Amazon product not delivered on EMI transaction

technofast

technofast

Huh?
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I bought a cot and mattress from Amazon during recent sale and converted the purchase to 6 month EMI using ICICI Amazon credit card. The cot got delivered but the mattress was not delivered for some operational problem and the amount was refunded back to the credit card account. Now since two products are clubbed with the EMI and one product has been refunded. EMI has already been generated by the bank. I am not sure how the refunded amount will be adjusted in the EMI. When I checked with bank they told that it cannot be adjusted unless both products in EMI are cancelled. However, Amazon says the refunded amount will be adjusted in the forthcoming EMI's. I am not sure how this issue will be resolved. Any suggestions?
 
technofast said:
However, Amazon says the refunded amount will be adjusted in the forthcoming EMI's.
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Then wait till the upcoming period, to see It's get adjusted or not.

Check out: https://www.amazon.in/gp/help/custo...A95__SECTION_DBD40737073E4A5A960BBA90B14E8466

For credit cards:
Your card issuing bank may charge pre-closure charges if you cancel/ return an order paid through EMI. This policy may vary from bank to bank. For more details please contact your card issuing bank.
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if the amount is refunded u r credit card will be with positive balance for ex u r limit is 100000Rs. and refunded amount is 10000 u r balance will be 110000+ every month emi will be deducted till the amount is 100000/=
 
anpl said:
if the amount is refunded u r credit card will be with positive balance for ex u r limit is 100000Rs. and refunded amount is 10000 u r balance will be 110000+ every month emi will be deducted till the amount is 100000/=
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Yes, but the EMI's are generated seperately and I need to pay fixed amount monthly as per the EMI chart even if I had received the refunded amount back to the card account.
 
The mattress amount will be adjusted in the billing cycles.
Let's say:
Two items are purchased together with total value of 15000. One product is 5000 and other 10000.
Say EMI is generated for 3 months.
So 3x5000= 15000

Now item value of 10000 gets cancelled.
So your purchase value is now 5000 only, but you will still be paying 5000 for 3 months.
However you won't pay 15000 as the cancelled items price i.e 10000 will be send back to your card.

So your EMI will still active but GST, Interest and processing fees will be charged as per 15000 EMI(that's the loss part)

Note: I am not from any credit card department but this is how it worked in my case.
 
TechUser00 said:
The mattress amount will be adjusted in the billing cycles.
Let's say:
Two items are purchased together with total value of 15000. One product is 5000 and other 10000.
Say EMI is generated for 3 months.
So 3x5000= 15000

Now item value of 10000 gets cancelled.
So your purchase value is now 5000 only, but you will still be paying 5000 for 3 months.
However you won't pay 15000 as the cancelled items price i.e 10000 will be send back to your card.

So your EMI will still active but GST, Interest and processing fees will be charged as per 15000 EMI(that's the loss part)

Note: I am not from any credit card department but this is how it worked in my case.
Click to expand...
The EMI's have been generated for the entire amount including the cancelled amount.
 
technofast said:
I bought a cot and mattress from Amazon during recent sale and converted the purchase to 6 month EMI using ICICI Amazon credit card. The cot got delivered but the mattress was not delivered for some operational problem and the amount was refunded back to the credit card account. Now since two products are clubbed with the EMI and one product has been refunded. EMI has already been generated by the bank. I am not sure how the refunded amount will be adjusted in the EMI. When I checked with bank they told that it cannot be adjusted unless both products in EMI are cancelled. However, Amazon says the refunded amount will be adjusted in the forthcoming EMI's. I am not sure how this issue will be resolved. Any suggestions?
Click to expand...
If that is a no-cost EMI, then there should be no problem. You already got the money credited to your credit card for your cancelled product. The interest portion for the full amount is already adjusted. If your total payment is 15,000 and 5000 is credited back to your CC, you will still be charged 2,500 per month i.e., 15,000 for 6 months. As you already have 5,000 in credit, you will effectively be charged only 10K.
 
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