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  • FIRST POST
    • pursuitofmoney
    • By pursuitofmoney 8th Jul 18, 8:52 PM
    • 30Posts
    • 5Thanks
    pursuitofmoney
    Credit Card and Refunds
    • #1
    • 8th Jul 18, 8:52 PM
    Credit Card and Refunds 8th Jul 18 at 8:52 PM
    Hi guys,

    so basically my credit card statement has come through for just over 102. I'm returning an item to the shop which cost 50.

    i have already spent on my CC since the last statement 150

    my question is in order for me not to get charged interest, Will I have to pay the total statement balance of 102, or can I just pay 52 and the refund takes care of the rest.
Page 1
    • zx81
    • By zx81 8th Jul 18, 8:55 PM
    • 19,353 Posts
    • 20,673 Thanks
    zx81
    • #2
    • 8th Jul 18, 8:55 PM
    • #2
    • 8th Jul 18, 8:55 PM
    So basically it depends on the card that you have.

    Check the terms that came with it.
    • jonesMUFCforever
    • By jonesMUFCforever 8th Jul 18, 10:31 PM
    • 25,312 Posts
    • 12,543 Thanks
    jonesMUFCforever
    • #3
    • 8th Jul 18, 10:31 PM
    • #3
    • 8th Jul 18, 10:31 PM
    I would pay the full STATEMENT balance before the due date - the refund will mean you will have less to pay next month.
    What goes around - comes around
    give lots and you will always receive lots
    • tempus_fugit
    • By tempus_fugit 8th Jul 18, 11:00 PM
    • 523 Posts
    • 466 Thanks
    tempus_fugit
    • #4
    • 8th Jul 18, 11:00 PM
    • #4
    • 8th Jul 18, 11:00 PM
    As ZX81 says it depends on the terms and conditions of the card. For example, with my Santander 123 card anything that gets paid into the account since the statement, including refunds, counts as payment towards that statement. If these terms apply to your card you could pay the 52.

    Another card I have is changing their terms and conditions, and are now saying that refunds would not reduce the statement amount. So in that case you would have to pay the 102.

    It would pay to check your T&Cs closely, and if in doubt pay the 102 to be on the safe side.
    Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.
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