Got new phone and this time with EMI
January 5, 2018 5:21am CST
Hello Friends Okay, I changed it again. Just received the new phone and it is really good for now. This is the first time I have taken something with EMI. Thanks to one of my friend's credit card (I don't used to have one). I am not good in scheduling money. So hope I will able to save those EMIs each month. Or I he will not let me use it again. This is my first experience with it, so I wonder what is more preferable emi or cash. As its not my credit card I am enjoying it already.
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• United States
Not sure what EMI is. For me, it was a record company.
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@akp100 ..Sigh ...if I give the lecture in college, I will get paid for the day. lol. Anyway...it is like this. Your credit score is based on how prompt you are in paying your debts. It may be small debt or big debt. If you have bought something from a big mall, like Reliance or shoppers stop, and are paying by EMI, there is a record of it. Promptness of payment improves credit score, and that helps in getting home loans, vehicle loans, etc. If your credit score is bad, then chances of bank refusing to give you loan increase. That will force you to borrow from lenders who charge higher interest rates on those home loans. You have indirectly given him a gift because EMI for cell phone will be low, and anyway you are paying it. So his score is going to be good. If you do not ever borrow monies, your credit score will be bad. LOL. That is the irony of it all. lol
@vandana7 That's surely nice explanation. Otherwise I don't understand the things that easily. Its like mini article reading. Well, no problem, as I don't have any credit card for now, I don't think there was any other option. I will take care of payment so I don't make his score bad at least.
Incidentally, I have bought a new phone recently from Flipkart. It's an Oppo F5 64Gb, ^GB RAM. By the way, I haven't bought it on EMI but on exchange offer against one of my older phone (I got INR 4500 for that). I know you're good at money management and even without EMI you could have managed that
Lol, I am surely not that rich as you are imagine. Also I have left my job and went to agriculture field for farming. I guess I can make better in this section. So now farming and online job. That's it. Oppo F5 is surely a good phone. I got vivo v7 plus. Though I am not that satisfied. Which phone you exchanged that you got 4500INR for it?