0
Is it a law to require credit card refunds to be credit back to the card?
Wiki User
∙ 13y ago
I do not know of any specific law stating this. However, I have seen it stated in most merchant agreements something to that effect. It's probably in the cardholder agreements as well. I think the main reason is to prevent the cardholder from circumventing doing a cash advance and avoiding the associated fees that the bank imposes on cash advances.
In my experience, though. I have returned an item to a store, which I had lost the receipt, and they issued me a store 'gift card' for that value.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the fee for credit card processing?
Fees for credit card processing vary by the card company and the actual card issued itself. Some of the common fees that are universal are on interchange accounts, which are assessed for refunds and chargebacks, and assessments, which are fees charged by all major companies.
What is a credit on credit card?
A credit on a credit card is the amount of money you are allowed to spend before you have to pay it back
Where can someone apply for credit card application?
There are several options for applying a credit card. One can find credit card applications at the bank, mail or internet. Credit card companies require a proof of income before being approved for credit.
How can one apply for a cash-back credit card?
There are many ways in which one would be able to apply for a cash-back credit card. One would be able to apply for a cash back credit card on sites such as "Credit Cards".
Can you get cash back with a credit card?
no
How are refunds commonly returned to customers?
Refunds are commonly returned to customers in the same method that the customer paid for the merchandise. If one paid with a credit card, then a credit is added to the credit card. If a customer does not have a receipt, the refund is usually issued as a store credit.
What is a unsecured credit card?
A secured credit card requires a security deposit. An unsecured credit card is the traditional credit which does not require a security deposit.
Hotel holds on your credit card?
Most hotels require a credit card to hold your reservation. When you check-in, you can pay for the room with your credit card or with cash.
Where is the vip code on a credit card?
The VIP code on the credit card is located at the back of the credit card.
What is the advantage of buying a prepaid credit card?
Advantages include the ability to have a credit card that already has funding and does not require a credit check.
What is the fee for credit card processing?
Fees for credit card processing vary by the card company and the actual card issued itself. Some of the common fees that are universal are on interchange accounts, which are assessed for refunds and chargebacks, and assessments, which are fees charged by all major companies.
What is a credit on credit card?
A credit on a credit card is the amount of money you are allowed to spend before you have to pay it back
Do you need a credit card to get free apps for the Kindle fire?
Free apps come free of charge (thus don't require a credit card), but the vendor might require user registration, which could require a registration of a valid credit card as part of a fraud and abuse prevention scheme.
Where can someone apply for credit card application?
There are several options for applying a credit card. One can find credit card applications at the bank, mail or internet. Credit card companies require a proof of income before being approved for credit.
How can one apply for a cash-back credit card?
There are many ways in which one would be able to apply for a cash-back credit card. One would be able to apply for a cash back credit card on sites such as "Credit Cards".
Can you get cash back with a credit card?
no
What are the top cash back credit card companies?
If you are looking for a credit card that gives you cash back on your purchases you should think about getting a Discover card. Depending on your credit score they give you different rates of cash back.
