Credit Card and Refunds

pursuitofmoney

Hi guys,

so basically my credit card statement has come through for just over £102. I'm returning an item to the shop which cost £50.

i have already spent on my CC since the last statement £150

my question is in order for me not to get charged interest, Will I have to pay the total statement balance of £102, or can I just pay £52 and the refund takes care of the rest.

[Deleted User]

So basically it depends on the card that you have.

Check the terms that came with it.

jonesMUFCforever

I would pay the full STATEMENT balance before the due date - the refund will mean you will have less to pay next month.

tempus_fugit

As ZX81 says it depends on the terms and conditions of the card. For example, with my Santander 123 card anything that gets paid into the account since the statement, including refunds, counts as payment towards that statement. If these terms apply to your card you could pay the £52.

Another card I have is changing their terms and conditions, and are now saying that refunds would not reduce the statement amount. So in that case you would have to pay the £102.

It would pay to check your T&Cs closely, and if in doubt pay the £102 to be on the safe side.