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Credit card overpayments
Jimmy000
Posts: 2 Newbie
in Credit cards
I was wondering, if you were to accidentally overpay on your credit card, how do you go about getting the difference back.?
For example:
Balance of CC is £600
Minimum payment this month is £200
You intended to pay £300 this month and the same the next
You accidentally pay £1200
CC company says they will only refund £600
Am I right in thinking that if the minimum payment is £200 then they should be willing to refund £1000 (granted that there may be fees/admin costs involved).
The payment history is clean and card is always paid up every month.
The CC company were informed immediately.
Thank you.....
For example:
Balance of CC is £600
Minimum payment this month is £200
You intended to pay £300 this month and the same the next
You accidentally pay £1200
CC company says they will only refund £600
Am I right in thinking that if the minimum payment is £200 then they should be willing to refund £1000 (granted that there may be fees/admin costs involved).
The payment history is clean and card is always paid up every month.
The CC company were informed immediately.
Thank you.....
0
Comments
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......if you were to accidentally overpay on your credit card, how do you go about getting the difference back.?
The CC will only refund the positive balance. - So, you’ve cleared the card in full this month.
If you don’t spend anything this month, you have nothing to pay next month (apart from maybe a few quid ‘residual interest’).
0 -
Agree with the above, you can only get the £600 back I'm afraid.0
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As per the previous replies, you owe £600 and have paid £1200. therefore you have overpaid by £600. What the minimum repayment was is of no relevance. Also if had £1200 available why would you only want to make the minimum payment and be charged interest on the outstanding balance?0
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You may be able to get it back next month. Otherwise it will show as a credit balance, so you could use it to offset future purchases on that card. BTW, that's a VERY high minimum payment on a balance of £600 - which card is it? Just interested. x0
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RuthnJasper wrote: »You may be able to get it back next month. Otherwise it will show as a credit balance, so you could use it to offset future purchases on that card. BTW, that's a VERY high minimum payment on a balance of £600 - which card is it? Just interested. x
OP is only quoting an example!0 -
Thank you all for your replies.
The answer is what I was expecting but my collegue who it was who accidentally overpaid still let slip a few expletives when we confirmed it!!
The moral I guess, is always pay attention when doing your banking.
Thanks again
Jimmy.0 -
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Silly me - please forgive...!
) colleague! xx This discussion has been closed.
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