Apple iPhone 18 Pro Buyers Beware: Credit Card Debt Can Be Costly

The Apple iPhone 18 Pro has a price tag of Rs 1,64,900 in India, categorizing it as a high-value discretionary item. To make this purchase more appealing, Apple is offering No Cost EMI and instant cashback options to eligible buyers.

A buyer who can afford to pay the full bill in one go may be able to use a credit card to earn rewards or cashback on their transaction. However, when the reward becomes an excuse to carry debt, problems arise.

If a buyer puts the iPhone 18 Pro on a regular credit card but cannot pay the full amount, interest charges can add up quickly. For example, at an illustrative rate of 3.5 percent per month, finance charges on Rs 1.65 lakh would be about Rs 5,775 for just one month.

A No Cost EMI should not be treated as the same thing as carrying a normal credit-card balance. This option actually involves paying interest-free EMIs, but it still requires a budget check and can consume part of the card's available credit limit.