Simplifying ICICI Credit Card Payments: A Comprehensive Guide to EMI and CRED App
In today’s financial landscape, managing credit card payments efficiently is essential. This article provides a detailed walkthrough on converting ICICI credit card payments to EMI and introduces a user-friendly app, CRED, to streamline the process further.
Steps to Convert ICICI Credit Card Payments to EMI:
1. Understand Your Billing Cycle:
Familiarize yourself with your ICICI credit card’s monthly billing date, which remains constant but may vary among users. This knowledge is crucial for financial planning.
2. What is EMI and How to Set It Up:
EMI, or Equated Monthly Instalment, allows borrowers to pay lenders a fixed amount electronically each month. To set up EMI for your ICICI credit card:
- Utilize the “EMI on Call” feature for flexible tenures (3, 6, 9, 12, 18, and 24 months).
- Transactions eligible for EMI must be a minimum of ₹3,000.00.
- Transactions older than 30 days cannot be converted.
- A 1.33% monthly interest rate and a one-time processing fee of 2% apply.
3. Availing “EMI on Call”:
ICICI provides three methods to avail of this facility:
- Through internet banking: Register, log in, navigate to “My Accounts,” select “Credit Cards,” and click on “Convert to EMI.”
- Via ICICI Bank iMobile app: Download the app, go to “Cards,” select the card, choose an eligible transaction, and opt for EMI conversion.
- Contacting customer care: Give a missed call from your registered number; a representative will assist within two working days.
Introducing CRED App:
1. Tracking Payments:
CRED helps monitor credit card payments, providing real-time updates on outstanding balances, interest amounts, and due dates.
2. Regular Alerts:
Receive timely alerts based on your credit rating, ensuring you’re informed about payment amounts and due dates.
3. Convenient Payment Options:
CRED offers various payment methods tailored to your financial situation, enhancing flexibility and ease of payment.
4. Reward Points and Benefits:
Every payment earns you reward points, denoted as “coins” and “gems,” which can be redeemed for cashback, discounts on flights, food, and products from e-commerce platforms.
If you are unable to resolve kindly visit ICICI bank.
Also read: Converting SBI Credit Card Payments to EMI
Conclusion:
Converting ICICI credit card payments to EMI provides financial flexibility, and apps like CRED enhance the experience further. By embracing these tools, managing credit card payments becomes hassle-free, rewarding, and efficient.
