Can someone please explain confusing HDFC statement?

Deal Cadet

I got a Moneyback plus credit card with low approval limit - 75k. I did couple of transactions on the card:


65k to buy phone from Samsung

Later due to issue with Samsung I wanted to buy phone from Amazon. As my limit was exhausted I transferred 55k to the credit card. I did a transaction of 53.4k with 3 month No-cost EMI on Amazon. 

While the transaction from Samsung was reversed, the 53.4k transaction was converted into EMI. 

Now the total should be:

1200 + 65k - 65k + 53.4k - 55k = -400

but somehow the balance was showing as 52.9k. I didn't understand why this was.

Later I cancelled the EMI as I had prepaid the amount. HDFC sent me a confirmation that EMI was cancelled with no-prepayment. They added 284 as interest + 51.27 as GST. And asked me to pay 53.7k (53.4k + 300k in charges) by tomorrow. 

Even with this change the balance should be -400 + 284+51.27 = -64.73

But I still see the balance as 52.9k. and HDFC support hasn't been helpful. One person says I don't need to pay anything. Other person says I have exceeded my 75k limit somehow. 

Please help to solve this mystery. 

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Deal Newbie Deal Newbie
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either 55k you paid is not received by bank or samsung order reversal didn't happen

Wingman Wingman
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Even i have these confusion when i pay card bills before due date or reverse payment ..

So i just stopped calculating and pay the amount as per statement.

Deal Cadet Deal Cadet
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That was my first thought. So, I checked and double checked. Both the amounts are appearing in statement. Those are not under settlement as well.

Deal Cadet Deal Cadet
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Another call with HDFC and it seems the system is broken. 

1. They say the balance is -403 before the EMI pre-closure. I should ignore whatever is showing in the app. The amounts will be adjust when the final bill is prepated. 😩

2. They say the amount 53.4k has been converted to EMI. And the amount will be reversed in next 4-7 days. Before that it is still a debit transaction. If I try to preclose EMI today then I will have to double pay the amount. First the -53.4k debit +  53.7k debit for the EMI preclose. So, total over 1lakh for the same transaction. 😞

So, the solution offered was to cancel the EMI preclosing and then wait till next week for 53.4k to be credited. Only then try preclosing again. Took that option.

Deal Subedar Deal Subedar
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Bhai statement breakup dekho statement break up dekho

Benevolent Benevolent
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Just wait for actual statement to be generated...

Deal Subedar Deal Subedar
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Maybe mask your details and upload a screenshot of the statement? That would be helpful to analyse.

Deal Subedar Deal Subedar
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@admin can you please delete this entry?

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Deal Subedar Deal Subedar
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If you had cancelled the emi along with the order, I think this is all sorted. Only some companies show negative outstanding(sbi), some dont(kotak).

If that's the case with HDFC, The negative balance, the amount you paid(55k) is with the bank and will be adjusted towards your future purchases.

Hope I am explaining it well. Don't hesitate ask any doubts.

Deal Cadet Deal Cadet
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The confusion is because there was no cancellation along with the order. Here's the sequence if it makes sense. 

0. Paid 53401 on Amazon on 23rd.

1. Yesterday (27th) got email that the Amazon amount (53401.14) was converted to EMI. 

2. Checked the balance it was +52997.38 (this was total credit - total debit + 53401.14) for some reason. 

3. Thinking it will resolve itself tried to cancel the EMI. But then the HDFC call support caused lot of confusion. One guy said I don't need to pay anything. Another guy said EMI reversal did not happen yet.  So, the account was in positive and I needed to pay another 53.7k more if I want to preclose the EMI. To be safe I cancelled the "EMI cancellation"

4. Today (28th) the EMI reversal happened and now 53401.14 amount was reversed. I was hoping the account will show some details so that I can see the correct amount. Now the account is showing 0. It might be due to what you are saying about banks not showing negative balance. But for now I can't for my life figure out my real balance or what amount to pay if I cancel the EMI. 

The only recourse seem to be to wait for statement. 😩

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