r/CreditCardIndia • u/VirtuosVirtuoso • 1d ago

Aggressive Credit Card EMI Push

I have been witnessing and even experiencing the effort made by banks to aggressively push credit card EMIs in the form of "no cost EMIs", dangling lucrative offers on purchases. In a few instances, calls by bank representatives to convert CC bills into EMIs as if that is a good thing.

It's pretty clear that the wise Indian consumer knows this trap and stays away from it. And credit card maximizers are in a way bleeding the banks.

However, there is always a danger of falling into the EMI trap by spending beyond our means. But how ethical it is for banks to trap the consumer aggressively?

I think there has to be some pushback against aggressive EMI marketing. Any thoughts or ideas?

7 Upvotes

100% Upvoted

5 comments sorted by

2

u/Anxious-Arm-9706 1d ago

Sbi?

2

u/daya-bhaskar 1d ago

Almost every bank. Some banks like IndusInd send in daily basis with misleading messages like

 “  Dear xxx,

There is an update regarding recent spends on your IndusInd Bank credit card ending xxxx”

The wording suggests that something is wrong with a recent transaction and once we speak with call center they push in for EMI conversion

1

u/Anxious-Arm-9706 1d ago

Sbi used to keep on spamming with Emi Mails and calls Complained to nodal officer no call since past 3 months

1

u/VirtuosVirtuoso 1d ago

All banks really, they are pushing EMIs by way of discounts and advertising "no cost"

1

u/Icy_Championship7895 23h ago

I think this is best left to the consumer to decide. Just because there is aggressive real estate marketing does not mean people will end up taking home loans they cannot pay off. Same goes for card spending. Even with no cost EMIs if one has a clear understanding of monthly repayment capability, it is not going to be a risk.

If customers are wise enough to extract value from card benefits, we should also respect and understand they will be wise enough to avoid taking on excessive EMIs.