does visa charge intrest on a refunded charge?

Answer 1

Was the charge immediately refunded, or did you return the item some time later within the same period, or did you return the item in a different period altogether? With the exception of the first case, yes, you will be charged interest because Visa calculates interest based on your average daily balance throughout the period. So if you purchase said item on the first day of the billing period, but you return it on the next to last day of the period, and the item costs $50 then your average daily balance will be roughly $50 higher than if you never bought the item in the first place, even though your payment amount is the same.

Answer 2

As the first answer said, VISA is a brand name. They don't actually issue credit cards. The bank that issued the card determines how interest is computed. As a rule, treat the refund as if you made a payment in that amount an the date of the refund. If you would have paid interest in that case, you will probably pay the same interest when the charge is refunded.

Answer 3

Yes.

Now keep in mind that saying Visa doesn't really answer all the questions. There are many different companies who offer a Visa card, each one of which has their own terms and conditions.

But for the most part if you make a purchase with most credit cards unless there is a grace period that transaction will start earning interest daily until you pay it off. If you then get a refund for that item a week later you will still be liable for the interest that was accrued on that owed amount for every day before the refund.

If you think about it, you borrowed the money, so you still have to pay the interest on it. With most credit cards that interest is calculated daily.

Answer 4

If you have a VISA balance that you are paying interest on(not paid off at the end of each month or you have made cash advances) they will charge interest on the refunded charge for the period between the time of the charge and the time of the refund.