Credit card refund query

[b4bhar]

Hi Guys,

I actually made a transaction on AJIO and immediately cancelled as i wanted to change the address. So, i made another payment. I'm close to the 5k monthly cb limit on my SBI card.

AJIO says it can take upto 7 days for refund, but will it really take as i cancelled it immediately? I mean will they even claim the transaction? My only worry is if both the transactions gets settled together, the cb would be captured for the 1st transaction and the 2nd transaction cb wouldn't as it exceeds the 5k limit.

Can anyone help here?

thanks

 

[JSK111]

When you get refund for same transaction then cashback is also reversed on that transaction. So if both of your transaction are in same billing cycle then it should be fine.

 

[Wealth is my birth right!]

Hi Guys,

I actually made a transaction on AJIO and immediately cancelled as i wanted to change the address. So, i made another payment. I'm close to the 5k monthly cb limit on my SBI card.

AJIO says it can take upto 7 days for refund, but will it really take as i cancelled it immediately? I mean will they even claim the transaction? My only worry is if both the transactions gets settled together, the cb would be captured for the 1st transaction and the 2nd transaction cb wouldn't as it exceeds the 5k limit.

Can anyone help here?

thanks

For cancellations u can see order refund in card account after 48 working hours

 

[b4bhar]

When you get refund for same transaction then cashback is also reversed on that transaction. So if both of your transaction are in same billing cycle then it should be fine.

the thing is, both the transactions would get settled at the same time which means cb for 1st transaction and no cb for 2nd transaction. But when refund occurs few days later, the cb received for the 1st one would be reversed. but will they proactively add the cb for the 2nd transaction?

 

[b4bhar]

For cancellations u can see order refund in card account after 48 working hours

do you mean in sbi cards app?

 

[JSK111]

the thing is, both the transactions would get settled at the same time which means cb for 1st transaction and no cb for 2nd transaction. But when refund occurs few days later, the cb received for the 1st one would be reversed. but will they proactively add the cb for the 2nd transaction?

It's so simple you will 3 transactions as below in your credit card statement.

Amount cashback
100 5
-100 -5
100 5

Understood?

 

[b4bhar]

It's so simple you will 3 transactions as below in your credit card statement.

Amount cashback
100 5
-100 -5
100 5

Understood?

the above overview is clear. But I'm thinking about the following situation.

transaction settled on July 14th

Amount CB
1. 100 5
2. 100 0 ( since limit reached)

reversal/ refund happens on 18th July (lets say)

-100 -5 will get updated, right? But will they add the cb for the transaction which was settled on 14th? when the transaction was settled, the limit reached, so 0 cb. but what about 18th?

are you getting the situation here?

 

[JSK111]

the above overview is clear. But I'm thinking about the following situation.

transaction settled on July 14th

Amount CB
1. 100 5
2. 100 0 ( since limit reached)

reversal/ refund happens on 18th July (lets say)

-100 -5 will get updated, right? But will they add the cb for the transaction which was settled on 14th? when the transaction was settled, the limit reached, so 0 cb. but what about 18th?

are you getting the situation here?

Limit of cashback is calculated at statement level and not during each transaction. The cashback will be calculated for each transaction. The capping will bd done when your statement is generated.

 

[b4bhar]

Limit of cashback is calculated at statement level and not during each transaction. The cashback will be calculated for each transaction. The capping will bd done when your statement is generated.

oh, if that's the case, its great. So, does that mean it shows more that 5k cashback in the SBI card for the current month, until the statement is generated?

 

[JSK111]

oh, if that's the case, its great. So, does that mean it shows more that 5k cashback in the SBI card for the current month, until the statement is generated?

Not sure on that whether it will show 5000 or 5005 in the app before statement generates. Never reached the limit. Let us know what the app shows when you cross the limit.

 

[Wealth is my birth right!]

do you mean in sbi cards app?

Yes we can see reversals in app

 

[b4bhar]

Not sure on that whether it will show 5000 or 5005 in the app before statement generates. Never reached the limit. Let us know what the app shows when you cross the limit.

sure. My transaction would be settled on 14th probably. If AJIO doesnt claim the cancelled transaction, then i cannot check this though