Are there any charges if I cancel any credit card transaction that was converted to an EMI using the idfc first credit card?

Credit Cards IDFC First
1

Will i have to pay charges to cancel a transaction that was converted to EMI?

2

Yes, EMI cancellations have a foreclosure fee of 3% + GST on the principal outstanding amount. Additionally, pro-rated interest will be charged from the post EMI presentation date to the foreclosure date + GST.

3

Yes, EMI conversion will incur the below charges:

  1. A one-time processing fee of Rs. 99 or 1% of the transaction amount (whichever is higher) + GST
  2. Interest of 18% p.a. (reducing rate) + GST.
4

Short answer is Yes, and it depends how much does your bank charge for the foreclosure.