticket item on EMIs and reducing your financial burden.
