Present credit card balance lower than statement balance because of refund

noelphobic

I normally pay my credit card balance in full each month (apart from when I have had interest free offers on purchases). My last credit card statement balance was £1950 (major work on house requiring bigger spend than normal!) However, since my statement date I have had a refund of £150 for items I returned.

Do I still need to pay the full statement balance to avoid interest charges, despite the fact that my balance is now lower than that? Or can I just pay what is presently owing - ie £1800?

stephane_2

If the refund has already reached your credit card account then you just need to pay the 1800

zen135

You just need to pay the remaining £1800 to avoid interest charges. The £150 refund would be treated as a credit on your account towards your last statement balance of £1950.

chattychappy

That has been my experience too.

But didn't we have a thread a while back from someone saying they were charged interest? In that case the OP was told that once the statement had been generated (ie before the refund hits), the full balance had to be paid to avoid interest.

Have you checked to see what the T+Cs say? If it's not clear then I would check with the CC and take a note of the name of the person you spoke to and the date/time if you rely on what they say.

For the sake of £150 on such a large balance, I think I'd pay the £1950 unless I was absolutely certain.

noelphobic

chattychappy wrote: »

For the sake of £150 on such a large balance, I think I'd pay the £1950 unless I was absolutely certain.

Yes, I think I will do that, it's only delaying the inevitable and I wouldn't get much interest banking £150 for a month! Plus I'll soon have put another £150 on the card anyway!

redpete

chattychappy wrote: »

But didn't we have a thread a while back from someone saying they were charged interest? In that case the OP was told that once the statement had been generated (ie before the refund hits), the full balance had to be paid to avoid interest.

Happened to me on a Tesco card - charged interest despite refund + money paid into account being higher than full statement amount. Check with the provider or pay the full amount anyway as suggested.

grannybroon

I was in a similar situation. I paid the full amount shown on the statement. The refund then showed on my next statement, along with purchases for that period.