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.

What if it’s simply click?

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.

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

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

Will i get 5% cashback on Amazon pay ICICI card on no cost emi transaction and additional profit on cancellation of EMI ? Can someone confirm this ?

Is this trick still working? Buy at no cost emi and then cancel emi to get additional discount?

i have done this for both ICICI & HDFC bank offers. For ICICI they will do a full refund if done within 15 days. HDFC will charge the processing fee and the interest of the first EMI. and in both cases the reward point accrued will be lost. i prefer this method as i don't want to pay the monthly emi as i only purchase things, when i can pay them in one go. that works for me...

Works for Icici and hdfc. Have been doing it since years.

Just note that whenever you call customer care. Tell them to cancel the emi. Don't say I wish to foreclosure it.

Cancelling emi and foreclosure are 2 different things.

Any one tried with hdfc recently? what are all steps to do? i want to buy laptop from third party merchant site who is offering hdfc no cost emi offer.

Is the trick alive for icici credit card

Does it still work?

Just now made a purchase with 3k discount AND 2k no cost EMI interest discount.

When should I call ICICI Bank to cancel EMI?

Will this work on Axis cards?
Update: Called Customer care as processing fee is 1% which is too much for my transaction value of 73k.
Call 1: Sorry Sir, EMI processing fee cannot be reversed. Rules changed from April 01.
Call 2: Same story again. Asked to connect their manager and he took the request to cancel the EMI and reverse the fees.

1

Select No Cost EMI option

2

Wait for EMI to get converted and posted

3

Call the customer service to cancel the EMI

(Cancel not Foreclosure)

(All of this has to happen within 15 days from payment)

I guess this is how you supposed to enjoy the "No cost emi discount"