Refunds on card and spending the returned amount

BurningMad

My card was used for a fraudulent transaction which has now been refunded to me. This means my credit limit is now £25 over my designated credit limit (as I have nothing owing on the card).

For example my limit is: £2900. Now it is £2925 with the added refund.

Does this mean I can spend £25 on the card and will not have to pay it back?

dc110

Yes



The message you have entered is too short. Please lengthen your message to at least 10 characters.

nomoneytoday

No it doesn't...

dc110

Why not? .....

BurningMad

How can I spend the money then?

It is money that I have already paid off before the investigation refunded it back. I am £25 out of pocket at this time if I cannot spend it without paying it back.

td_007

Yes you can either adjust it against you spending (will be done automatically) or you can ask the CC to return the excess amount (usually cheque).

Alex_LS

BurningMad wrote: »

Does this mean I can spend £25 on the card and will not have to pay it back?

No. You've already paid it back, in advance.

dc110

Alex_LS wrote: »

No. You've already paid it back, in advance.

You know what the OP meant

Alex_LS

Not really, no. I can't imagine why the OP would think they had to 'pay it back' or even they would think there was to pay back on a zero balance.

dc110

It wasnt worded in the best way but if you read it it was obvious that there was a credit balance on the card and he/she wanted to know if could spend it without any problems.

Maybe they thought any purchase (even with money they didnt owe) would still incur interest charge?

BurningMad

I didn't know how to word it. It seemed clear to me.

I think I will just chance my hand with the spending of the £25 and see what happens on my next bill.