Bankwest Forum

Ask a new question
Reply
New Member

Does a refund on my credit card count as a payment?

Posted by mmteb1 mmteb1
Message 1 of 2 183 Views

Hi there, 

 

I have received a refund for a purchase I made on my credit card. I have received the refund after the credit card statement was issued. Does this refund count as a credit card repayment? Or do I still have to pay off the full statement balance on top of the refund amount so that I do not incur any interest?

 

If I still have to pay the balance on top of the amount already refunded, my credit card balance would actually go into a positive balance e.g. say my credit card limit is $5,000, after repaying the statement plus the refund, my limit will now be $6,000 as I have repaid more than the balance of the credit card. This would not make sense? Is there a way I can get the refund to be considered as a repayment?

Reply
0 Kudos
Moderator

Re: Does a refund on my credit card count as a payment?

Posted by DanaeC DanaeC
Message 2 of 2 173 Views

Hi @mmteb1, thanks for your enquiry.

Even if a refund is made to your account within the statement payment period, it would not count as a payment to the balance I'm sorry. This is because only customer initiated payments are accepted, as outlined in the Credit Card Conditions of Use booklet.

The good news is, any extra/surplus above your Credit Card limit can then be used for purchases, free of any accruing interest.

Thank you.

Reply
0 Kudos
Ask a new question
Top kudoed contributors

Bankwest SWIFT code: BKWAAU6P | Find your BSB by logging into Online Banking
© 2017 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.