Credit card - refund from retailer. how does this work?

firehawk · 11 Dec 2012 at 13:58

Sorry, im not used to this sort of stuff.

So I have a credit card. I bought a phone with it and then returned it for a refund.
Obviously, I then had my credit card statement which I paid off with my debit card. That includes the phone payment from the retailer.
The retailer has refunded my credit card.... so, will that ever go back to my back account?

Nexus · 11 Dec 2012 at 14:00

If you don't have any other debt on the card currently, your account will go into credit, meaning you will be £200+ for example. If you have purchases currently on your card, then it will just remove that £200 from the next statement.

firehawk · 11 Dec 2012 at 14:03

ah, i see. thanks for that.
i dont see any other purchases apart from the odd one or two which are less than <£30 but i dont see the rest refunded to my bank account

dfarrall · 11 Dec 2012 at 14:05

It will go back to your credit card.. were else would it go? :?

firehawk · 11 Dec 2012 at 14:06

um back to my account since I paid off the credit card and I am getting a refund?

shine · 11 Dec 2012 at 14:09

firehawk said:
um back to my account since I paid off the credit card and I am getting a refund?

The refund will go to your credit card - see Nexus's explanation.

Nexus said:
If you don't have any other debt on the card currently, your account will go into credit, meaning you will be £200+ for example. If you have purchases currently on your card, then it will just remove that £200 from the next statement.

Nexus · 11 Dec 2012 at 14:29

Reason you might not see it yet could be for a few reasons...

- Not been processed yet by retailer.
- It can sometimes take a while to show up on your current statement.
- It might be retailer which uses credit as part of their agreement, and thus have refunded it to your account, so you are in credit with them, rather than your credit card company. For example a catalogue shop, somebody like Next may do that.

ci_newman · 11 Dec 2012 at 14:33

IIRC there is no way to transfer POSTIVE amounts from a credit card into your current account - you have to spend it.

Martynt74 · 11 Dec 2012 at 14:35

ci_newman said:
IIRC there is no way to transfer POSTIVE amounts from a credit card into your current account - you have to spend it.

Yep, just buy a few things on your credit card instead of your debit card to use up the balance.

platypus · 11 Dec 2012 at 14:45

Some even charge for having a positive balance.

Nexus · 11 Dec 2012 at 15:00

platypus said:
Some even charge for having a positive balance.

I've seen people say that a few times before, but never seen it. Which banks do it, are you aware?

I've only been in positive balance a few times, but I wonder whether its possible to just make a cash withdrawal to take it back, rather than having to spend on the card.

tom_e · 11 Dec 2012 at 15:02

I had a positive balance on a natwest credit card, I closed the account and they sent me a cheque for the balance.

AshD93 · 11 Dec 2012 at 15:30

Nexus said:
I've seen people say that a few times before, but never seen it. Which banks do it, are you aware?

I've only been in positive balance a few times, but I wonder whether its possible to just make a cash withdrawal to take it back, rather than having to spend on the card.

Most will charge you exactly the same as a normal cash advance but will dependant on the company.

platypus · 11 Dec 2012 at 15:49

Nexus said:
I've seen people say that a few times before, but never seen it. Which banks do it, are you aware?

I've only been in positive balance a few times, but I wonder whether its possible to just make a cash withdrawal to take it back, rather than having to spend on the card.

I remember applying for a Halifax 0% abroad card in the past and then cancelling the application when I saw this in the terms and conditions.

mattyprice4004 · 11 Dec 2012 at 15:51

firehawk said:
um back to my account since I paid off the credit card and I am getting a refund?

Yes, but how would the retailer know you'd paid off the credit card, or how would the credit card company know to move it to the bank?

Logic says it'll end up back on the card.

Jez · 11 Dec 2012 at 15:58

platypus said:
Some even charge for having a positive balance.

Do any actually do this? I have never heard of this and am pretty #upthere with credit.

jamief · 11 Dec 2012 at 16:03

ci_newman said:
IIRC there is no way to transfer POSTIVE amounts from a credit card into your current account - you have to spend it.

Of course there is! Every single provider allows you to transfer credit to your bank account. Some charge a small fee to do this electronically, most will post you a cheque for free.