IDFC credit card charging EMI for refunded transaction.

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Kochiro

My friend phone stopped working so I ordered her a phone from Flipkart on EMI. It was showing same day delivery during order process and the entire day but the phone never came and she has to leave next day morning so I cancelled it. 

               Now the transaction and cancellation happened on same day but on next day I noticed that it was showing refund + emi processing charge and gst. Instead of settling the refund against outstanding, it is now showing it as excess credit. What should I do, they are asking to pay for foreclosure fee but I don't understand how can they charge for a transaction which wasn't settled and immediately got refunded. CC said you will have to pay monthly emi for 9 months.

Edit : I noticed that I used axis card for the successful transaction. Idfc one was failed attempt like money deducted but transaction never happened and no order number was generated .

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Deal Cadet Deal Cadet
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Maybe bad systems by idfc in the backend. I did something similar with my BoB card, and immediately got full refund without any emi fees. 

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@Kochiro

not possible idfc refunds are instant

talk to your bank relationship manager he will get it on email you dont need to worry about this just dont waste days and go to the idfc branch near you 

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I don't have account in idfc just cc

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Deal Newbie Deal Newbie
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@Kochiro I had done an order on croma on No cost EMI and it showed that I will get full EMI interest in cashback as shown in below pics. And after that I cancelled the EMI in 3 days by contacting bank. What will happen now? Cashback wont be credited?


image

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croma is smart about this, they let emi end then contact bank and confirm it then transfer the interest amount.
Deal Newbie Deal Newbie
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But my aim was to get the No cost emi cancel and then No cost EMI cashback too. Like if we order on amazon or flipkart on No cost Emi, then we get instant discount after that I used to cancel the EMI. So I thought to do same with croma to get more discount. But I hope it wont work. I am in heavy losses.😔

Deal Cadet Deal Cadet
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Does IDFC reverse charges (like ICICI, HDFC) if we do EMI Cancellation within 24 - 48 hrs of txn.

Finance Ninja Finance Ninja
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Same question. If anyone knows, please guide. Thanks ! 

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