Query abt EMi

16°
Deal Cadet
Lootster

I have made transaction on 6th Sep with emi. My bill generation date is 8th september. Transaction amount got converted to emi on 9th september. 

In credit card bill it is showing full amount as payable. (Bill generated for full amount)


Please share ur experience abt such transaction. Should i pay full amount before duedate or only the emi amount.

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Benevolent Benevolent
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which bank credit card you're using?

  • some banks don't treat the refunds as payment, so in this case, you might need to pay the full amount.
  • but most banks treat any credit as payment, so in this case, you might not need to pay any amount, as the EMI is converted on the 9th Sept, thus I assume, the full amount is refunded on that day, and the EMI will be charged on that day or from next month.
Deal Cadet Deal Cadet
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flash007 wrote:

which bank credit card you're using?

  • some banks don't treat the refunds as payment, so in this case, you might need to pay the full amount.
  • but most banks treat any credit as payment, so in this case, you might not need to pay any amount, as the EMI is converted on the 9th Sept, thus I assume, the full amount is refunded on that day, and the EMI will be charged on that day or from next month.

Sbi irctc platinum card

Deal Cadet Deal Cadet
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flash007 wrote:

which bank credit card you're using?

  • some banks don't treat the refunds as payment, so in this case, you might need to pay the full amount.
  • but most banks treat any credit as payment, so in this case, you might not need to pay any amount, as the EMI is converted on the 9th Sept, thus I assume, the full amount is refunded on that day, and the EMI will be charged on that day or from next month.

IMG7086

Got confirmation from SBI. Thank you

Benevolent Benevolent
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Lootster wrote:

IMG7086

Got confirmation from SBI. Thank you

Nice to know that Sbi is treating any refunds as payments as well.
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