Bengaluru : A Bengaluru man’s decision to refuse a neighbour’s request to use his credit card to purchase an iPhone on EMI has sparked discussion online about financial responsibility and the risks of informal credit arrangements.
Neighbour seeks help for iPhone purchase
According to a Reddit post, the man was approached by his neighbour, who knew that his credit card offered a discount on an iPhone.
The neighbour reportedly asked if his cousin could use the card to purchase the phone and repay the amount through a 12-month EMI plan.
Although the neighbour assured him that the cousin would make all the monthly payments and said he would be present during the transaction, the man declined the request.
Credit card owner remains responsible
The situation highlighted a key financial concern. While the cousin would receive the phone and make the EMI payments, the credit card account and resulting liability would remain with the cardholder.
Any missed or delayed payments could therefore leave the cardholder responsible for the outstanding dues.
CA highlights EMI spending concern
Bengaluru-based chartered accountant Meenal Goel later commented on the incident, highlighting what she described as a broader EMI mindset among consumers.
She pointed to the difference between asking whether one can afford a monthly payment of Rs. 10,000 and asking whether spending Rs. 1.2 lakh on the purchase is financially advisable.
The discussion has renewed attention on how EMIs can make expensive purchases appear more affordable by breaking the cost into smaller monthly payments.
A reminder about financial responsibility
The incident serves as a reminder that allowing another person to use a credit card does not transfer the financial responsibility attached to the account.
Even when the arrangement involves a friend, relative or neighbour, the cardholder remains responsible for the transaction and should carefully consider the risks before agreeing to such requests.
