[Traveler]

Originally Posted by aerohit

I have a question please-
I spent 20,000 on CC in March for which my payment is due.
I received statement and outstanding dues details for 20,000.

I received a part refund of 10,000 for 20,000 that I had spent as I had returned the goods purchased. Amount credited back to card.
Do i still need to pay 20000 or can I pay 10,000?
HDFC account summary page still shows that i need to pay 20000.

You will need to pay full. The refund will get credited to your card and will reflect in your next statement.

[Turbanator]

Originally Posted by Traveler

You will need to pay full. The refund will get credited to your card and will reflect in your next statement.

No, I think, the refund is treated as a credit entry the same way payment is credited. As long as the sum total of any refunds+ payments equal to past statement balance, you should be good. But the caveat is that Refund should be visible in the online statement or confirmed explicitly. Future refunds obviously cannot be considered.

[Aroy]

Originally Posted by aerohit

I have a question please-
I spent 20,000 on CC in March for which my payment is due.
I received statement and outstanding dues details for 20,000.

I received a part refund of 10,000 for 20,000 that I had spent as I had returned the goods purchased. Amount credited back to card.
Do i still need to pay 20000 or can I pay 10,000?
HDFC account summary page still shows that i need to pay 20000.

If the refunds are before the billing cycle ends, then statements reflect it. It is when there is a refund after the billing cycle ends and statements are generated that there is a difference. Amex reflects credits accrued after the bill is generated, in my ICICI and HDFC cards they do not account for it. So it is safer to pay up.

You can try the Help Line of the card and explain the situation. Mostly they will accommodate such requests.

[Chetan_Rao]

It depends on the day the transaction (credit in case of a refund) is posted to your account. Some banks explicitly mention that credits and reversals post statement date don't count towards payment due but will be adjusted on account balance in next statement. I vaguely remember reading that on ICICI Bank T&C.

Either way, talk to your card issuer to clarify and act accordingly.

[Jaguar]

Originally Posted by Turbanator

No, I think, the refund is treated as a credit entry the same way payment is credited. As long as the sum total of any refunds+ payments equal to past statement balance, you should be good. But the caveat is that Refund should be visible in the online statement or confirmed explicitly. Future refunds obviously cannot be considered.

Yes, as long as the refund is credited before the due date and the part of payment made by you is greater than the min payment due, it sould be ok.

[HappyWheels]

Originally Posted by Jaguar

Yes, as long as the refund is credited before the due date and the part of payment made by you is greater than the min payment due, it sould be ok.

The key word here is "credited before the due date ".

[sharktale]

I have a Payment related query.

I paid $250 via my HDFC Debit Card for GMAT online exam. The amount was immediately deducted from my bank account.
However, 2 days later, there's another entry of INR 7XX.XX amount as "DC INTL POS MARKUP", which I believe is kind of readjustment of exchange rates.

However, is it not against the policy of debit card transactions? an immediate amount was deducted, why would I have to bear the readjustment costs for any exchange rate difference 2-3 days later?

[libranof1987]

Originally Posted by sharktale

However, is it not against the policy of debit card transactions? an immediate amount was deducted, why would I have to bear the readjustment costs for any exchange rate difference 2-3 days later?

It is the currency conversion service tax; that entry always shows up a few days later from the actual date of transaction.

[binand]

Originally Posted by aerohit

I spent 20,000 on CC in March for which my payment is due.
I received statement and outstanding dues details for 20,000.

I received a part refund of 10,000 for 20,000 that I had spent as I had returned the goods purchased.
Do i still need to pay 20000 or can I pay 10,000?

In general, the amount due from you is the amount shows as "Due" in the card statement. That is what you have to pay (Minimum Due or Total Due).

Originally Posted by Jaguar

Yes, as long as the refund is credited before the due date and the part of payment made by you is greater than the min payment due, it sould be ok.

Originally Posted by Turbanator

No, I think, the refund is treated as a credit entry the same way payment is credited. As long as the sum total of any refunds+ payments equal to past statement balance, you should be good. But the caveat is that Refund should be visible in the online statement or confirmed explicitly. Future refunds obviously cannot be considered.

