@Anonymous wrote:@Back in early January. I got an email from Capital One about a large $900 purchase on my acct. It asked me to call them, I did. My accout before this $900 charge was @ $0.00 as I always PIF.
It was a fraud charge from the UK for an online order. Fraud team assured me I was covered and canceled the card. The said they would process a credit to the account and I would recieve my new card in 5-7 days. No problem.
A couple of days later I check my account.
Capital one credited my account (like they said they would) to bring the account back to $0.00 because the charge DID post.
BUTTTTTT 2 days later the merchant ALSO credited my account?? So now my account for almost 2 months has been NEGATIVE $900. This means that as I continue to make purchases I CANNOT pay them because my accout is negative. They say I dont owe them any money.
BTW a week after the incident captiol one sent me a letter stating my fraud case was closed and apologized for the inconvience.
I called twice and they say I over paid them.....**bleep**.
I just chatted with them and explained the situation as well and he told me he is sending me a REFUND CHECK for $900 to my address on file so I can make payments online. He said I cannot pay online due to over payment of my account?!?!?!!?
WTH!!!
It's been a while, but I've had to deal with similar situations a couple of times, each with different issuers, and it was handled slightly different each time as well. In my case it was a mostly 'manual' process, but at the end of the day everything came out correct.
I suspect at some point the U.K. merchant will realize that after they issued a credit/refund of the amount they got a charge back as well, when it should have been one or the other (of course, the refund is cheaper for the merchant, so they'll likely fight the chargeback on that premise). If it were a lower dollar amount I could see it simply being 'written off' either by the merchant or Capital One, but for $900 I kind of doubt they will simply 'let it go'.
If it were me, I would go ahead and cash the check, but just keep the money separate (and available). If/when the merchant realizes they are out the money twice (once from the refund, once from the Capital One chargeback) they will most likely contest the chargeback, and they will provide proof that they have refunded the money. At that point, Capital One will give you a chance to 'contest' this - in my own case I was mailed a detailed letter - and you can either provide evidence that you are still due the chargeback (which in this case you agree you aren't) or you can let them cancel it. Once it's canceled, the chargeback will be effectively 'undone' and the amount should be reflected on your new account number (which is really the same account, just with a different number).
I agree that it would be easier if Capital One would simply fix it for you now, but if the process is similar to what I experienced it's still got a lot of manual steps. As long as you still have the funds on hand you'll be able to put it back on the card if (when) the time comes.
Ideally, you could have simply allowed the funds to remain on the account. I know this was causing a problem with Capital One's billpay, but if you are able to use your checking account's bill pay to make your payment that could have been avoided (they will accept a payment on an account with credit balance if the payment is 'pushed'). Being issued a credit balance refund isn't a problem, though, as long as you are able to 'keep up' with the funds in the interim.
I know this seems like a 'mess', but it's not that bad, and in the end it will all work out the way it should. In my case, at the time my credit limit was low, and the fraud caused my card to be declined (that's how I realized there was fraud) which was worse than dealing with the paperwork of the fraud itself. 
Side note: Since there are so many 'moving parts' to this process, there's always the small chance Capital One will 'drop the ball' and/or simply write off the amount as well. It's not likely (again, due to the amount) but my fingers are crossed for you! 
Edit: typo