Can a CC refund item of £60 back on a CC, count as the monthly minimum payment (which is £24)

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Post by flamingate » Mon Aug 02, 2021 1:37 am
Vanquis credit card.

If you have a balance on your vanquis credit card, and the minimum payment is £24.

If every month more than the minimum payment is paid (say £40) to cover the minimum payment.

now lets say you purchased a £60 item from the shop with your Vanquis card, but now want a £60 refund back to your Vanquis card (which you purchased with your Vanquis card),

then you will get a +£60 to your vanquis credit card.

Can this £60 be used to pay the minimum payment of £24, so I will NOT have to make a payment of £40 as I usually do every month?

so if I get the refund of £60, will that count towards the minimum payment (which is due) and then I will not have to pay the minimum payment?

How about for other credit cards, santander, nationwide, mbna?


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Post by kallis3 » Mon Aug 02, 2021 7:54 am
Personally speaking, I wouldn't think so. I had a holiday refund last year on my card and still had to make the minimum payment. All it means is that your balance comes down by that amount. I could be wrong though so hopefully someone else can come on and clarify.
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Post by lifenoteasy » Mon Aug 02, 2021 8:36 am
Technically a credit card balance can be seen as a breach of T&C's but would not reduce an agreed monthly payment in this scenario.

You would be better off spending the money on something else.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.


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Post by Foggy » Mon Aug 02, 2021 8:50 am
No, on any CC a refund would not offset the minimum monthly payment, just lower the balance on the next months statement.
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