Does refund count as payment?

Mumto2

Our credit card is paid off in full every month.
This month, I've bought a number of items which are being returned (curtains - trying to match colours etc!). They will be returned after the statement has been generated. What I'm wondering is, if the CR will cover the original charge or do I need to pay the full amount listed on this months statement.

Thanks

BeenieCat

As far as i remember, it doesn't count as a payment, but your minimum payment will be reduced as a result of the credit. You'd probably need to ring them to readjust the total payable though.

In your case, i'd just pay the full balance minus the refund and it should adjust accordingly before interest is applied.

But i could be wrong!

Mumto2

Thanks - it's approx. £500 refund on a bill of £1000, so want to be sure!

BeenieCat

Who is the credit card with? Might mean someone else comes along who can confirm it.

Moggles_2

As above, a refund doesn't count as a payment.

You cannot be sure exactly when the refund will be credited to your card account, so I would settle the statement balance as normal if you want to avoid interest charges.

exel1966

Mumto2 wrote: »

Our credit card is paid off in full every month.
This month, I've bought a number of items which are being returned (curtains - trying to match colours etc!). They will be returned after the statement has been generated. What I'm wondering is, if the CR will cover the original charge or do I need to pay the full amount listed on this months statement.

Thanks

Pay the full amount off, await the credit, then either request a refund from the card company or spend on the card to reduce the 'credit'.

The refund will not count as a payment.

vickyb242

I got caught with this last month on a Virgin card. Didn't make my payment as the refund was for the same amount, curtians for £69.99. It was the only thing on the card.

Received a £25.00 late payment fee. Now i'm in credit!

Thanks
V

Paulgonnabedebtfree

vickyb242 wrote: »

I got caught with this last month on a Virgin card. Didn't make my payment as the refund was for the same amount, curtians for £69.99. It was the only thing on the card.

Received a £25.00 late payment fee. Now i'm in credit!

Thanks
V

Even if they were correct to make a late payment charge, surely it should have been for £12?

Moggles_2

vickyb242 wrote: »

I got caught with this last month on a Virgin card. Didn't make my payment as the refund was for the same amount, curtains for £69.99. It was the only thing on the card. Received a £25.00 late payment fee. Now i'm in credit!

Yes, this is true of all credit cards.
Sorry you've found out the hard way, but thanks for posting. Your feedback alerts others.

Note: Virgin's late payment fee is normally £12. This too is pretty standard across the industry.

exel1966

vickyb242 wrote: »

I got caught with this last month on a Virgin card. Didn't make my payment as the refund was for the same amount, curtians for £69.99. It was the only thing on the card.

Received a £25.00 ??? late payment fee. Now i'm in credit!

Thanks
V

If this a first time 'offence' [STRIKE]your[/STRIKE] you're more than likely get the £12 charge refunded by calling and apologising for your 'oversight'.

redpete

Mumto2 wrote: »

Our credit card is paid off in full every month.
This month, I've bought a number of items which are being returned (curtains - trying to match colours etc!). They will be returned after the statement has been generated. What I'm wondering is, if the CR will cover the original charge or do I need to pay the full amount listed on this months statement.

CC Ts&Cs might vary, but with our Tesco card refunds are definitely not counted as payments. I reduced the payment by the amount of a refund that was credited way before the payment date but got charged interest. When I phoned to ask why they said that refunds are not counted as payments with reference to the monthly payment amount.