How CC companies calculate returns/credits on account . . .

[milhaus]

Hypothetical situation.
I have a $1000 CC bill, printed on the 15th, due on the 1st. Between the 15th and the 1st, I buy and return something worth $250. I pay $750 on the 1st.

Have I paid my balance for that month in full, or would I get charged interest on the $250. In other words, do CC companies treat returns as credits to the account?

Seems like a pretty serious loophole, though, so probably not. Not thinking about doing this, as there's no actual benefit to me - just curious. . .

[Jucius Maximus]

This loophole does not exist.

[xlfe]

u would get charged interest on the whole balance.

[brunes]

Hypothetical situation.

Seems like a pretty serious loophole, though, so probably not. Not thinking about doing this, as there's no actual benefit to me - just curious. . .

This loophole does not exist.

I am not sure Jucius is correct here, because I have done stuff before like buy something on my wife's CC then return it on my CC (totally innocent reasons), and this goes through without a hitch. The return shows up as a credit. This proves that a return is not a "void" of another transaction, it is a totally independent transaction that reduces your balance owing. The only question is, does this count towards your payment?

As a side note, it is interesting that because this was a points card the return resulted in a *NEGATIVE* points balance for awhile.