When you are spending with your credit card, you have to be aware of what you are spending and when. Losing track of how much money you have and where it is going can lead to serious financial difficulties which can make life harder for you in the long term.
This is why, if you need a refund to your credit card or believe a transaction from your credit card is not one you have authorised, you must make sure you get in touch with your bank and sort the matter out.
Money doesn’t grow on trees. You work hard to ensure you have a good credit rating and know exactly how much money you can use on your credit card without it causing you serious problems.
So, if you need to sort out a refund or make sure your money is safely where it should be, you need to know the steps that are involved with it. This is why you must make sure that when it comes to credit cards and refunds, you are on the top of your game.
This article will tell you exactly how to do that and what you need to do to make sure that your money goes where you want it to.
Check Your Balance Regularly
One false step that many people make is to not check their balance regularly. This is because they forget, or they have other things on their minds, or they simply cannot be bothered to. This is, unfortunately, a bad attitude to have as it means that you aren’t keeping your money under the strictest of controls.
Checking your balance regularly applies both to a debit account and to your credit card. If you don’t keep checking your balance you could easily either overspend or be the subject of fraud and not realise until it is too late. Checking your balance ensures that you are on top of your finances and that, if something is wrong, you can easily contact your bank or credit card provider to fix the problem.
Noticing Something Wrong With Your Account
If you check your account as regularly as possible you will be likely to see when something is wrong with your account. This is because you are more likely to remember if you made a transaction or not then if you only check your balance once every month or few months.
Once you have noticed something irregular with your transaction history you should immediately contact your bank. If it is a case that it is a transaction that you did conduct but simply do not recognize, the bank will be able to easily tell you.
However, if it is a transaction that is unlikely to have been made by you then the bank will equally be ready to inform you that it may be fraudulent.
Once you have established whether the amount of money listed is potentially fraudulent or not you can then ensure that the matter is dealt with quickly and effectively so that you account can remain secure, and you can get your money back.
Your bank may take some time in order to fully resolve the issue with your card, however the sooner your contact them the sooner that the matter can be resolved in a timely way which helps everyone.
Getting A Refund On Your Credit Card
Sometimes of course the issue isn’t so much that you have had money stolen off your or simply misplaced it but rather that you want a refund on a product that you are not entirely happy with. This is not an uncommon occurrence particularly when buying online. You might see an item that is described as something you want online but discover that it isn’t when it arrives.
If you want to get a refund for an online purchase, you should first contact the provider you bought the item off. If this is off Ebay, Amazon or another store then you may need to contact the person that you bought the item off.
This is imperative as if you contact your bank or credit provider before you have contacted the original seller then you might not receive your refund or make the process more complicated.
Once you have contacted the original seller then you should be able to follow the process allowing for a quick and easy return of your money.
Do PayPal Refunds Go Back To Credit Card?
PayPal can be a great service to use, and plenty of places now accept PayPal. It is a quick and easy method to pay for things and ensure that your money goes to the right place. However, you may be wondering, if you want a refund or if you have a problem with the item that you have bought – will the money used via PayPal go back to your credit card if it was the source of the payment?
The simple answer is yes, though it can sometimes take time to appear on your statement. If you paid for your item via PayPal with your credit card as the source of the money which went through PayPal, then your money will be transferred via PayPal back to your card.
This can however take up to thirty days to show on your statement and in your account. Usually of course it doesn’t take anywhere near as long, however if there is some problem with the amount paid or PayPal is having a particularly busy period (such as over the Holidays) then it may take longer for the refund to reach you. Read here about if refunds can be made to a different credit card.
Keeping Your Credit Card Under Control
We all know that credit cards are great, and we all use them. However, it is vitally important that you keep your credit card spending under control. This is because if you don’t then you could end up in a financial mess.
Therefore, by listing your credit card spending somewhere, potentially a pocket diary, you can make sure that your spending is not only under control but that you will be able to instantly tell if there has been any fraud committed using your card.
Keeping your money safe such be your highest priority and knowing where your credit card is and what it has been used for is a keyway to keep it safe.