Interest charges on credit balance refund!

sarahharding1987

I have received a credit balance refund to my account from some refunded transactions on a previous statement.

As this has been billed as a 'debit' on my account, they are now charging me the 'purchase interest' rates on this transaction; can they do this as it is not actually a new purchase???

[Deleted User]

You won't be charged interest on credits to your account.

phillw

sarahharding1987 said:

I have received a credit balance refund to my account from some refunded transactions on a previous statement.

As this has been billed as a 'debit' on my account, they are now charging me the 'purchase interest' rates on this transaction; can they do this as it is not actually a new purchase???

They can't charge you interest just for refunding you when you were in credit, as this would just leave your balance at 0.00 and you are charged interest on the balance and not the value of purchases.
Either something is very wrong with your credit card provider or you've misunderstood. Without seeing your statements it's difficult to know which it is. You need to phone their customer services and ask them to explain why you appear to have been charged interest. If they say they've made a mistake then ask to make a complaint, otherwise post their explanation here.

TadleyBaggie

Did you request a Money Transfer, which usually has a fee attached? 

sarahharding1987

phillw said:

sarahharding1987 said:

I have received a credit balance refund to my account from some refunded transactions on a previous statement.

As this has been billed as a 'debit' on my account, they are now charging me the 'purchase interest' rates on this transaction; can they do this as it is not actually a new purchase???

They can't charge you interest just for refunding you when you were in credit, as this would just leave your balance at 0.00 and you are charged interest on the balance and not the value of purchases.
Either something is very wrong with your credit card provider or you've misunderstood. Without seeing your statements it's difficult to know which it is. You need to phone their customer services and ask them to explain why you appear to have been charged interest. If they say they've made a mistake then ask to make a complaint, otherwise post their explanation here.

TadleyBaggie said:

Did you request a Money Transfer, which usually has a fee attached? 

Thanks for your replies, i have spoken to the provider and the issue is quite complicated. I have a balance on the card that is at a 0% promotional interest rate and also used the card for purchases. Unfortunately i received a large refund from a company onto my card on a previous statement after i had made a payment to cover the outstanding 'purchase' balance from the previous month. So the 'refund'  credit was deducted from the balance on the promotional rate, even though i had 'unstatemented' I explained this to the credit card provider and they issued a 'credit balance refund' to rectify the problem. However they needed to apply this credit back to the promotional balance amount as it now appears on my account as a purchase hence the interest charges, but every person i speak to at the credit card company just doesn't seem to understand and i'm also very confused if i should be paying interest now??

MallyGirl

It sounds like something better dealt with in writing where you can clearly lay out the steps. No one on the phone is going to be able to hold the necessary detail to give the right advice