Got new phone and this time with EMI

@akp100 (13328)
India
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.
10 people like this
10 responses
@JolietJake (51144)
• United States
5 Jan
Not sure what EMI is. For me, it was a record company.
From Wikipedia, the free encyclopedia Jump to: navigation, search This article is about the defunct British music company. For other uses, see EMI (disambiguation). EMI Group Limited Former type Private company (31 March 1931–28 September 2012) Subsidiary
6 people like this
@maezee (32281)
• United States
5 Jan
Thats totally where my mind went too.
4 people like this
@akp100 (13328)
• India
5 Jan
@JolietJake Me its different. That's why I mentioned it, I guess different for different country.
3 people like this
@vandana7 (65019)
• India
5 Jan
Equated Monthly Installment, like in home loans monthly outflow.
3 people like this
@maezee (32281)
• United States
5 Jan
What is emi? Hope you are enjoying your new phone.
3 people like this
@akp100 (13328)
• India
5 Jan
Equated monthly installments. I did take it first time through it so different experience. And yes I am enjoying it.
1 person likes this
@vandana7 (65019)
• India
5 Jan
He is lucky. His credit score improves when you pay for it.
2 people like this
@akp100 (13328)
• India
5 Jan
Is it? And what is the benefit? I don't know about this because never used credit card so far.
2 people like this
@vandana7 (65019)
• India
5 Jan
@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
2 people like this
@akp100 (13328)
• India
5 Jan
@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.
1 person likes this
@DianneN (78465)
• United States
5 Jan
Hope you have no problems making those monthly installments. Enjoy your new phone!
2 people like this
@akp100 (13328)
• India
6 Jan
I have to manage. I mean I am not good in saving. So I have to put that money apart from other spending.
1 person likes this
@Corbin5 (106523)
• United States
5 Jan
I do not know what EMI happens to be, but it sure seems to make you happy!!
2 people like this
@akp100 (13328)
• India
6 Jan
HA ha.. Yes it is kind of purchasing thing with installment. So I don't have to pay full amount. Yes as I got new phone, I am happy. Thanks.
1 person likes this
@cttolledo (4668)
• Philippines
10 Jan
what is EMI?
1 person likes this
@akp100 (13328)
• India
11 Jan
I guess many people have same questions. And I have already answer them in other response. Thanks.
1 person likes this
@cttolledo (4668)
• Philippines
11 Jan
@akp100 haha Okay, I'll check your answer.
1 person likes this
@akp100 (13328)
• India
12 Jan
@cttolledo It was about installment, so I have to pay fixed installments for my phone not the full payment.
@suni51 (2991)
• India
10 Jan
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
1 person likes this
@akp100 (13328)
• India
11 Jan
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?
1 person likes this
@suni51 (2991)
• India
12 Jan
@akp100 yes it's good with 6GB RAM. I exchanged one of my old phones MI NOTE LTE which was useless for me. You can check this deal at Flipkart.
@sol_cee (15530)
• Saint Vincent And The Grenadines
8 Jan
What's EMI?
1 person likes this
@akp100 (13328)
• India
8 Jan
Its Equated monthly installments. I have already mentioned about it in other response when other members also raise the same question. I have to paid monthly installment for the phone instead of full payment.
@jstory07 (67162)
• Roseburg, Oregon
8 Jan
I would rather use cash and save my credit cards for emergencies only.
1 person likes this
@akp100 (13328)
• India
8 Jan
I don't have credit card, and this is the first time I tried it out, just to know the process. Otherwise in past I have done in cash only.
1 person likes this
@jobelbojel (7173)
• Philippines
5 Jan
Glad that you were able to get a new phone. Your friend is kind to let you use his credit card.
1 person likes this
@akp100 (13328)
• India
6 Jan
Yes we both are good friends since child hood. So he let me use without any doubts.
1 person likes this