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Depending on your credit cards issuer, credit balance refunds can be sent as a check or a refund to the bank account from which the payment was originally taken. You can usually contact your credit card issuer online, over the phone or by mail to ask for a credit balance refund.
Once you have returned the item to the retailer, you will receive a statement credit on your credit card account. This statement credit may show up on your online account within a few days, although the exact time frame will vary depending on both your credit card issuer and the merchant.
The bottom line. If your credit card payment does not go through, your card issuer will typically charge you a returned payment fee. It could even add on a late payment fee, depending on the terms of your card agreement. Not only that, but your bank may also assess you for a non-sufficient funds fee.
Credit balance refunds are issued in the form of a check. The credit cant be applied to another credit card, checking, or savings account. The refund check is made out to the primary account owner and mailed to the address on file.
One of the benefits of paying for goods with a credit card rather than with cash is that your purchases are protected by law. This means if for some reason your goods are faulty, damaged or were never delivered to you, then you should be able to claim the money back via your credit card provider.
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When requesting money back, the merchant will generally credit the refund to your original form of payment, so if you paid by card, you wont receive physical cash back. Your credit card issuer will then post a statement credit to your account, effectively reducing your statement balance by the refunded amount.
A credit card refund happens once you make a purchase, return the item and the purchase amount is returned and credited to your account. A credit card chargeback will reverse the original amount that has been charged to your account. This takes place if you file a dispute with the credit card issuer.
One of the benefits of paying for goods with a credit card rather than with cash is that your purchases are protected by law. This means if for some reason your goods are faulty, damaged or were never delivered to you, then you should be able to claim the money back via your credit card provider.

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