Refund and payment
I bought something with my credit and returned the same after a few days. The amount was credited after the credit card bill generation.
Do I have to pay the full credit card amount, and it will be adjusted in my November bill, or shall I deduct the amount and pay the bill?
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You should clear all dues. As refund are not adjusted against total amount due. I faced this issue once and in CIBIL it was showing as late payment
Got it! Thank you
Refunds are now adjusted against TAD. RBI issued guidelines on this some months back. If this happened to you recently, file a complaint with the RBI Ombudsman.
@TheWonderWoman it depends on when it was settled by your CC provider.
By what you’re saying. You will still have to pay the amount. It will be adjusted in the next billing cycle.
Call your credit card customer support they can guide you better. Some banks adjust while some don't. Last time it happened to me with Sbi, cc told to pay min amount due (not total) and it will be taken care of. Also with respect to the latest Rbi guidelines now credit card companies have to adjust any refunds against total due
You can deduct the amount and pay the bill if you are sure that it has been credited back. I've done this every now and then. Your credit card doesn't care from where the money is coming. If it's coming after bill generation, it's treated as a part of bill payment.