CC Refunds - how do they work?

redredshoes · Jun 2nd, 2008, 07:04 PM

Grr!! MONEY!! What a pain in the ass, except when you are rolling in it. So some weeks ago, I bought a bunch of stuff from revolve, thinking I could send most of it back and it wouldn't show up on the CC bill . . . but it has taken so long to process the return that I am only getting the chargeback this week. Does anyone know if the refund is posted in billing cycle 2 (but before the bill from cycle 1 is due) whether I am still responsible to pay bill 1 and will have a smaller bill 2, or whether that credit will count toward bill 1?

I can't easily call the CC company to find this out, because it's not actually my card -- I charged it to the SO after he accepted an invitation on my behalf for an event I had already declined to go to because, as I mentioned to him, I did not have anything appropriate to wear. But because I told him I thought the returns would be credited back before the end of the billing cycle, he is PISSED, and now apparently it's all my fault. Blah.

Anyway, sorry for the rant, and any advice would be appreciated :)

bnjj · Jun 2nd, 2008, 09:27 PM

You will owe the interest accumulated between bills 1 and 2. If this is the only thing on the card's balance then paying it now and then getting the credit from the merchant will cause it to be paid twice. If this is the case, I would likely just pay the minimum due so as to not have a missed payment on the account. If it is not the only thing on the card's balance, I would just make a normal payment for bill 1 and let the credit show up on bill 2.

elle · Jun 2nd, 2008, 09:27 PM

Which CC company is it? You can have him call them and explain that you returned the items and are expecting a refund. I did this with American Express when I wasn't sure if I was going to be refunded for the airline+hotel reservations I canceled. The Amex rep offered to put those charges on hold/dispute so that I didn't have to pay them on the upcoming statement. Hope that helps!

Blue824 · Jun 3rd, 2008, 02:44 PM

I don't think you'd have to pay if it is credited before the bill is due. I have a Citi card I use the most and I do everything online and when something is credited it goes in my "payment/credits" section and so if the credit comes before the bill is due, I wouldn't have to pay for it... like, it is applied as paid money to my account. But if the bill is due and I haven't received the credit yet, then I have to suck it up and pay for it. Once the credit comes through it would be credited to my next bill.

Hope what I wrote makes sense.

redredshoes · Jun 3rd, 2008, 03:20 PM

Thanks, everyone. Blue824, I hope you're right! I'm going to call the automated info and see if the credit has posted/decreased the balance.

barcreperie · Jun 4th, 2008, 07:12 PM

Assuming that the card is paid off in full each month, but this month you don't pay for the stuff that was sent back, you will not owe interest unless the credit isn't posted until after the payment due date for cycle #1. If the credit is posted after that date, you will owe interest on that amount in the next billing cycle.

Jun 2nd, 2008, 09:27 PM	#2
bnjj ♪ Jovi Junkie ♪ Location: Bon Jovi Blvd.	Re: CC Refunds - how do they work? You will owe the interest accumulated between bills 1 and 2. If this is the only thing on the card's balance then paying it now and then getting the credit from the merchant will cause it to be paid twice. If this is the case, I would likely just pay the minimum due so as to not have a missed payment on the account. If it is not the only thing on the card's balance, I would just make a normal payment for bill 1 and let the credit show up on bill 2. __________________ Last edited by bnjj; Jun 2nd, 2008 at 09:30 PM.

Jun 2nd, 2008, 09:27 PM	#3
elle L Location: CA	Re: CC Refunds - how do they work? Which CC company is it? You can have him call them and explain that you returned the items and are expecting a refund. I did this with American Express when I wasn't sure if I was going to be refunded for the airline+hotel reservations I canceled. The Amex rep offered to put those charges on hold/dispute so that I didn't have to pay them on the upcoming statement. Hope that helps! __________________

Jun 3rd, 2008, 02:44 PM	#4
Blue824 Member Location: Chicago, IL	Re: CC Refunds - how do they work? I don't think you'd have to pay if it is credited before the bill is due. I have a Citi card I use the most and I do everything online and when something is credited it goes in my "payment/credits" section and so if the credit comes before the bill is due, I wouldn't have to pay for it... like, it is applied as paid money to my account. But if the bill is due and I haven't received the credit yet, then I have to suck it up and pay for it. Once the credit comes through it would be credited to my next bill. Hope what I wrote makes sense.

Jun 3rd, 2008, 03:20 PM	#5
redredshoes Member	Re: CC Refunds - how do they work? Thanks, everyone. Blue824, I hope you're right! I'm going to call the automated info and see if the credit has posted/decreased the balance.

Jun 2nd, 2008, 07:04 PM	#1
redredshoes Member	CC Refunds - how do they work? Grr!! MONEY!! What a pain in the ass, except when you are rolling in it. So some weeks ago, I bought a bunch of stuff from revolve, thinking I could send most of it back and it wouldn't show up on the CC bill . . . but it has taken so long to process the return that I am only getting the chargeback this week. Does anyone know if the refund is posted in billing cycle 2 (but before the bill from cycle 1 is due) whether I am still responsible to pay bill 1 and will have a smaller bill 2, or whether that credit will count toward bill 1? I can't easily call the CC company to find this out, because it's not actually my card -- I charged it to the SO after he accepted an invitation on my behalf for an event I had already declined to go to because, as I mentioned to him, I did not have anything appropriate to wear. But because I told him I thought the returns would be credited back before the end of the billing cycle, he is PISSED, and now apparently it's all my fault. Blah. Anyway, sorry for the rant, and any advice would be appreciated :)

Jun 4th, 2008, 07:12 PM	#6
barcreperie Member	Assuming that the card is paid off in full each month, but this month you don't pay for the stuff that was sent back, you will not owe interest unless the credit isn't posted until after the payment due date for cycle #1. If the credit is posted after that date, you will owe interest on that amount in the next billing cycle.