Can I prevent credit card transaction from turning into an EMI?

General
1

I bought an expensive appliance from a big brand retailer with my HDFC credit card today and they had some nice offers, that too with “no cost” EMI!

The sales man told me that the “interest” will actually be given as cash back, but after making the purchase and coming back home, I am slowly realizing that he might actually be lying about the cashback, because I never saw it in writing anywhere and I basically have zero proof now.

So I am 99% sure now that it was just a lie he told me to make a sale, now I want to stop my loss because he also mentioned an exorbitant processing fee, which will be deducted after the EMI is finalized on the bank side.

Right now only the actual principle amount of the appliance has been charged on my card, can I prevent it from it turning an EMI to avoid the processing fee and interest?

2

you must have signed so many documents upfront giving all sort of consent and approvals . seek help from the showroom head to get updated otherwise as you said EXORBITANT processing fee , interest and signature verification charges will be levied to you .
If you have taken Extended warranty and finance on it too that will be treated as loan no 2 , loan no 1 being loan on appliance purchased .

3

You can check EMI on your credit report at the end of the month. Check total loan amount and see if it is no cost EMI.

4

I only wrote down my address on a whitepaper and swiped the card, nothing else.

I think they’ve given extended warranty as free, it was one of the offers. I only have one loan on my card, I checked.

I already got EMI amortization email from HDFC and it is not no cost EMI, I have to pay 16% interest on it.

5

Even if it is at 16%, it can be no cost.

MRP of product - X
Discounted price if you agree to no cost EMI = Y (usually X - 1000 or so)
EMI * Tenure = Y. interest is already included in that.

Stores like Croma do it. It is common there.

Which is why I asked you to check per month EMI * tenure to understand total cost and whether it is what the salesman said.