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Chargeback
Dilemma1951
Posts: 5 Forumite
in Credit cards
Hi. M&S Mastercard issue. They have credited my account with the disputed amount. £14k. Covid cancelled holiday. They refuse to transfer it to my Current Account for 60 days. Agent told me on phone I can spend it on the card but not actually have it back for that length of time!! I can't close the account whilst there is a dispute in progress. Assistance out of this predicament welcome.
0
Comments
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Reimbursement under chargeback is usually provisional while the merchant is given the opportunity to challenge it (typically 45 days), so it seems reasonable to me that while that process happens, a credit balance refund can't be issued or the account closed.2
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^^^^this.
Imagine if they refunded it to you and then the merchant challenged it, you would end up with a credit card debt of £14k, in the meantime you could have put a dent in it and would be unable to pay it back on.
Wait the 60 days. Why are you in a rush to close the account? That doesnt change the timescales given to the merchant.0
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