cancel
Showing results for 
Search instead for 
Did you mean: 

Returned Purchses on Credit Cards

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Regular Contributor

Returned Purchses on Credit Cards

I’m having $1,567.34 returned to my Chase Freedom Card and Amex Delta. I paid a medical bill I wasn’t supposed to and they are returning me the money. Merry Christmas to me!

Unfortunately they already processed the return otherwise I would’ve asked for a check. How does this affect my points? I’m assuming they will deduct it which is fine. But both cards will be bought to zero and then some.

Does it report a negative balance until I come back even or do they send a check? Will this raise flags?

Also can I use the negative balance to pay off other balances within the same company? Neither purchases were used towards MS. The freedom I purchased $1200 that statement so I should be fine.
Message 1 of 8
7 REPLIES 7
Contributor

Re: Returned Purchses on Credit Cards

Points are refunded/deducted. No free points in this case.

Your account shows a negative balance. Eventually, after 2- 3 bill cycles, they automatically may cut a check if you have no further purchases that go against it. Or if you request it they may send a check for the amount.

I don't think you can easily use it to pay off a different balance. It would take a lot of escalation and hoops to jump through. The easier option would be to request a check of the balance. The timing of that may may depend on the company. Some may cut a check immediately, some may take 30+ days. You'd just have to check with them and see.

Message 2 of 8
Moderator

Re: Returned Purchses on Credit Cards

Basically, if I'm reading your message correctly, if the 2 accounts currently have a $0 balance once those transactions process that will create a credit balance for each card respectively.

Yes, you can definitely use whatever credit balances you end up with toward any future transactions.

More than likely, any rewards you may have earned based on those previous transactions would be deducted from your points balance. Although, there's been some DPs where some folks get lucky and points aren't deducted so YEMV.
Message 3 of 8
Regular Contributor

Re: Returned Purchses on Credit Cards

Can I also request a check?

Yup. All of my balances are zero except for my CSP which has $500 balance.
Message 4 of 8
Moderator

Re: Returned Purchses on Credit Cards


@quantum001 wrote:

Points are refunded/deducted. No free points in this case.

Your account shows a negative balance. Eventually, after 2- 3 bill cycles, they automatically may cut a check if you have no further purchases that go against it. Or if you request it they may send a check for the amount.

I don't think you can easily use it to pay off a different balance. It would take a lot of escalation and hoops to jump through. The easier option would be to request a check of the balance. The timing of that may may depend on the company. Some may cut a check immediately, some may take 30+ days. You'd just have to check with them and see.


If the returns or credits are applied toward the OP's credit cards, once they post, those can be used toward future purchases or transactions.

 

This is assuming that the OP's CCs currently are at $0 or any part thereof where those credits offset any outstanding balances. 

Message 5 of 8
Valued Contributor

Re: Returned Purchses on Credit Cards

Being that lenders in my experience send checks after a period of time, I can't see why you aren't allowed to ask specifically for them to do that, especially when it's more than just a few dollars. I've had checks sent to me for less than that .
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 6 of 8
Moderator

Re: Returned Purchses on Credit Cards


@MJT7665 wrote:
Can I also request a check?

Yup. All of my balances are zero except for my CSP which has $500 balance.

Absolutely.  Once the credits are posted you can call them to request a credit balance refund check.

Message 7 of 8
Regular Contributor

Re: Returned Purchses on Credit Cards

Awesome. Thanks for the advice!

For the Freedom Card I’ll just swipe away. $696 of the total was on the Freedom (at the time it was the FU) so I’ll be out 1,050 UR. No biggie. I’ll leave it as I just PC’d it a week ago and will be actively using it finishing up Department store purchases and I can use chase pay at Shoprite. If Shoprite Liquors take Chase pay then I’ll restock my liquor cabinet. Have been running low on McCallan 18 and the holidays are coming hmmmm.

$888 will be returned to the delta Plat. I’ll ask for a check for that one. I want to upgrade to first class for a trip in a few weeks and want to use my CSP for the better point value. Whatever is left I’ll stash in my rebuilding emergency fund.
Message 8 of 8