Card that reduces DD based on refunds?

magicbaby

I do a fair amount of online shopping on my M&S card, and I pay the balance in full every month via Direct Debit. Most of the shopping goes back so I get a lot of refunds.

Up until last month, M&S bank would reduce my direct debit if the refund appeared in the following 2 or so weeks after my statement date. They've stopped doing this, and took the full statement balance on the Direct Debit.

Does anybody know of any other cards that reduce their DD payments as M&S used to do? It's a nice feature

grumbler

Aqua started doing this recently (ETA: they do this for extra payment, I am not sure about refunds).

Milarky

Peoples Bank* (of Connecticut) used to do this too.

(They left the UK and the brand was managed as 'Providian' then Barclaycard bought them out a few years later circa 2000)

molerat

Cap1 do .

forgotmyname

Isnt there a risk of the refund arriving after the bill date though?

agrinnall

Nationwide Select does it for refunds and cashback. As forgotmyname says you do need to watch out for the dates, and not rely on a refund being credited before the DD is taken - to be on the safe side I would make sure you have the full amount of the DD on the statement in your account on the payment date.

p00hsticks

forgotmyname wrote: »

Isnt there a risk of the refund arriving after the bill date though?

I don't think so - deetails of any refund will go direct to the card company, and as I readi it the OP is talking about the circumstance where the card company receives the refund in the period between producing the statement and requesting the DD amount.

iancrt

magicbaby wrote: »

I do a fair amount of online shopping on my M&S card, and I pay the balance in full every month via Direct Debit. Most of the shopping goes back so I get a lot of refunds.

I know this isn't the point of the thread - but why do you buy 'a fair amount' then send 'most' of it back?

fozmcfc

iancrt wrote: »

I know this isn't the point of the thread - but why do you buy 'a fair amount' then send 'most' of it back?

Some people do this with shopping channels and catalogues as there is usually a certain amount of days money back guarantee, plus of course the consumer has certain rights when it comes to distant selling on many items.

It has been known though, for companies to quite rightly, get fed up with these time wasters and close down their accounts.