Why can’t I pay my car bill with a credit card?
In general, loans (including student loans and auto loans), mortgages and rent aren’t payable with a credit card. If credit card payments are allowed, the cardholder may be charged fees that could cancel out any potential benefits. Convenience fees may be one of these fees that credit card companies charge. Quick Answer. You usually can’t pay your auto loan with a credit card, but even if your lender allows it, you’ll probably pay fees that could outweigh any financial benefit from credit card rewards. It’s also important to consider the risks, such as damaging your credit or incurring credit card debt.
Can I pay through a credit card for a car purchase?
Whether you are buying a car online or offline, you can make transactions through credit cards effortlessly. Flexible EMI options are available with most credit cards. You can choose a flexible EMI value and repayment tenor. A popular benefit of credit cards is the EMI (Equated Monthly Installment) option. With this feature, customers can make transactions using their credit cards and spread the payments over several months in equal installments. This makes it easier to manage larger expenses without paying the full amount upfront.