Anyone know about credit cards? Refund after statement?

[CreditMunkah]

Have rang credit card company twice to ask and they just don't understand what I'm asking.

Its my first credit card, taken out for credit building purposes, it has high interest as I have poor credit.

So I absolutely want to pay the full amount each month.

I aimed to spend £100 a month.

I spent £100 but the item was faulty and had to be returned. So I posted it back, expecting to be refunded within a fortnight.

So spent another £50 on the card so I had something to pay off, as a refund doesn't count towards a successful payment.

However Evri lost my return 😑 So I've been battling to get a refund.

Which will hopefully be issued tomorrow, and recieved within 4 to 5 days.

But because of the delay my monthly statement has already been generated, stating my balance for the month is the £100 of the returned item plus the £50 from the 2nd item.

Due to be paid April 6th.

Ive asked them if the refund is issued before April 6th when payment is due, will it go down to just £50 or will I still have to pay £150 because the statement has already been generated?

They just keep telling me to make the £5 minimum payment but I don't want to do that as it's 35% APR and my plan was never to pay a penny interest as i would always make full payment

I bloody hate Evri!

The refund will count as part payment as if you had paid it and then you pay the £50, youll be able to see on your app that you have nothing else to pay.

Credit cards are great if used correctly, look into Money saving Expert and other financial places that offer free 'training' so you don't get in a muddle.

If you've set it up that it will automatically take the statement amount then if paid well before your normal direct debit date it normally cancels it, but if you clear it closer to the date it may take the direct debit too as there needs to be some 'admin' time. Personally although I have a direct debit set up to clear the balance each month I normally clear it manually before hand.

If you end up clearing too much the surplus won't disappear you'll just be in credit.

Well it's not my muddle, it's evris. I'm not using it incorrectly, I'm making a purchase each month I can afford to pay back in full so as not to incur charges or interest.

If they didn't lose my parcel the refund would have hit weeks ago and my balance would be £50.

I now now not to purchase anything from a company that uses Evri for returns. I'll use it for instore shopping instead.

Thankyou for the advice on the DD.

I don't have it set up yet because of the lost parcel kerfuffle but will set it up for April.

It is your muddle. Your creditor doesn't care who let you down. You trusted someone to do something, and they didn't do it. That's your mistake, not your creditor's.

Yes it's my mistake that someone at Evri stole my item.

🙄

I'm not asking who's at fault.

I was just asking what happens when a refund is issued after a statement.

I can pay the 150 no problem.

It's not a financial issue, just practicality.

To be safe I'd just pay the full statement amount then be in credit next month.

Yes, I think I'll do this. The guy said it can be credited back to my debit card, so safest bet.

Thankyou.

I was just asking what happens when a refund is issued after a statement

The money that is in your account at any given time will be the money that is counted as being in your account at that time. The statement needs to be paid according to what the statement says. How is this hard? There is no crossover. The statement tells you what you need to know, and anything that happens after it will be on the next statement.

Unless your statements claim to see into the future, and that you will still owe money on a date that hasn't happened yet?

The statement that you need to pay on 6th isn't a statement of the 6th. It is a historical statement, telling you what you have to pay, because of what has already happened. You don't get to rectify it, you just get time to pay it.

Thanks for the eye roll. A defensive posture won't get you any answers. I responded to you saying 'It's not my muddle, it's Evri's', by pointing out that it is your muddle. Because it is. Evri aren't posting here, confused: you are.

Well I've just been told, by the CC company, that if the refund is issued after the statement but before the payment day then no, I won't have to pay that, that will be refunded and I pay the remaining difference.

So... There is a crossover, obviously.

Winner.

Are you able to check your Credit card balance online just before you are due to pay it? I pay my CC off in full every month but only ever pay the statement amount minus any refunds or interim payments I might have made before the due payment date. I've never paid any interest.
(I sometimes make interim payments if I've used my card to book group holidays/activities and friends have sent me their share to my bank account. I move the money to the CC straight away so I don't spend it!)

No you still owe the credit card the £150 as per statement
When you get the £100 back it will go on as credit and be included as next month's balance

If you get refunded then you'd only need to pay the £50 regardless of what the statement says. Do you have an app that shows an up to date balance?

Yes.

They said once the refund is issued the online balance will change to £50 to reflect that.

They basically said ignore the statement and just check the online balance once refund comes through.

Then I just pay that.

No she won't if the £100 gets credited before her payment due date. She would only still owe the £150 if she hasn't had the refund by 6th April. If she gets refunded before April 6th then she should only need to pay £50 to her card

Pay the £150 - refunds don't count as a payment unfortunately. The when you get your refund sorted you can either ask them to tfr from your cc to bank acc or just leave it there and spend it that way

Her £50 will count as a payment if she ends up getting her £100 refunded. The credit card company may have told you to make a minimum payment in the meantime so you don't get a late payment charge. It doesn't mean you can't make another payment before the due date on the bill.

No the £100 refund will not count as a payment but I will then pay the £50 remaining and then the balance will be zero going into the new month.

Yeah as PP say, as long as you pay the minimum before the payment due date you won’t get a late payment marker on your credit file.

If you are confident that the refund will be processed to your card in time, pay the difference between your balance and the refund

This is exactly what I do. No interest paid here either.

It appears that one poster is being very aggressively wrong about it, however. Which is a bit unnecessary really!

What a fuss about nothing. The guy even told you this yet you still made a thread about it.

He told her after she started the thread.

Why are people getting so het up towards to OP?! Bizarre behaviour.

That wasn't what I was asking though. Why would I pay £100 off I didn't need to then faff about getting it refunded to my bank account. After I've already had to faff about for weeks with the company and Evri to get it refunded from them because the item went missing!

Simply finding out if it cancels itself out is much simpler.

And you think it's such a fuss about nothing and not worth typing about..
Yet you still took time to type out reply to the thread 😂

Pot, kettle, black?

Pay £150 in order to avoid incurring interest. Next month you'll only need to pay £50 rather than £100.

Is a full moon coming on? Seems to be like this all over today!