Refunds

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attrapereves
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Refunds

Postby attrapereves » Sat Oct 03, 2015 4:17 pm

Let's say I bought something from Amazon for $100 and got 5% cash back. If I got a refund on that item, do credit card companies generally take away the rewards that were originally spent on the transaction? Or are refunds/credits independent of rewards?


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CarefulBuilder14
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Re: Refunds

Postby CarefulBuilder14 » Sat Oct 03, 2015 7:37 pm

attrapereves wrote:Let's say I bought something from Amazon for $100 and got 5% cash back. If I got a refund on that item, do credit card companies generally take away the rewards that were originally spent on the transaction? Or are refunds/credits independent of rewards?

Generally the CC company will reduce your rewards, if you've not transferred or redeemed them.

If you've already redeemed cash back or transferred MR-type points to travel partners, you will generally earn no rewards until the deficiency is satisfied.

I'm not aware of any case where an issuer tried to "claw back" MR/UR from a transfer partner loyalty account. I don't know if it's possible.

If you're earning directly in miles/hotel points - as opposed to transferring - then I don't know what to expect.
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augiedog
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Re: Refunds

Postby augiedog » Sun Oct 04, 2015 11:21 am

Yes, they take away any bonuses you may have received. If you've already cashed out then you will have a negative point balance.
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CarefulBuilder14
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Re: Refunds

Postby CarefulBuilder14 » Sun Oct 04, 2015 11:26 am

If you have a $3k minimum spend requirement for a signup bonus, but a refund takes you from above $3k to below $3k, an issuer will sometimes give you a little more time to get above $3k spending again. Definitely a YMMV area.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

takeshi
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Re: Refunds

Postby takeshi » Mon Oct 05, 2015 9:16 am

attrapereves wrote:If I got a refund on that item, do credit card companies generally take away the rewards that were originally spent on the transaction?

Yup. If that loophole existed tons of people would abuse it.



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