Refund to credit card

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Lanzarote1938
Lanzarote1938 Posts: 694 Forumite
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in Credit cards
I have had a £300 refund for returned goods. However this arrived after my monthly statement was generated. I was prepared to pay the full balance as per statement and gradually get the refund spent. However I am not allowed to do this which would give me a credit balance.


I am assured that I will pay no interest even though I am not paying the statement balance in full. Is this correct?

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  • robbo990
    robbo990 Posts: 174 Forumite
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    Interest free period is usually 40-56 days from purchase date depending on the card issuer... Your statement should tell you, it's usually on the back.
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  • Lanzarote1938
    Lanzarote1938 Posts: 694 Forumite
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    robbo990 wrote: »
    Interest free period is usually 40-56 days from purchase date depending on the card issuer... Your statement should tell you, it's usually on the back.


    Well yes but the purchase is on one statement and the refund will not appear until the next one. Which is why I tried to pay the statement balance.
  • Vortigern
    Vortigern Posts: 3,243 Forumite
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    What w as the statement balance?

    If the balance was £400 and your refund £300, you'd just pay £100
  • eco_warrior
    eco_warrior Posts: 563 Forumite
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    Lanzarote1938 wrote: »
    I have had a £300 refund for returned goods. However this arrived after my monthly statement was generated. I was prepared to pay the full balance as per statement and gradually get the refund spent. However I am not allowed to do this which would give me a credit balance.


    I am assured that I will pay no interest even though I am not paying the statement balance in full. Is this correct?


    Yeah if you are refunded £300 then you just need to pay the balance minus £300. You can also pay the balance in full if you want, going into credit is fine. It you left it in credit for a longer period of time the bank might want you to have it transferred out. But if you spend regularly then it wont be flagged.
  • konark
    konark Posts: 1,260 Forumite
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    If you pay online the computer can get quite upset if you try to make a payment that would leave your account in credit by just a few pennies. (this is Barclaycard btw, other cards may be ok)
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