Credit Card Refund

renegada

I am soon to receive a refund from a credit card company, which they say they will pay into my account. I pay my credit card off every month and so it will be in credit. Does anyone know whether I can simply withdraw the money as cash without incurring charges?

NickX

renegada wrote: »

I am soon to receive a refund from a credit card company, which they say they will pay into my account. I pay my credit card off every month and so it will be in credit. Does anyone know whether I can simply withdraw the money as cash without incurring charges?

Probably not. Most cards will charge you to withdraw cash even if the account is in credit. One noteable exception to this is the Abbey Zero card.

Why not call them and request they return the positive balance to your bank account. I have never had a problem doing this for relatively small amounts and have never been charged.

anniecave

If it's a small amount, and you are spending on the card every month, then surely it will show alongside your purchases on your statement so your payment due value will be the value of your purchases less the value of the refund?

Numpty_Monkey

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renegada

Thanks for advice. I've talked to the company now, and they say they would charge to draw out cash. However, although they will only refund into my account, they will transfer the money to my bank account free of charge.