stupid question refund onto credit card

rainbowtrout

This may be a stupid question but here goes--

I've recently had a refund on a credit card which has brought the balance into the positive. However when I look at the account online it still says I need to make a minimum payment this month, despite the credit card company owing ME money. Is this likely to be an error or don't credit cards allow you to have a positive balance? if so what can I do to get the money off the card?

Thanks

jonesMUFCforever

I think its more of them not wanting you to have a positive balance.
Give them a ring to see if they will refund you by cheque or perhaps even easier - spend it on your normal shopping.
If you have a positive balance then surely your minimum balance repayment will be nil unless there is accrued interest from your previous statement waiting to be passed. If this is the case I would make the minimum payment to prevent a late payment fee (crazy I know!)

YorkshireBoy

rainbowtrout wrote: »

I've recently had a refund on a credit card which has brought the balance into the positive.

Since the statement was produced?

However when I look at the account online...

Are you looking at a copy of the statement that is on it's way to you, or looking at your 'snapshot'?

...it still says I need to make a minimum payment this month...

Do you have a DD set up, or do you make the payments manually?


Which card is it?

Mikeyorks

It's not likely to be an error. Most CCs do not consider a refund to be a (customer) payment.

... so it's always preferable, although not always possible, to try and ensure any refund is in the same period as the associated debit. Thereby simply reducing the amount you have to pay?

rainbowtrout

Thanks for the replies! To clarify these amounts are coming up when I look at them on my online statement. This usually changes quite quickly to reflect my payments. The balance was zero before the refund came in. Looks like the best way is either to ask for a cheque or spend it on next month's shopping...

Mikeyorks

rainbowtrout wrote: »

Looks like the best way is either to ask for a cheque or spend it on next month's shopping...

Do they not pay you interest on a positive account?