Four points that should be paid attention to in credit card repayment

Can I return the credit card transaction? The answer is yes, for banks, the return transaction after credit card consumption is nothing more than the settlement of the transaction, but don't ignore the small problems.

Question 1: What should I do to return the goods on the day of consumption?

Generally speaking, if the cardholder returns the goods on the day of the transaction, because the bank has not settled the transaction, the merchant only needs to cancel the consumption on the POS machine.

Question 2: What should I do if I return the goods after spending the next day or even longer?

If the consumer returns the goods after the next day or even longer, the bank has settled at this time, which means that the consumer's payment has been settled, and it will be more troublesome to handle it at this time. Before the payment is returned to the cardholder's account, it needs to go through the settlement procedures of merchants, acquiring institutions, issuing banks and other institutions, which is quite tortuous. The time spent depends on the efficiency of each link, and ten days and a half months is normal.

According to the normal procedure, if the refund is still made by credit card or bank transfer, there is no handling fee, but if the merchant returns cash, it will often charge a handling fee. As for who should bear this part of the expenses, there is no clear stipulation at present, and the cardholder can negotiate with the merchant.

Question 3: What should I pay attention to when shopping?

First of all, if all goes well, the refund will be shown as a return transaction in next month's bill, but it is often not the case. Once the return processing crosses the credit card repayment cycle, the refund cannot be offset in the bill of the month of consumption. At this time, the cardholder needs to repay according to the repayment amount shown in the bill of the month, otherwise interest will be charged.

Secondly, in the usual shopping process, we should properly keep the purchase order and the purchase order and return order cancelled when returning goods, instead of simply asking for all the purchase orders (usually triplicate).

Question 4: How to deal with the installment return?

It is certain that credit card installment payment can be returned, but the procedure is more troublesome and the cardholder may have to pay a certain handling fee. If the cardholder returns the goods to the merchant, the procedures and arrival time are the same as usual, but the bank will still charge a one-month handling fee, and the rate is generally around 0.7%.