Statement Prints before Refund, what do you pay?

[Anonymous]

I have looked this up, but the results I found seem to be a mismatch of conflicting info.

In about 1-2 days, either the 19th or 20th, my PPMC statement will cut.

I had a charge of $19.89 at a local store that I will be returning but the statement will be processed before I can return and even if I rushed to the store, I doubt the refund would show in time anyway. It seems 3+ days for me at least to ever see a refund.

My question is, what is the best way to pay the bill as I normally pay the entire monthly statement to avoid interest?

I figure my options are, pay the entire statement and let the $19.89 refund as a credit or pay minus the $19.89 but keep $19.89 handy because I believe refunds don't always properly connect to the original charge and could accidentally produce interest.

[randomguy1]

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@Anonymous wrote:

I have looked this up, but the results I found seem to be a mismatch of conflicting info.

In about 1-2 days, either the 19th or 20th, my PPMC statement will cut.

I had a charge of $19.89 at a local store that I will be returning but the statement will be processed before I can return and even if I rushed to the store, I doubt the refund would show in time anyway. It seems 3+ days for me at least to ever see a refund.

My question is, what is the best way to pay the bill as I normally pay the entire monthly statement to avoid interest?

I figure my options are, pay the entire statement and let the $19.89 refund as a credit or pay minus the $19.89 but keep $19.89 handy because I believe refunds don't always properly connect to the original charge and could accidentally produce interest.

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I would pay the whole bill and not even sweat the $19.89 credit I will have on my credit balance. Either at that point I will of spent that amount or I will have a -19.89 balance. Not particular enough to worry about.

[Anonymous]

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@randomguy1 wrote:

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@Anonymous wrote:

I have looked this up, but the results I found seem to be a mismatch of conflicting info.

In about 1-2 days, either the 19th or 20th, my PPMC statement will cut.

I had a charge of $19.89 at a local store that I will be returning but the statement will be processed before I can return and even if I rushed to the store, I doubt the refund would show in time anyway. It seems 3+ days for me at least to ever see a refund.

My question is, what is the best way to pay the bill as I normally pay the entire monthly statement to avoid interest?

I figure my options are, pay the entire statement and let the $19.89 refund as a credit or pay minus the $19.89 but keep $19.89 handy because I believe refunds don't always properly connect to the original charge and could accidentally produce interest.

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I would pay the whole bill and not even sweat the $19.89 credit I will have on my credit balance. Either at that point I will of spent that amount or I will have a -19.89 balance. Not particular enough to worry about.

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Definitely this, a small credit balance has no issues with scoring (or anything else!)   If you don't pay the statement balance by the due date, you do run the risk of interest being charged, even though the credit should come in time to 0 the balance.  Just not worth the risk

[Anonymous]

There should be a couple of weeks at least between statement and due date. You should be able to see online if the refund has processed and changed your balance owing before the due date. And as others have said, it's not a big deal on a card you use regularly if you pay ~20 early

[Anonymous]

I think it depends a lot on the bank, and I don't have any cards with that bank. But my general experience is that the refund is considered a payment and reduces the due-date amount. I have all my cards on auto-pay and they usually adjust the amount (although I remember once that U.S. Bank processed the full statement balance payment after a refund, because the refund came too close to the payment to have time to adjust). So if statement said $100 and I get a $20 refund, my auto-pay will send $80.

The matter should probably be addressed in the fine print of your card agreement, I bet with some digging you could find their written policy.

[HeavenOhio]

The OP says he hasn't even returned the item yet and that he won't be returning it before the statement cuts. He needs to pay.

[staticvoidmain]

This happens to me all the time. I would just pay the statement now. The refund will go towards your next statement. Think of it as a statement credit. 

[Nomad3]

How long do you get to pay the statement? 30 days? You could wait it out and see what happens.

I'm in a similar situation, undeliverable package, return processing after statement. I went ahead and PIF and then bought something else so my account wouldn't be negative.

[Anonymous]

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@Nomad3 wrote:
How long do you get to pay the statement? 30 days? You could wait it out and see what happens.

I'm in a similar situation, undeliverable package, return processing after statement. I went ahead and PIF and then bought something else so my account wouldn't be negative.

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Seems like it gives at least 21 days or so to pay.

I believe I will just PIF because I will need to buy other stuff the same day, so then the refund can basically cover at least part of the other items I am getting that day.

[Anonymous]

It's best to just PIF and have a credit balance towards future purchases, if you plan to use said card again. Which most people do.

Because somewhere in the T&C it says that refunds can take up to 45 days to post as a credit. Being as you haven't even returned the item yet, you're cutting it close already.