Quick Question - interest

clairbear1000

Hi,

Just a quick question, I have received my credit card statement today, but at the same time I have just returned an item i have bought, which isn't showing yet on the statement.

If I want to pay the balance off in full, can i take into account the refund or not (once its processed)?

I know with the minimum payment you always pay but wasn't sure on the full balance.

I pay via manual payment not DD.

Thanks
CB

chattychappy

Really it comes down to the T+Cs of the particular card you have.

I can imagine that some cards might charge you interest unless you pay off the balance as shown on the statement in full - meaning you must pay it (ie refunds don't count for these purposes). If you didn't pay it off, then they'd charge you from date of transaction until date payment (or refund) reached them.

Other cards might just treat a refund as a payment. But as you note, this usually isn't the case for meeting the minimum payment.

Obviously if the refund hit the same statement as the original charge, then this wouldn't arise.