credit card emi

[suraj singh]

is it possible to purchase poduct on emi if product total value is higher than total credit limit of card but per month emi comes under total limit? example- credit limit-50000
, product price-60000 and emi is rs 10000 permonth for 6 months(no cost emi)

 

[BeingIncogBeingIncog is verified member.]

might get charged for using overlimit and maybe not possible too.

 

[Deleted member 11974]

transaction might get approved but over limit fee will be levied + you wont receive any points for emi transactions

 

[Deleted member 11974]

which bank card are you using and that you want to try this on?

 

[Piyush_Jaiswal]

is it possible to purchase poduct on emi if product total value is higher than total credit limit of card but per month emi comes under total limit? example- credit limit-50000
, product price-60000 and emi is rs 10000 permonth for 6 months(no cost emi)

Transaction gets declined due to insufficient balance in HDFC Bank's Credit Card. The same should happen in other cards too. I personally haven't tried on other bank's CC.

 

[Deleted member 11974]

you can try this.
not sure if they will waive off the overlimit fee on this.
if your limit is 50k and product that you want to purchase is of 60k
then credit 10k to your card by doing a payment.
this way your caard has a 60k limit not sure if the bank will levy overlimit fee for the same or not

 

[Piyush_Jaiswal]

you can try this.
not sure if they will waive off the overlimit fee on this.
if your limit is 50k and product that you want to purchase is of 60k
then credit 10k to your card by doing a payment.
this way your caard has a 60k limit not sure if the bank will levy overlimit fee for the same or not

I tried the same method for HDFC. It gets declined.

You can try with other CC.

 

[suraj singh]

which bank card are you using and that you want to try this on?

kotak

 

[Deleted member 11974]

kotak

Try it once with the way I mentioned

 

[Nilanchal]

I had a query,
For eg - Flipkart runs an offer of flat 1500rs off on purchase of products using 3 months emi.

Is it possible to choose emi option get discount and then close the emi instantly through the bank ?

If possible then, what all charges do I need to incur and how's this process works..