credit card refund question

[steveo3002]

say i bought something for £2000 , turns out to be faulty and offered a full refund but ive already paid the bill with cash , will i be left with £2000 avail to spend on the card with no way to get it back to cash or in my bank account?

[Jockman]

Say again?

[steveo3002]

credit card refund , will my credit card hold onto that £2000 so im + £2000 in the green , no way to turn it back into cash for free?

[KTF]

If you pay 2k on the card and get 2k back in cash, the 2k cash will be needed to pay the 2k card bill so it all balances out and you end up with zero.

In reality, if you pay by card, the refund goes back on the card.

[UpTheIron]

I think situation for the OP is as follows:

- irregular credit card user (i.e. £2k isn't an every day / every month spend on this card)
- OP has purchased an item for £2k, paid for on the card
- OP has paid the credit card bill in full
- item has since developed a fault and has been returned to supplier, who have agreed to refund
- refund has been (will be?) made to the credit card

This leaves the OP with a credit balance of £2k on his credit card, that he would ideally like back in his bank account where it came from in the first place. Obviously this cannot be withdrawn as "cash" from the credit card as it will attract all sorts of fees.

OP, I would speak to your credit card company and explain the situation, see what they say. Failing that, be prepared to use your credit card for all day to day expenses for a while.

[steveo3002]

UpTheIron said:

I think situation for the OP is as follows:

- irregular credit card user (i.e. £2k isn't an every day / every month spend on this card)
- OP has purchased an item for £2k, paid for on the card
- OP has paid the credit card bill in full
- item has since developed a fault and has been returned to supplier, who have agreed to refund
- refund has been (will be?) made to the credit card

This leaves the OP with a credit balance of £2k on his credit card, that he would ideally like back in his bank account where it came from in the first place. Obviously this cannot be withdrawn as "cash" from the credit card as it will attract all sorts of fees.

OP, I would speak to your credit card company and explain the situation, see what they say. Failing that, be prepared to use your credit card for all day to day expenses for a while.

yes thats it ...so kinda stuck on the card , and i will have spend it in odds n sods where i might have used cash /other

[Jockman]

UpTheIron said:

I think situation for the OP is as follows:

- irregular credit card user (i.e. £2k isn't an every day / every month spend on this card)
- OP has purchased an item for £2k, paid for on the card
- OP has paid the credit card bill in full
- item has since developed a fault and has been returned to supplier, who have agreed to refund
- refund has been (will be?) made to the credit card

This leaves the OP with a credit balance of £2k on his credit card, that he would ideally like back in his bank account where it came from in the first place. Obviously this cannot be withdrawn as "cash" from the credit card as it will attract all sorts of fees.

OP, I would speak to your credit card company and explain the situation, see what they say. Failing that, be prepared to use your credit card for all day to day expenses for a while.

Gotcha.

OP, see what everyday bills will accept CC payment? Water bills do. IIRC Council tax does. Anything you >may< not have on DD.

[Sir Bagalot]

Or you could call the CC Co and ask them to send you by BACS or cheque the credit balance.

Simples.

Used to do it all the time when I was a CC tart in the days of fee free balance transfers and 9 months interest free.

[RichS]

Sir Bagalot said:

Or you could call the CC Co and ask them to send you by BACS or cheque the credit balance.

Simples.

Used to do it all the time when I was a CC tart in the days of fee free balance transfers and 9 months interest free.

Yes I used to be able to do this, think you still can. They might be a bit funny about money laundering these days, so just check.

[Ozzie Osmond]

I had a refund to my credit card which wiped out any liability to make a payment in the month. In other words, there was a positive balance carried over the month end after my expenditure in the month, so I didn't need to make any payment. Credit card company wrote and warned me my credit score might be affected for "failing to make a minimum payment in the month". Muppets.