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Got a refund on CC but still have to pay same Closing Balance
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jennyjen
Posts: 38 Forumite
in Credit cards
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?
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?
0
Comments
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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.0
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