Credit Card Refund Question

Hello TW,

I have a banking quandary so I have come to tacoma world to solve it! So, I recently payed off my credit card, so now it has a $0.00 balance. I am due in a week or so to get a refund on some stuff I bought for around 600 bucks. How does that work? How can they refund me money on my credit card, if it is completely paid off? Will I have extra credit card limit until I spend 600 dollars on it?

Thanks, I know ya'll will come through.

 

They will give you a $600 credit

 

Yah it will just give you a 600 dollar credit, Im sure if you wanted they would be someway to get the 600 dollars in a check but im not sure how that completely works with your credit card company.

 

So lets assume my credit card limit is $10,000. If my balance after I payed it off is $0.00 and I receive a $600 credit, what will my statement say?

 

you can spend $600 without owing any money.

so it should say amount due: ($600)

 

Probably the place that refunded you and it will be a credit of 600. instead of a purchase. Then youre credit limit will say 10,600.

 

Ah ok thats what I was looking for, thank you very much. Jeez thats weird.

 

Youre credit limit wont be $10600. You will just be able to spend $600 without owing anything.

 

Yah hes right, Sorry for the incorrect answer.

 

Hmm... I feel that my bank statement should reflect this somehow, seeing as I would have no proof otherwise. Well either way thanks guys, I was just worried they wouldn't be able to give it to me.

 

Haha no worries I thought the same thing before as well.

 

It will show a credit balance but won't affect your credit limit. Some credit card banks will send a check if the balance stays on the card for more than a couple of months. You could also call the credit card bank and have them send you a refund check.

 

Call and ask. Had to do this my old bank sent two payments instead of one to the CC. They said I had to wait a few days for it to clear then I could request a check. I ended up needing to make a large purchase and in the end just used the CC for it.

 

They will not sent you a refund check, their business is to make money, they keep your money so they can charge you the fee(s). if you have $10,000. and all paid off, and you have $600 refunds. When your statement come it would say -$600.00 ( that meant the bank owned you)

 

Yes they will. I've done it multiple times.

 

You can call and request a refund check, I got one from Citibank last week...

Howard