Question : How does getting credit back on your credit card work?
Let's say I buy something for $100. I return it and they say I will have that credit back on my credit card. So now my credit card balance is $100? What if I paid for that $100 already and then returned it and got credit back? Can a credit card have a balance and have money withdrawn from it?
- asked by Dr. Bass, M.D, Ph.D
All Answers:
Answer #1
when you are returning something and it's beingrefunded back to your credit-card, it wouldusually takes 2-5days till you see that creditback on your credit-card statement.you can callyour credit card company and ask them to refundyou the balance amount on your credit-card bysending you a check of that amount, that isusually isn't a problem. Just tell them youoverpaid.
- answered by Ruthie S
Answer #2
When one refers to a balance on a credit creditcard that typically means that is what is owed tothe credit card. When one has a credit, that is apayment towards the balance (or could be extramoney paid to the card if the balance was at 0 andmoney was credited back to the account). If youbought something for $100 then your balance onyour credit card would be $100. If you alreadymade a $100 payment on your credit card balance,the balance will be $0. And if you get that $100credit back, then you will have a $100 credit onyour account (basically money that the credit cardcompany owes you).
- answered by CrackBerry Addict
Answer #3
Yes. The retailer will credit back the $100 ontoyour account. If you already paid it, you'll havea postive balance.
- answered by bud68
Answer #4
I have to agree to what the other answererssaid...You bought something $100.00You paid thebill of $100..leaving your card at $0You returnthe item now you have a -$100 which is acredit...so you have extra money that can berefunded to you by the credit card company OR youcan just have them apply it to your nextpurchases....so say you bought something for$150....because you have that credit of $100 fromthe item you returned you only have to pay $50...
- answered by K.C.
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