New to CCs. Quick question.

Yorkie77_2

Hello, I'm new to posting here but have used this site to save hundreds of pounds this year.I am looking at getting my first credit card (either egg or American Express casbacks), and have a quick question.I do most of my shopping at Tesco (this question applies to any refund really), if I buy an item and then choose to return it under the no quibble policy, what happens with the refund?Where does the refunded money go?This is most likely a simple question, but I'd just like to know. As am sure you kindly money saving folk can help.

jimbo26

Any refund will go back onto the credit card you used to make the purchase.

Yorkie77_2

jimbo26 wrote: »

Any refund will go back onto the credit card you used to make the purchase.

Ok, but where does the money 'go'? Is it debited to my bank account or just removed from the cc statement?

jimbo26

As I said it credits your credit card account.

CLAPTON

if you haven't already got a CC then is relatively unlikely you will get a cashback card as they tend to go to people with proven credit histories and so already have CCs.

refunds generally are credited back to the source... so if you pay by CC then the refund will go back to the CC. ( this usually takes a few days)

so it would not be possible to buy say 2000 worth of plasma TV, benefit from the cashback and then get a refund of the 2000 as the cashback would be cancelled too.

Yorkie77_2

CLAPTON wrote: »

if you haven't already got a CC then is relatively unlikely you will get a cashback card as they tend to go to people with proven credit histories and so already have CCs.

refunds generally are credited back to the source... so if you pay by CC then the refund will go back to the CC. ( this usually takes a few days)

so it would not be possible to buy say 2000 worth of plasma TV, benefit from the cashback and then get a refund of the 2000 as the cashback would be cancelled too.

Ok, thanks. I'll apply anyway. It wasn't to get the cashback! I was just curious as to how that aspect of the card works.Thank you for the quick replies.