Getting credit back from card company

headcoat

I will be in the unusual situation of being £800 in credit with my credit card company. I bought a bike with it and paid it off like a good little boy, but the bike has now arrived and I am not happy with it. The company will refund my card meaning I will be in credit.

How do I actually get this back as cash or into a bank account?

Thanks

missile

Simplest just to buy things on your card.

Wheres_My_Cashback

Ask for a cheque from the card company. Dont withdraw as cash. Spend on regular purchases and you wont be covered by CCA.

McKneff

Be careful, if the bike is on one month and the credit is on the next month, you could be charged interest........

rubyinthesky

I was recently in credit to the tune of £8000, for a balance transfer request that I'd forgotten to cancel, having already paid off the balance! I phoned up and was put through to a department who arranged to transfer the money back to me, but put it into my current account. No charges were made.

bengalknights

You either just use card to make purchases or simply ring up and ask for a cheque

headcoat

Thanks for the help. No problem with interest I bought it and paid it off in a couple of days I just wanted the extra protection of the card. I think we will just spend it as we go along.

Wheres_My_Cashback

You wont have protection with the card for the £800 if its in credit.

chattychappy

Wheres_My_Cashback wrote: »

You wont have protection with the card for the £800 if its in credit.

You should be more specific....

Wheres_My_Cashback

see post 3. Obviously the C Credit A only applies to credit, not your own money.

chattychappy

Yeah, "obviously" you don't know what you are talking about but have some vague memory of what you've read somewhere. So now you cannot be specific.

You should refrain from generalised comments about "you won't be protected" and not being "covered by the CCA" unless you can be clear and back it up. Eg fraudulent use of card, s75, positive balance covered by fscs, etc.

The law is pretty uncertain in some of these areas, though the FOS did hold that you would potentially have less protection for fraudulent use of your card to access a positive balance. The OFT were of the opinion that S75 protection DOES still apply (the charge is still via an agreement regulated by the CCA), though I don't think it's been tested in court.