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Refunds on card and spending the returned amount
BurningMad
Posts: 23 Forumite
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?
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?
0
Comments
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Yes
The message you have entered is too short. Please lengthen your message to at least 10 characters.0 -
No it doesn't...0
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Why not? .....0
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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.0 -
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).0
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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.0 -
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.0
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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?0 -
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.0
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