Refund on zero balance credit card

[bigrednole]

They told me no, but it was only about $1,800. We recover it in a month's time anyway.

[JamesEM]

Called my bank and had the credit balance moved to my checking account, I was charged a 3% cash advance charge which resulted in another call to Bubba Bank and Trust.  

[pcur]

8 hours ago, Ocean Boy said:

I have had the opposite problem with BofA. I usually want any credit on the card to stay there and I charge against it. Many times they have sent me a check that I really didn't want for the credit.

Ah, but don't you just love that tiny little moment of "Yay, FREE money" you get before you think it through?

[SRF]

I dropped my BoA RCI card.

 

They charge you interest from the statement to the payment date.

 

So if they say you owe $100 (and that part of that is interest from the previous bill), and you pay $100 on the due date, they charge you interest and you are not at $0.  And the next month, they will charge you interest on that interest from statement to payment.

 

So the only way to actually pay it off is to either call to get a number for today, or pay them a bit extra to cover the interest.

[Joseph2017China]

On 7/22/2020 at 10:08 AM, ZoeyVictoria said:

That was the second call.  The first rep told me it would take 3-5 business days.  And the huge amount we are talking about?  $268.02.  The sad part is that the next cancellation will require 

refunds to two different BOA accounts.

You could have spent it the next day going grocery shopping.....why go to all the bother?

 

[Ocean Boy]

1 hour ago, SRF said:

I dropped my BoA RCI card.

 

They charge you interest from the statement to the payment date.

 

So if they say you owe $100 (and that part of that is interest from the previous bill), and you pay $100 on the due date, they charge you interest and you are not at $0.  And the next month, they will charge you interest on that interest from statement to payment.

 

So the only way to actually pay it off is to either call to get a number for today, or pay them a bit extra to cover the interest.

I pay my card off monthly and have never been charged interest. 

[ZoeyVictoria]

16 minutes ago, Joseph2017China said:

You could have spent it the next day going grocery shopping.....why go to all the bother?

 

It should have been just one simple phone call.  I am retired and not currently on a cruise ship, so I have nothing better to do.  I have a direct deposit into a separate checking account that is strictly for cruises.  I want it back in that account, waiting for the time I need it towards a cruise that actually sails.  If I intended to book another cruise, I would have just used the credit towards that, but I already have plenty of cruises that probably aren’t going anywhere.

[RFerrington]

Wow.  I guess I’m pretty lucky.  I bank with Navy Federal Credit Union and twice in the past month I have had credit balances on my credit card moved to my checking account on the spot.  Both times, they moved the entire credit balance over before I even got off the phone.  Sounds like that may not be the norm. I have another credit balance on there right now but it’s small ($308).  I will call them in the next day or 2.

[SRF]

On 7/23/2020 at 1:21 PM, Ocean Boy said:

I pay my card off monthly and have never been charged interest. 

 

Fine.  But if you don't pay it off one time, you will be chasing the actual pay off.  Every other card I have had, if you pay the amount on the statement, by the due date, you are fine.  Not with BoA.

 

And if you have any balance for the next month, they charge you interest on every purchase from the time of purchase.

 

Edited July 24, 2020 by SRF

[SRF]

On 7/23/2020 at 2:04 PM, RFerrington said:

Wow.  I guess I’m pretty lucky.  I bank with Navy Federal Credit Union and twice in the past month I have had credit balances on my credit card moved to my checking account on the spot.  Both times, they moved the entire credit balance over before I even got off the phone.  Sounds like that may not be the norm. I have another credit balance on there right now but it’s small ($308).  I will call them in the next day or 2.

 

That works if you have a bank account and credit card from the same bank.

 

The problem is, if your credit card is say Citibank, but your card is NFCU.

[AlanF65]

On 7/23/2020 at 12:02 AM, pcur said:

Ah, but don't you just love that tiny little moment of "Yay, FREE money" you get before you think it through?

I view a cruise as a sunk cost or money gone when I pay for it so to me it is "found money" or "free money" I don't expect. Its excess cash  added to the discretionary spend or savings fund.  Yeah its my money but its like money I  spent and was gone 6 months before.

 

I don't insure the cruise beyond the CSR credit card  insurance limits and my medical policy

[Ocean Boy]

3 hours ago, SRF said:

 

Fine.  But if you don't pay it off one time, you will be chasing the actual pay off.  Every other card I have had, if you pay the amount on the statement, by the due date, you are fine.  Not with BoA.

 

And if you have any balance for the next month, they charge you interest on every purchase from the time of purchase.

 

Thanks for the info.