Crystal Cox/Business Insider
There are a few key details to know if you’re expecting a refund on your credit card.
When they issue a refund to your account, credit card issuers will first apply the refund to any existing balance. So don’t count on having the full refund amount credited to your account.
If a credit card refund results in a negative account balance, the issuer will either wire the money back to your checking account or send you a check. Alternatively, you could charge additional purchases to the card to bring the balance back up to zero or more.
When you’re entitled to a credit card refund, you won’t be able to keep any points or miles you earned on the refunded purchase. If you use the rewards before the issuer takes them back, your rewards balance could go below zero.
See Business Insider’s list of the best rewards credit cards.
Due to the coronavirus outbreak, many concerts, conferences, and festivals have been rescheduled or postponed. Spring break and summer plans have been put on hold, and travelers have also had to cancel their flights, cruises, and hotel reservations.
While each venue or company usually has a wide range of policies, most companies have been flexible in offering customers a full refund on their purchases. But what happens after companies have issued a refund if you’ve paid with a credit card? See the rest of the story at Business Insider
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