EMI Card or Credit Card – Guide to choosing your preferred payment option

emi card or credit card

A credit card has long been touted as the ultimate tool for financing all your extravagant needs that do not form a part of your essential requirements. From a trip to an exotic location with your family to a new smartphone for your father or even a brand-new modern refrigerator for the household, all these expenses can be met through your credit card.

A credit card, however, has several disadvantages attached to it. For instance, the credit due on the card has to be repaid instantaneously or the card owner risks having their overall credit score lowered. In the long run, this destroys their ability to avail more credit or even capital in the form of loans.

In recent times, the EMI Card has emerged as an attractive alternative to the credit card. With this card, the amount taken as credit can be repaid over a longer duration of time in the form of Equated Monthly Installments (EMIs) which is not an option with a credit card.

People have begun demonstrating a preference for paying via EMI for most of their purchases now, including cars, homes and even appliances for use around the home. When shopping with the EMI Card, you can simply choose to pay via EMI and thereby ensure that you do not spend too much right away. Besides, with EMI card such as the Bajaj Finserv EMI Card, you can shop for more than 1 million products at more than 80,000+ stores across India. This online EMI Card not only lets you buy products from a range of online portals, but also in several offline stores.

Despite their differences, and similarities, there are many pros and cons to both credit cards and EMI cards which users must first understand and then choose their preference based on their requirements. Read on to compare the pros and cons of both.

EMI card or Credit Card – Interest Influencing Product Prices:

The largest drawback to a credit card is the high amount of interest charged on the repayments on the initial payment made via the card. This interest usually ends up adding significantly to the original cost of the product bought through the card itself. This is one area where an EMI card is superior, since you can pay on EMI without a credit card.

The EMI Card enables you to buy products at no cost EMI and even premium products can be purchased with zero downpayment. Thus, when you purchase products through an EMI Card, you actually end up paying for simply the price of the product rather than an inflated price which includes a lump sum rate of interest.

Pre-Approved Loan Amounts:

The best part about an online EMI Card is that it comes equipped with a loan amount that is already approved. With EMI Card, you can actually get up to Rs. 1.5 lakh in loan at the time of availing the card itself. This allows you to immediately begin using the card to purchase whatever is required.


A credit card can usually be availed from the bank, and involves a long-drawn process with paperwork wherein you are required to submit multiple documents and proof of identity before you can be issued a card. On the other hand, the EMI card simplifies this process significantly owing to the ability of applicants to avail a card digitally, wherein they can upload their documents, pay a nominal fee and avail the card immediately. Even after the card is in use, there is no use of documentation for availing details with all the information available on the digital portal.

Buying products on EMI without a credit card has become a reality with online EMI cards which enables you to instantaneously purchase products and pay for them over a flexible repayment tenure. EMI cards like Bajaj Finserv EMI Card comes with a pre-approved loan limit of Rs. 1.5 lakh and even enables you to purchase premium products at zero downpayment and no cost EMIs. These are benefits that can never be associated with a credit card, wherein the price of a product is significantly inflated owing to the interest rate.

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