Credit Card Question:

Nutdotnet

Diamond Member
Dec 5, 2000
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Scenario:

Person uses credit card to purchase item. Item is only purchase on credit card. Person then proceeds to pay-off item amount, resulting in the amount owed on credit to be $0. Person than decides to return item to store for refund.

How does this work? Obviously, the store will credit the card that was used in the purchase, but, since the credit card has a $0 balance, it's not like the amount is going to affect the balance on the card any. Does the credit card company issue a check to the holder? Does it result in a credit on the card in the amount of the purchase?

 

EKKC

Diamond Member
May 31, 2005
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the amount will be credit on your account
it will be negative balance (meaning the owe you money) and whatever you buy next will be using that available fund, so if you have -500 after returning said item, and you spend 600, you pay 100 on next bill

if you do not use it, some banks (see terms of your card) may credit you in check form after a specified period of time, i've had $30 credit in a rarely used card and they cut me a check automatically without me requesting it after 3 months, I think...
 

Nutdotnet

Diamond Member
Dec 5, 2000
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Originally posted by: EKKC
the amount will be credit on your account
it will be negative balance (meaning the owe you money) and whatever you buy next will be using that available fund, so if you have -500 after returning said item, and you spend 600, you pay 100 on next bill

if you do not use it, some banks (see terms of your card) may credit you in check form after a specified period of time, i've had $30 credit in a rarely used card and they cut me a check automatically without me requesting it after 3 months, I think...

Ahh, so to clarify:

Credit Card purchase was, say, $2,000. If the amount is paid-off and then the purchase was returned, there would be a $2,000 "positive balance" on the card?
 

DeviousTrap

Diamond Member
Jul 19, 2002
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Originally posted by: Vincent
Some credit cards will issue you a refund check.

If they don't you can call and request a check.

I overpaid a balance on an account once by a couple of cents and they sent me a check for 3 cents.
 

Maximus96

Diamond Member
Nov 9, 2000
5,388
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Originally posted by: Nutdotnet
Originally posted by: EKKC
the amount will be credit on your account
it will be negative balance (meaning the owe you money) and whatever you buy next will be using that available fund, so if you have -500 after returning said item, and you spend 600, you pay 100 on next bill

if you do not use it, some banks (see terms of your card) may credit you in check form after a specified period of time, i've had $30 credit in a rarely used card and they cut me a check automatically without me requesting it after 3 months, I think...

Ahh, so to clarify:

Credit Card purchase was, say, $2,000. If the amount is paid-off and then the purchase was returned, there would be a $2,000 "positive balance" on the card?

positive balance is what you owe them, negative balance is what they owe you...just to clarify.
 

Nutdotnet

Diamond Member
Dec 5, 2000
7,721
3
81
Originally posted by: Maximus96
Originally posted by: Nutdotnet
Originally posted by: EKKC
the amount will be credit on your account
it will be negative balance (meaning the owe you money) and whatever you buy next will be using that available fund, so if you have -500 after returning said item, and you spend 600, you pay 100 on next bill

if you do not use it, some banks (see terms of your card) may credit you in check form after a specified period of time, i've had $30 credit in a rarely used card and they cut me a check automatically without me requesting it after 3 months, I think...

Ahh, so to clarify:

Credit Card purchase was, say, $2,000. If the amount is paid-off and then the purchase was returned, there would be a $2,000 "positive balance" on the card?

positive balance is what you owe them, negative balance is what they owe you...just to clarify.

Ok, got it.

Thanks guys!