Refund Question

anotheruser

I purchased something on my credit card, let's say it cost £100.

My statement was produced on the 15th of the month, but I was refunded on the 17th.
So I have a paper bill which says £100 owed.

When I log in to internet banking, the credit card still says £100 debt. Will it be next month that I see it has been refunded and therefore won't owe anything? Or does it go in sooner? If the latter, how long?

Thanks

redpete

Some CCs won't count a refund as a payment - so you will still need to pay the minimum amount they requested.

Your online balance should show the refund as soon as it arrives with them.

guesswho2000

redpete wrote: »

Some CCs won't count a refund as a payment - so you will still need to pay the minimum amount they requested.

Your online balance should show the refund as soon as it arrives with them.

Indeed, in fact I'm pretty sure all credit cards specifically state that a refund won't be counted as a payment unless it clears the balance in full.

So, if OPs bill was £100, then after the statement was produced a £100 refund was processed, I'd assume this would count as cleared - best to call the card company and make 100% sure though.

anotheruser

I was going to say, if not then how would I get the £100 back?
It's a Halifax Clarity credit card.

Will check again later to see if it's cleared the payment.

redpete

anotheruser wrote: »

I was going to say, if not then how would I get the £100 back?

• You use the CC to buy £100 worth of normal spending (e.g. groceries) or
• You call the CC company and ask them to apply a credit to your bank account to bring the CC account to £0.

guesswho2000

anotheruser wrote: »

I was going to say, if not then how would I get the £100 back?
It's a Halifax Clarity credit card.

Will check again later to see if it's cleared the payment.

Since it's a Halifax Clarity card, just withdraw it from a cashpoint. There's no fees, so it's the quickest free way to get the cash.

thenudeone

Some CC companies will treat a refund as a payment, some not.

If you have a DD for the full payment some (eg Barclaycard) will reduce the DD for any refunds, some won't.

I don't know of any single list showing how each card co. does it.

As long as you are spending regularly it doesn't make much difference. If you're concerned, ask them .