OK, here's the scoop.. I recently purchased a $1700 TV from a national retailer. I paid $1500 of the amount using their store issued credit card and the remaining $200 using my personal credit card. I wasn't happy with the picture once I had it home for a few days so I returned it for a refund.
I wasn't aware of this at the time, but the customer service person who handled the return made a mistake and credited the full $1700 to my personal credit card. It was a few weeks later that I realized the mistake.. I went back to the store and talked with the manager and she said they would have to charge my credit card $1500 dollars in order to pay off the credit balance on the store card. Now, I have a $1500 debit showing up on my personal credit card bill! Does this seem right? I'm fairly new to credit cards so I'm very confused about how all of this works. Does anyone have any explanations or any suggestions or on how to get out of this mess? Thanks in advance!
2007-12-17 15:28:13 · 7 answers · asked by John H. 2 in Business & Finance ➔ Credit
Janell T, Yes..the interest on the $1500 debit from my credit card is what concerns me. I will call my credit card company tomorrow for some answers. Thank you all for the help!
2007-12-17 17:03:07 · update #1
Umm, yeah .... it's right, simple arithmetic.
2007-12-17 15:36:15 · answer #1 · answered by ValleyR 7 · 0⤊ 0⤋
Sounds right. The result should be that you will not have to pay anything towards the cost of the tv. The original charge of $1500 on the store card, should be nullified by a credit of the same amount. Likewise, the original charge of $200 on your personal credit card should be balanced by a $200 credit. Since they accidentally gave you a credit of $1500 too much on your personal credit card and the $1500 charge was still on your store card, they had to charge your personal card $1500 so it could be credited to the remaining charge on the store card. In this way, you will end up owing them nothing on either card.
2007-12-17 15:48:00 · answer #2 · answered by legendofslipperyhollow 6 · 0⤊ 1⤋
What mess? They gave you $1700 and then charged you back the $1500 overpayment. Call your credit card customer service and make sure you got the $1700 refund. If not, take all your statements to the retailer and show them that they didn't refund you properly.
2007-12-17 15:32:20 · answer #3 · answered by tjnstlouismo 7 · 1⤊ 0⤋
Bought the TV:
+200 to personal +1500 to store card
Returned TV:
-1700 to personal - 0 to store card
Correction to cards:
+1500 to personal -1500 to store card.
Totals
0 to personal 0 to store card.
Sounds OK to me.
2007-12-17 15:33:57 · answer #4 · answered by Dan H 7 · 1⤊ 0⤋
Does the store credit card show a payment of $1500? If not, you may have a problem.
2007-12-17 15:32:03 · answer #5 · answered by Julie D 3 · 0⤊ 0⤋
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2007-12-19 22:20:07 · answer #6 · answered by Anonymous · 0⤊ 0⤋
No go back to the store and demand they void the charge off your personal card as you'll be charged interest on that til it's paid.They can void it on the machine using the reference number on your credit card reciept.Then they can manually type in your store card number with the proper number.
2007-12-17 15:32:37 · answer #7 · answered by Janell T 6 · 1⤊ 0⤋