Are returns factored into minimum payment?

Duncanrr · ‎12-27-2012

Im curious, not worried about it as I try to always PIF but curious, if I have a returned item that I got on credit card prior to statement cut and I returned it after statement generates does the credit to my account on the return count towards the minimum payment?

For example: Buy item $1000 on 12/23. Statement generates on 12/28 showing $2000 balance (of which $1000 is from the item bought on 12/23) with minimum payment of $200. Item is returned and credit on card is reimbursed on 1/7. Say the due date is 1/25 and at that time card shows a $1000 balance. Did the returned item count as the cards minimum payment?

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pdog661 · ‎12-27-2012

It would only eliminate the min payment if the credit zero'ed the account balance. If you have any form of a balance a payment is required monthly from the person who holds the card.

john398 · ‎12-27-2012

think it depends on the issuer, my credit union changes the minium payment on a return item though

Duncanrr · ‎12-27-2012

Thanks for responses. All the Christmas gift giving and people talking about returning and/or exchanging items got me to thinking about this.

Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750
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jsickz32 · ‎12-27-2012

From personal experience its doesnt unless the return zeros the balance...also credit statements from rewards dont count as min payment.

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MovingForward_2012 · ‎12-27-2012

Usually it doesn't eliminate the min payment. My rewards can be cashed in to bring my balance down, but if there is still a balance at statement time, I have to pay it.

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Wolf3 · ‎12-27-2012

On a smiliar note. Does anyone count cash rewards as minimum payment? Capital One does not.

pdog661 · ‎12-27-2012

I dont think any do.

Per the card member agreement you are subject to a minium fee if any balance is due on the card. Card companies require a physical payment from the cardholder.

creditnocash · ‎12-27-2012

You have a 200 min payment? Ouch. I've never had more then 30..

But yes unless a new statement generates your min payment is still the same

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trumpet-205 · ‎12-27-2012

Return shows up like adjustment, similar to statement credit. It does not count as a payment unless it zeros out your balance.