Cancelling a credit card with an active EMI plan generally doesn't erase the remaining balance - most UAE banks require the outstanding EMI amount to be settled in full before, or as part of, the cancellation process, since the instalment plan is still a form of outstanding credit tied to that account. Attempting to cancel a card without settling an active EMI plan can result in the bank declining the cancellation request until the balance is cleared.
Check your own exact figures with the Credit Card EMI Calculator - free, in under a minute, no sign-up required.
Frequently Asked Questions
Can I transfer an active EMI plan to a different credit card?
This is uncommon and depends entirely on the specific bank's policy - most EMI plans are tied to the specific card they were opened on.
Does settling the EMI early trigger an early repayment fee?
Some banks apply an early settlement charge for closing out an EMI plan ahead of schedule, so it's worth confirming this before cancelling.
What if I want to downgrade my card instead of cancelling it?
Downgrading rather than fully cancelling can sometimes allow an existing EMI plan to continue uninterrupted, though this depends on the bank's specific product rules.
Does an unresolved EMI balance affect my credit score if I try to cancel?
An outstanding balance that isn't settled as agreed can affect your credit score the same way any unpaid credit card balance would.
How can I check my remaining EMI balance before cancelling a card?
Use the credit card EMI calculator alongside your statement to confirm exactly what's left to settle.