What will Discover do?

[Junejer]

I made a large purchase on my Discover card and returned the product. They are going to credit back to my card. Currently, my balance is $0. Will Discover send me a check or will they allow the account to remain at a -$2k-ish balance?

[Cowboys4Life]

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@Junejer wrote:

I made a large purchase on my Discover card and returned the product. They are going to credit back to my card. Currently, my balance is $0. Will Discover send me a check or will they allow the account to remain at a -$2k-ish balance?

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I had a similar situation.  I had paid for a cruise that was covid cancelled and it was put back to my Discover card.  Would have left me with over a $4k credit.  They will do which ever you choose.  If you do nothing it stays as a credit and they simply deduct purchases from the balance.  If you call them and opt for a refund they send it by ACH or check.  It takes 7-10 days.  I had no issues getting my money back out of them.

[FinStar]

Once the credit posts to your Discover card, you can have them issue you a credit balance refund. I can't recall if they can ACH the refund amount back to your deposit  account on record or not, but you can definitely have a check issued.

[Aim_High]

From my experience in general, @Junejer, most lenders have a fairly limited time frame that they will allow a credit balance to remain without issuing a refund check.  Typically, I've had checks issued about 90 days after a balance posts if there aren't off-setting new charges.

[Junejer]

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@Cowboys4Life wrote:

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@Junejer wrote:

I made a large purchase on my Discover card and returned the product. They are going to credit back to my card. Currently, my balance is $0. Will Discover send me a check or will they allow the account to remain at a -$2k-ish balance?

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I had a similar situation.  I had paid for a cruise that was covid cancelled and it was put back to my Discover card.  Would have left me with over a $4k credit.  They will do which ever you choose.  If you do nothing it stays as a credit and they simply deduct purchases from the balance.  If you call them and opt for a refund they send it by ACH or check.  It takes 7-10 days.  I had no issues getting my money back out of them.

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Thanks for the information @Cowboys4Life. I appreciate the info.

[Junejer]

Thanks @FinStar. I'll opt for the ACH.

[Junejer]

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@Aim_High wrote:

From my experience in general, @Junejer, most lenders have a fairly limited time frame that they will allow a credit balance to remain without issuing a refund check.  Typically, I've had checks issued about 90 days after a balance posts if there aren't off-setting new charges.

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Thanks @Aim_High! No way that money will be hanging out there for 90 days.