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  • Aug 2nd, 2012 4:08 pm
[OP]
Jr. Member
Jan 6, 2007
148 posts
13 upvotes
L

Amex craziness!

I returned a product to Costco and my credit card was credited for an amount much higher than minimum payment. The next statement I am overdue because the payment was not coming from me. This is crazy!
Can you help me to find the user agreement for "American express Costco platinum cash rebate"?
thanks,
M
43 replies
Deal Addict
May 2, 2007
3013 posts
268 upvotes
Kingston
More like I can't afford my payment craziness. You might need to rethink your finances.
Deal Addict
User avatar
Dec 26, 2010
1736 posts
773 upvotes
Calgary
A credit card isn't going to count refunding a purchase as a payment, as every deadbeat would go out and do it.
Deal Addict
Mar 2, 2005
2032 posts
333 upvotes
You need to read your agreement carefully. Refunds and credits don't count as payments. Credits for another billing cycle yes, but not payments. You will be charged with interest and Amex might already have flagged your account. Best thing you can do at this point is call them, speak the truth of your misunderstanding and promptly make a payment.
[OP]
Jr. Member
Jan 6, 2007
148 posts
13 upvotes
L
The item was bought in May, fully payed in June and returned in July. There was another purchase in July.
[OP]
Jr. Member
Jan 6, 2007
148 posts
13 upvotes
L
In your opinion if an item was returned it is normal that your account is past due because there was no minimum payment????
Deal Fanatic
User avatar
Nov 23, 2005
8882 posts
5470 upvotes
Refunds are not treated as payments. Sorry, but your are SOL.
Deal Addict
Feb 25, 2009
1009 posts
65 upvotes
mihaimont wrote: I returned a product to Costco and my credit card was credited for an amount much higher than minimum payment. The next statement I am overdue because the payment was not coming from me. This is crazy!
What is crazy is that you seem to think a credit (refund) and a payment are the same thing.
mihaimont wrote: Can you help me to find the user agreement for "American express Costco platinum cash rebate"?
thanks,
M
Read the back of your statement
Being broke is childish and I'm quite grown
[OP]
Jr. Member
Jan 6, 2007
148 posts
13 upvotes
L
You buy an item with your credit card. After the statement is mailed you return the item but your account is past due because you did not made the minimum payment!
There is nothing about "refund is not considered a payment" on the statement.
Deal Addict
User avatar
Oct 16, 2008
4569 posts
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I don't know. I recently switched my RBC Visa from a premium card to a no-fee one, and had my annual fee pro-rated. The refunded annual fee was more than enough to wipe out my balance, and I didn't have to pay off my balance for that month. So I guess it's different for different credit cards.
Deal Addict
Oct 13, 2006
2707 posts
1180 upvotes
Burnaby
its based on your billing cycle. since your return happened after your billing cycle ended it gets added as a credit to the following billing cycle and not a payment as others have said. had you returned the item within the previous billing cycle and it got posted to your account before the billing cycle ended it would have appeared as a credit to your account but you would have still owed whatever the balance was at the end of the billing cycle.
Deal Addict
Sep 1, 2005
1500 posts
572 upvotes
Vancouver
i think hes saying he bought one item (and nothing else on the card), and returned it right after the stmt came out, and it charged him a late payment fee, even though in reality there was no end purchase... if thats the case i think that's an understandable mistake.

instead of posting here why dont you call customer service and tell them the story, they'll probably refund it.
Deal Expert
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Nov 2, 2003
16743 posts
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GTA
ilove wrote: I don't know. I recently switched my RBC Visa from a premium card to a no-fee one, and had my annual fee pro-rated. The refunded annual fee was more than enough to wipe out my balance, and I didn't have to pay off my balance for that month. So I guess it's different for different credit cards.
irrelevant anecdote

VISA = credit card
AMEX = charge card
Newbie
Dec 20, 2011
29 posts
2 upvotes
MISSISSAUGA
kaycee8877 wrote: i think hes saying he bought one item (and nothing else on the card), and returned it right after the stmt came out, and it charged him a late payment fee, even though in reality there was no end purchase... if thats the case i think that's an understandable mistake.

instead of posting here why dont you call customer service and tell them the story, they'll probably refund it.
I think what happened here was that he bought several items and returned one of them. He did not make a minimum payment expecting the refund to cover it. It didn't/doesn't do that. Sorry OP, but refunds are obviously not your payments and it wouldn't make sense for them to count towards any sort of payment for the purchases you made.
Banned
User avatar
Dec 1, 2011
2427 posts
342 upvotes
Winnipeg
actng wrote: irrelevant anecdote

VISA = credit card
AMEX = charge card
You do realize that Amex has offered credit cards as well for years now?
Can you believe it? They sent my income tax return forms back to me! In response to question # 4, "Do you have any dependants?" I replied - "2.1 million illegal immigrants, 1.1 million crack heads, 4.4 million unemployable people, 901 thousand people in over 85 prisons, and 650 idiots in Parliament.
Apparently, this was NOT an acceptable answer.

Who the hell did I miss? :razz:
Banned
User avatar
Dec 1, 2011
2427 posts
342 upvotes
Winnipeg
kaycee8877 wrote: i think hes saying he bought one item (and nothing else on the card), and returned it right after the stmt came out, and it charged him a late payment fee, even though in reality there was no end purchase... if thats the case i think that's an understandable mistake.

instead of posting here why dont you call customer service and tell them the story, they'll probably refund it.
I guess you missed this :arrowd:
mihaimont wrote: The item was bought in May, fully payed in June and returned in July. There was another purchase in July.
Can you believe it? They sent my income tax return forms back to me! In response to question # 4, "Do you have any dependants?" I replied - "2.1 million illegal immigrants, 1.1 million crack heads, 4.4 million unemployable people, 901 thousand people in over 85 prisons, and 650 idiots in Parliament.
Apparently, this was NOT an acceptable answer.

Who the hell did I miss? :razz:
Deal Addict
Aug 16, 2005
1874 posts
125 upvotes
mihaimont wrote: You buy an item with your credit card. After the statement is mailed you return the item but your account is past due because you did not made the minimum payment!
There is nothing about "refund is not considered a payment" on the statement.
As stated by a ton of people already, refunds are not considered a payment. However, I think the only time it MAY be considered a payment is when there are no other charges on your card.

For example, say you charged $100 worth of stuff at costco in late May. You charge nothing else to your card at all. Your june 20 statement arrives, says you owe $100 (min $10) by July 5. You refund the full $100 at costco on june 25. If you did this, your balance would be at zero, so I think then it would be okay. However, if you made other charges, then it would not be okay because you cannot use that $100 refund as a payment anymore.
Deal Fanatic
Mar 12, 2010
6092 posts
639 upvotes
SW Ontario
myapple wrote: As stated by a ton of people already, refunds are not considered a payment. However, I think the only time it MAY be considered a payment is when there are no other charges on your card.

For example, say you charged $100 worth of stuff at costco in late May. You charge nothing else to your card at all. Your june 20 statement arrives, says you owe $100 (min $10) by July 5. You refund the full $100 at costco on june 25. If you did this, your balance would be at zero, so I think then it would be okay. However, if you made other charges, then it would not be okay because you cannot use that $100 refund as a payment anymore.
This! Finally!

I think this is what OP was thinking, but because of the other charge OP made, that messed it up. The above poster nailed it.

However, you could probably call AMEX and talk to them if it's a major issue (over what dollar amount??) If your card was paid in full last month and you paid it off (paying for the item you bought the first month) then returned it, they might have leniency...

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