[Help] Best way to forclose HSBC credit card EMI without charges

[vaibhavshukla]

I had 1 Merchant EMI transaction of 28k at Amazon (to avail extra discount) and want to foreclose that EMI transaction. Can you please help with best way to foreclose this EMI without charges/ less charges ?

As per TnC of HSBC credit card there will be 3% charges for foreclosure of EMI, which I really want to avoid.
Pleas help 🙏

 

[sxchzy]

IF IT IS A COST EMI
foreclosure charges would be applicable cant do anything

 

[vaibhavshukla]

IF IT IS A COST EMI
foreclosure charges would be applicable cant do anything

It's a NoCost EMI offered by Amazon
Can we pay full outstanding before converting to EMI / bill generation, would that help ?

 

[sxchzy]

then check the cancellation charges for ncemi with customer care

 

[doomlord]

It's a NoCost EMI offered by Amazon
Can we pay full outstanding before converting to EMI / bill generation, would that help ?

Did you cancel the emi, what charges they took , can you pls share?

 

[vaibhavshukla]

Did you cancel the emi, what charges they took , can you pls share?

Yes cancelled EMI, they told there will be 3% of principal amount charged

 

[sxchzy]

it is common industry practice
better to keep ncemi running and only keep paying gst

 

[doomlord]

Yes cancelled EMI, they told there will be 3% of principal amount charged

He told me to contact merchant and cancel the emi, which is weird

 

[sxchzy]

yes thats true
because merchant is the one who initiates ncemi or emi

 

[vaibhavshukla]

He told me to contact merchant and cancel the emi, which is weird

that's really weird. for me cancellation done by HSBC

 

[doomlord]

yes thats true
because merchant is the one who initiates ncemi or emi

So I have to contact Paytm now to close this emi ?, I took a flight offer on hsbc on which it was applicable for NC emi only.

 

[sxchzy]

yes
you need to contact paytm