Canceled Orders affect on the monthly spending targets of Cards

[CardUser28]

Hi All,

1. If I order one phone for 1 lakh but cancel that after the billing date and before receiving the product, will that be counted towards my monthly spending or not?
2. About my returns and refunds from credit card purchases, will those gets counted towards milestones or not?

 

[souvikr]

1. No
2. No
If you have already received any rewards/benefits for the returned product that will be adjusted in your next bill.

 

[Wealth is my birth right!]

Hi All,

1. If I order one phone for 1 lakh but cancel that after the billing date and before receiving the product, will that be counted towards my monthly spending or not?
2. About my returns and refunds from credit card purchases, will those gets counted towards milestones or not?

Long in short ur reward points also will be reversed

 

[ankushanup1]

say if you had placed an order on 25th on a card whose billing date is 29th while bill is generated you cancel on 30th and refund takes 3 days from then
so if a bank reports to cibil on 30th it would be reported as usage but you would get it refunds eventually but still you cur shows transaction which is usually goes unchanged in next reporting

if that's not the case still there are no rewards, no milestone counts, no sft reporting etc

 

[SunnyM]

I had a similar question. I paid 50000 in insurance premium for someone and on the same day they made the payment towards my card of the same amount. Will that be considered spends and also will I get cashback/rewards if it is applicable (insurance premium so I am not sure ) and wheather this transaction will count in fee reversal at the end of the year ?. Please some one help

 

[souvikr]

I had a similar question. I paid 50000 in insurance premium for someone and on the same day they made the payment towards my card of the same amount. Will that be considered spends and also will I get cashback/rewards if it is applicable (insurance premium so I am not sure ) and wheather this transaction will count in fee reversal at the end of the year ?. Please some one help

Yes, it's a valid spend and you will get all applicable reward points. Also this amount will be counted in your milestone for fee reversal.

 

[SunnyM]

Yes, it's a valid spend and you will get all applicable reward points. Also this amount will be counted in your milestone for fee reversal.

Thanks so much for this info.