Here's a naive cc question... if you get a refund for return of a pricey item posted to your account AFTER being hit by a monthly bill for that and other items... do you pay it all anyway in order to avoid interest charges? If just paying the lesser outstanding balance, that would be changeable over time. Thx, and remember to check your free annual credit reports.
posted to your account AFTER being hit by a monthly bill for that and other items... do you pay it all anyway in order to avoid interest charges? If just paying the lesser outstanding balance, that would be changeable over time. Thx, and remember to check your free annual credit reports.
In most cases, it takes a call. Years ago, I saw such a credit hit, took it off the balance due, and was hit with interest. I called the card company, walked them through what I did, got the interest reversed, but they said the system didn't treat the credit as toward the bill as I expected. Had it been the only item, I'd have been good, but it was the regular card and there were new charges. This was my experience with one card, when in doubt, make the call.
You mean
This isn't your exact situation, but it's pretty close. I have noticed the following behavior from both Chase and American Express.
I have my credit cards on auto pay. They draft the full statement amount from my checking account on the due date. If I return a purchase after the billing date, but before the due date, they subtract the refunded amount from what they draft from my checking account. I notice when this happens because I enter the full statement amount in Quicken when the bill arrives. Then when the due date comes around, the amount is sometimes less and Quicken doesn't match the transaction.
--Bill
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