As far as I know, this is not universally correct. At least one card I have held had language in its T&C which specified that the cardholder has to make a "Payment" and refund transactions are not Payments (in fact, anything not triggered by the cardholder wasn't a Payment).

Originally Posted by sharktale

I paid $250 via my HDFC Debit Card for GMAT online exam. The amount was immediately deducted from my bank account.
However, 2 days later, there's another entry of INR 7XX.XX amount as "DC INTL POS MARKUP", which I believe is kind of readjustment of exchange rates.

This doesn't look like a readjustment. It probably is a forex transaction markup, on which they collect GST. It probably is 2.5% of the original amount charged and might include 18% GST.

[pdma]

Originally Posted by sharktale

Query :

You can convert them to Amazon.in & BookMyShow GVs.
.

Originally Posted by Pancham

I had close to 150000 miles. Encashed them for Amazon and Flipkart vouchers.

Thank You very much, I will check for the vouchers as well.

regards,
Pradeep

[Guite]

Originally Posted by aerohit

I have a question please-
I spent 20,000 on CC in March for which my payment is due.
I received statement and outstanding dues details for 20,000.

I received a part refund of 10,000 for 20,000 that I had spent as I had returned the goods purchased. Amount credited back to card.
Do i still need to pay 20000 or can I pay 10,000?
HDFC account summary page still shows that i need to pay 20000.

Bill amount is Rs 20,000. It is the bill amount on record. When payment is made the software will in all likelihood compare the payment with the bill amount. If it were not the case, every bill payment will have to be compared and adjusted with purchases accrued till date of payment. Any shortfall will attract interest. So in my opinion the total bill amount should be paid. The refund amount will be adjusted in next bill.

[diyguy]

I think the reason for having to pay the full amount as per original bill or pay interest is to avoid a ponzy scheme of payment by refunds or returns. In theory this is possible that I purchase and return products on Amazon to time it to the payment due on my card. Prior to Amazon one could use railway ticket cancelation for the same purpose but one would lose some money in lieu of fee or processing charge. Of course the due amount would keep increasing and would probably max out the card.

Perhaps a banker can shed more light.

I had a situation once when I paid in excess of my card due and my card was in credit rather than a debit balance. On enquiring with the bank if I can withdraw this using the atm, I was told I would incur a cash withdrawal fee and interest on the said amount on my next statement. The only way was to spend the excess amount on card purchases and have it adjusted.

[autorahul]

In Citibank's system, if I pay substracting the cashbacks/refunds from the previous statements, I have never had any issue. I believe you can't substract refund generated from transaction on ongoing cycle, which is obvious.

[rdst_1]

Originally Posted by Guite

Any shortfall will attract interest. So in my opinion the total bill amount should be paid. The refund amount will be adjusted in next bill.

Originally Posted by diyguy

I think the reason for having to pay the full amount as per original bill or pay interest is to avoid a ponzy scheme of payment by refunds or returns.

This is not true. The bank doesn't care how the money is credited, whether via refunds or through actual payment. Have actually done it many many times when I used to send money to my brother abroad when he needed it urgently via PayPal. When he got paid, he would refund the original payment via PayPal, saving us the 4% PayPal fees as well as me not having to make the payment to the bank as he would create the refund before the due date of the bill.
I also used to use this system to make payments for one credit card with another credit card when needed as I was using my credit cards to run my business. All of this is completely legal.

TLDR : If a refund has been received after statement generation, all you have to do is pay the remaining amount before the due date and not the original billed amount.

[rkg]

Originally Posted by rdst_1

This is not true. The bank doesn't care how the money is credited, whether via refunds or through actual payment. Have actually done it many many times when I used to send money to my brother abroad when he needed it urgently via PayPal. When he got paid, he would refund the original payment via PayPal, saving us the 4% PayPal fees as well as me not having to make the payment to the bank as he would create the refund before the due date of the bill.
I also used to use this system to make payments for one credit card with another credit card when needed as I was using my credit cards to run my business. All of this is completely legal.

TLDR : If a refund has been received after statement generation, all you have to do is pay the remaining amount before the due date and not the original billed amount.

It varies from bank to bank. Better to pay in full to avoid complications.
Amex is very clear about. It clearly mentions any such statement credit after billing date will not accounted as payment