Got a refund on CC but still have to pay same Closing Balance

jennyjen

Hi I'm a little confused about how credit card refunds work. I just got a refund for goods I bought several months ago and it has appeared on my online statement and reduced my balance.

However I still have to pay the statement for last month. In doing so I will then be in positive credit.

So how does this work? Will I pay the statement and then essentially have x amount of money to spend with no repayment needed and once the positive balance is gone we go back to normal borrowing?

molerat

Different cards handle refunds differently so in your case the positive balance will reduce as you use the card. If it is a substantial amount which you are not going to use quickly you could ask the card issuer to refund it. I pay mine in full by DD and a refund after statement would reduce the DD but I would not receive any notice of this.