Cancel no cost emi and enjoy Cash back.

I think it is not possible.

Which bank card. If ICICI Credit card then you can enjoy no cost emi discount.

srini1973 wrote:

Which bank card. If ICICI Credit card then you can enjoy no cost emi discount.

Yes,It is icici bank credit card.

Sushil_patwari wrote:
Yes,It is icici bank credit card.

srini1973 wrote:

Just call ICICI and ask them to cancel EMI, if called within 15 days of purchase no additional charges levied, I have done many times.

I ordered today yet transaction is not converted to emi. Can I call now and cancel emi conversion.

Sushil_patwari wrote:

I ordered today yet transaction is not converted to emi. Can I call now and cancel emi conversion.

Let it reflect in unbilled, once its reflect in unbilled transactions you can call and request them to cancel EMI. Also take the request number for future tracking.

What if it’s simply click?

punjab_se wrote:

What if it’s simply click?

3% penalty

srini1973 wrote:

Just call ICICI and ask them to cancel EMI, if called within 15 days of purchase no additional charges levied, I have done many times.

Do you get billed original pricce (Say, X) of sale or Original price less no cost emi discount ( Say, Y).

If its Y, then this a brilliant opporutnity if it can be done on other banks. Has anyone used it on HDFC, Axis or Yes bank?

niggabecool wrote:

Do you get billed original pricce (Say, X) of sale or Original price less no cost emi discount ( Say, Y).

If its Y, then this a brilliant opporutnity if it can be done on other banks. Has anyone used it on HDFC, Axis or Yes bank?

Yes, it will get billed first emi and when cancelled remaining amount will come as single transaction, charges billed will get credit. No need to worry.

srini1973 wrote:

Yes, it will get billed first emi and when cancelled remaining amount will come as single transaction, charges billed will get credit. No need to worry.

No hidden charges for cancelling emi for HDFC cards? If this is the case then it’s kind of extra discount

Fanil wrote:

No hidden charges for cancelling emi for HDFC cards? If this is the case then it’s kind of extra discount

I am mentioning about icici bank cards.

niggabecool wrote:

Do you get billed original pricce (Say, X) of sale or Original price less no cost emi discount ( Say, Y).

If its Y, then this a brilliant opporutnity if it can be done on other banks. Has anyone used it on HDFC, Axis or Yes bank?

Once it gets billed it’s always Y. And Y when presented to bank, they don’t have any control over increasing the amount. Now with HDFC, they will cancel upon request and it takes about a day or two. Once done, one need to pay this Y amount + any other outstanding amount within 2-3 days. One will not have any standard grace period.
The bonus one gets is there are no rewards points applicable for Y transaction. As far as I remember one can’t have any other loan associated with the card while settling Y transaction

PS: I’m doing this from the last 4 years and I usually time it so as to not to get burdened by other transactions on the card

It means that if we buy something on no cost emi and then cancel emi and then cancel the order,,we will get the discount of interest charged.. Can someone throw a light on this?

hacker96 wrote:
It means that if we buy something on no cost emi and then cancel emi and then cancel the order,,we will get the discount of interest charged.. Can someone throw a light on this?

Closing no cost emi has any effect on cibil? Last time i asked this question and dimers said dont do it as it may affect cibil.

insta wrote:

Closing no cost emi has any effect on cibil? Last time i asked this question and dimers said dont do it as it may affect cibil.

0 impact on cibil

Sushil_patwari wrote:

0 impact on cibil

R u sure? Verified?

niggabecool wrote:

Do you get billed original pricce (Say, X) of sale or Original price less no cost emi discount ( Say, Y).

If its Y, then this a brilliant opporutnity if it can be done on other banks. Has anyone used it on HDFC, Axis or Yes bank?

HDFC is most pathetic they charge 199+GST as emi processing fee

drupal wrote:

HDFC is most pathetic they charge 199+GST as emi processing fee

What about axis bank..

Also flipkart axis bank card as it gives no cost emi always.

andromeda wrote:

Once it gets billed it’s always Y. And Y when presented to bank, they don’t have any control over increasing the amount. Now with HDFC, they will cancel upon request and it takes about a day or two. Once done, one need to pay this Y amount + any other outstanding amount within 2-3 days. One will not have any standard grace period.
The bonus one gets is there are no rewards points applicable for Y transaction. As far as I remember one can’t have any other loan associated with the card while settling Y transaction

PS: I’m doing this from the last 4 years and I usually time it so as to not to get burdened by other transactions on the card

Thnaks for the quick revert. Might make sense in high value purchases where return is greater than reward return and covers the 199+gst fee kg added

andromeda wrote:

Once it gets billed it’s always Y. And Y when presented to bank, they don’t have any control over increasing the amount. Now with HDFC, they will cancel upon request and it takes about a day or two. Once done, one need to pay this Y amount + any other outstanding amount within 2-3 days. One will not have any standard grace period.
The bonus one gets is there are no rewards points applicable for Y transaction. As far as I remember one can’t have any other loan associated with the card while settling Y transaction

PS: I’m doing this from the last 4 years and I usually time it so as to not to get burdened by other transactions on the card

I have made purchase of 14000 using hdfc card from flipkart

The product has been cancelled and now amount has been refunded

Now hdfc has charged me 199+ gst as processing fees

Will hdfc refund emi processing fees and gst ?

drupal wrote:

HDFC is most pathetic they charge 199+GST as emi processing fee

They charged emi processing fees for cancelled transaction

Yup this works perfectly.. Cancelled no cost EMI and took 3k extra discount.. No extra charges.. Citi bank cc

sweetestone.k92998 wrote:

I have made purchase of 14000 using hdfc card from flipkart

The product has been cancelled and now amount has been refunded

Now hdfc has charged me 199+ gst as processing fees

Will hdfc refund emi processing fees and gst ?

Talk to them and find out. They should in most cases else pressurize them.

drupal wrote:

HDFC is most pathetic they charge 199+GST as emi processing fee

@drupal @andromeda HDFC will charge 199 + GST but do we need to pay original price (x) or Original price – no cost emi discount ( Say, Y)?

Does this also work with yes bank or amex ?
Lookinf for cards which do not charge processing fee.

_pb wrote:

@drupal @andromeda HDFC will charge 199 + GST but do we need to pay original price (x) or Original price – no cost emi discount ( Say, Y)?

I am looking for the same info as well. Anyone know about it?

raghupro wrote:

I am looking for the same info as well. Anyone know about it?

You will pay y + any pending interest.