Refund time

Joined
Dec 7, 2003
Messages
11,925
Location
Florida, Cape Coral
I find it interesting and frustrating that if I purchase furniture with my credit card that will be delivered in 6 weeks. I changed my mind and cancel the order a few days later. A week later the funds are still not back on my CC. I call the store and was told to be patient because it will take up to 10 days to refund my money.
 
Joined
Mar 4, 2017
Messages
24,084
Location
...
I find it interesting and frustrating that if I purchase furniture with my credit card that will be delivered in 6 weeks. I changed my mind and cancel the order a few days later. A week later the funds are still not back on my CC. I call the store and was told to be patient because it will take up to 10 days to refund my money.


It’s called the float.
 
Joined
Jul 30, 2003
Messages
2,348
Location
GA
You aren't being charged interest yet, and you have a date it should be complete by...what is the problem?
Actually, he's being charged the opportunity cost. Which is probably in reality nill, but as long as we're being technical, let's not be one sided.
 

Bud

$50 Site Donor 2022
Joined
Jun 4, 2002
Messages
3,202
Location
Texas
Stores take your money quickly, and are slow to give it back. Always been that way when using a CC.
 
Joined
Nov 24, 2003
Messages
3,265
Location
Middle of Iowa
Actually, he's being charged the opportunity cost. Which is probably in reality nill, but as long as we're being technical, let's not be one sided.
I took Econ 101 ;-) You are correct.

I guess if you are in enough debt to be concerned with your revolving credit not offering you an opportunity...
 

Eddie

Thread starter
Joined
Dec 7, 2003
Messages
11,925
Location
Florida, Cape Coral
I have plenty of money and always pay off my card in full. I just think it is rude and not a good business model to hold on to the money. For those who live from paycheck to paycheck it is cruel to float the money longer than absolutely necessary. JMT.. Ed
 
Joined
Jun 19, 2020
Messages
1,373
Location
Iowa
I have plenty of money and always pay off my card in full. I just think it is rude and not a good business model to hold on to the money. For those who live from paycheck to paycheck it is cruel to float the money longer than absolutely necessary. JMT.. Ed

The retailer could make the same argument about your cancelled order. They have invested money in processing your order and will not get any revenue to cover that cost. Your opinion is a little one sided IMO. You are not out anything and in the end will be made whole.

Just my $0.02
 
Top