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Payment allocation refunded purchase on 0% card
Ben8282
Posts: 4,821 Forumite
Last Saturday I made a purchase using a credit card with a 0% balance. This was intentional and I am quite happy about paying the pennies of interest.
The item purchased was defective and was returned today for refund. The refund was immediately made using the chip/pin terminal in the shop (it was a major supermarket chain).
The next statement date is still a couple of days away and the refund transaction will probably be applied to the account prior to the next statement date.
Will the refund be applied to the specific purchase transaction which is actually being refunded but has not yet appeared on a statement or will it be applied to the previous statement balance? In this case that would mean the refund being applied to the 0% balance, as there is nothing else it could be applied to.
My guess is it will be the latter and I will find the 0% balance reduced. Any thoughts?
(This question is asked out of curiosity rather than concern. The amount of money involved in this instance is not a significant amount.)
The item purchased was defective and was returned today for refund. The refund was immediately made using the chip/pin terminal in the shop (it was a major supermarket chain).
The next statement date is still a couple of days away and the refund transaction will probably be applied to the account prior to the next statement date.
Will the refund be applied to the specific purchase transaction which is actually being refunded but has not yet appeared on a statement or will it be applied to the previous statement balance? In this case that would mean the refund being applied to the 0% balance, as there is nothing else it could be applied to.
My guess is it will be the latter and I will find the 0% balance reduced. Any thoughts?
(This question is asked out of curiosity rather than concern. The amount of money involved in this instance is not a significant amount.)
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