New Delhi, Nov. 18 -- People now extensively use credit cards for purchases on leading e-commerce platforms. The EMI method, also known as Equated Monthly Instalment, is gaining popularity for these transactions.

Before proceeding with any purchase, credit card users should understand what a credit card EMI is, including its advantages and disadvantages. This knowledge is critical for planning and managing repayments properly.

A credit card EMI permits the cardholder to convert their purchase into fixed monthly instalments. This way, instead of paying the full amount upfront, the issuer can plan and divide the entire purchase amount into equal payments.

This divided amount can be repaid in equal payments spread over a predetermined ten...