Can store credit be refunded?

Retailers are required to clearly post their refund policy unless they offer a full cash refund, exchange, or store credit within seven days of the purchase date. Retailers failing this requirement are required to accept full refunds within 30 days of purchase.

Can I return something if I paid with card?

The common policy for retailers that grant refunds is to issue the refund using the same method with which you paid. Thus, if you paid with a card, you typically get the return credited to your card.

What if I have a negative credit card balance?

A negative balance on a credit card means your credit card company owes you money, rather than the other way around. If you fully pay off such balances by the due date each month, you won’t be charged any interest. And as long as you pay at least the minimum amount required, your account will stay in good standing.

Can you buy something from one store and return it to another?

Consumer law, in most mature economies, protects your right to return an item if it is faulty. Most retailers go beyond that and allow you to return, for a full refund, an item even if it is not faulty. This is their policy, but they are not obligated to do so by law.

Can I wear something then return it?

The short answer is – yes, it is possible. So, here is the law, and how to stay out of trouble. The practice of buying clothing, wearing it once or twice and returning it to the store is called “wardrobing” and it costs stores almost $10 billion dollars a year.

Can you get cash back from a store with a credit card?

No, you can’t use your credit card for cash back at stores; this is a transaction generally reserved for debit cards and, in fact, is only possible at some stores even then. In general, you’ll want to use a debit card for cash back, whether via a transaction at an eligible store or through an ATM withdrawal.

What happens if you pay more than your credit card limit?

Banks may even waive off your over-limit charges at their discretion. “Though you can purchase beyond your credit limit, exceeding the specified limit makes you liable to pay an over-limit charge of usually up to 3 percent of the over-limit amount,” says Naveen Kukreja, CEO, Paisabazaar.com.

Can I return a product I purchased on my credit card?

Returning a product you purchased on your credit card seems simple. After all, as long as you are within the retailer or store’s return policy, you can typically return the item for a full refund.

Can I get a refund on my credit card?

After all, as long as you are within the retailer or store’s return policy, you can typically return the item for a full refund. However, depending on the circumstances of your purchase and your return, the refund process on your credit card can involve some extra steps and factors.

Can I get my money back from a credit card transaction?

Unfortunately, because of the way credit card transactions work, it’s unlikely that the merchant will refund you in any way other than the original payment method. Often, the merchant can pull up your credit card details using your receipt and issue a refund back to the card.

What happens when you buy something with a credit card?

When you buy something with a credit card, the retailer is actually starting the process of being paid by the credit card issuer, not by the consumer who is making the purchase. Normally, once the transaction is approved your amount of available credit is reduced, and you’ll be billed by the credit card company…

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