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POSTED BY ON March 30, 2013 5:44 pm COMMENTS (6)
i got my credit card bill of total current month due a/m Rs.2000/- on dt.11/03/13, to be paid before dt.31/03/13. meantime my railway ticket cancellation (bought before 3 months) refund Rs.2200/- deposited in credit card account on dt.18/03/13. whether need i pay the current month due a/m before dt.31/03/13? i did purchase @Rs.5000/- after dt.11/03/2013, which still to be billed on dt.11/04/13. but no previous period due is pending.
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thank you, Ashal.
Dear Bharat, practical answer – I do not know as I did not try the thing – not paying dues with a positive credit balance. Theoretical answer – as you skip a due, it MAY BE ignored by the bank as the positive credit is already there.
Thanks
Ashal
dear Ashal , does it mean that if i would not pay the current month’s dues on dt.31-03-13, no interest would be charged ? does it effect my credit score , or any other adversity ? this is just for knowing, if you have idea. i paid it yesterday only.
Dear Bharat, actually there ‘ll not be any interest as the positive balance is already there but as I said, the payment is not from you but a credit entry from cancellation, so a credit entry from you as payment of billing amount is required.
Thanks
Ashal
thank you, Ashal. as such, the payment , though paid through Credit Card initially, but it was back paid to the credit card account, and so, the refund is , in a way, paid by me to the credit card, and logically, i am paying the current bill before due date. but you are right, the call centre also told to pay , but i got doubt. thank you for clearing the same. however if i would not pay, on which a/m interest would be charged? as such, there would not be any dues (for any billed a/m) on dt.31/03/13.
Dear Bharat, although there is a credit entry of 2200 Rs. but it’s not from you for payment. it’s for old transaction cancellation. Hence you need to pay your dues. In next billing cycle, your 2200 Rs. from ticket cancellation ‘ll be adjusted towards the fresh purchases made by you in the ongoing billing cycle.
Thanks
Ashal