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Credit Card Not Considering Prepayments & Refunds During Bill Generation

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Deal Captain
beastboy

I have made a purchase of 50k On my Flipkart Axis Credit Card and Made a Prepayment of Rs.45000

But When the Bill is Generated Today I found they sent me Credit Card bill of 50k , Is Axis the Only Bank who does this

or their are other banks too. What should we do in this Case, Will Contacting the Bank be of any help ?


Please share your knowledge so I can add the Details of All Banks in Deal Wiki and it will help other too

to PrePay or Not Pay for a given Bank.

Another Question I have is Do we Earn Reward Points the Next Month on Spends via the Excess Amount In Our Credit Card.

Additionally Which Credit Card Allows To Prepay the Amount and Use The Card Limit Again or Allows Over limit Usage

I heard ICICI allows prepayment and then Over limit Usage subsequently. What about BOB , had used my BOB card for MI order and now want to use it Again for Amazon Order , But the Card limit is almost exhausted .

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Talk-Of-The-Town Talk-Of-The-Town
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I do have FK Axis and done excess payment and utilized higher than the limit before bill generation . There was no issue for me after bill generation

Deal Newbie Deal Newbie
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ICICI considers pre-payment before bill generation and shows only remaining balance on bill. Not sure about Axis

Deal Cadet Deal Cadet
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Check your statement whether the pre payment is posted to your credit card before bill generation?
If Yes then bill should of 5k and you need to contact bank.
If No then you might have made pre payment 2-3 days before statement generation date and statement would have been generated before the pre payment was posted to card. In this scenario prepayment will be considered as payments against bill and you will have to pay the remaining amount only.

Note: check your payment date in credit card statement and decide based on that and Nevertheless drop an email(don’t contact over phone) to bank support with your questions and supporting evidences.

Deal Major Deal Major
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_Dracarys_ wrote:

I do have FK Axis and done excess payment and utilized higher than the limit before bill generation . There was no issue for me after bill generation

+1

Deal Cadet Deal Cadet
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Answering your another question yes you can do prepayment to release the used credit limit before the bill generation but I am not sure about over limit uses as some of the bank levy penalties even you do excess pre payment to increase your available credit limit(more than allocated credit limit)

Analyst Analyst
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navkr wrote:

Check your statement whether the pre payment is posted to your credit card before bill generation?
If Yes then bill should of 5k and you need to contact bank.
If No then you might have made pre payment 2-3 days before statement generation date and statement would have been generated before the pre payment was posted to card. In this scenario prepayment will be considered as payments against bill and you will have to pay the remaining amount only.

Note: check your payment date in credit card statement and decide based on that and Nevertheless drop an email(don’t contact over phone) to bank support with your questions and supporting evidences.

+1

Deal Captain Deal Captain
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@Dracarys @offers_123 @navkr @I_am_MrPerfect   , Thanks for your Inputs Guys , 

Please share info about the other banks you are aware of  😊

Any Idea on Prepayments On BOB

Deal Cadet Deal Cadet
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Pre pay works for every bank to release utilised credit limit and is adjusted at time of bill generation.

Next is: using over limit by making prepayment. Some banks levy penalties. I personally do not trust axis so don’t add axis in this list.
Others can provide their reviews

Hunk Hunk
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offers_123 wrote:

ICICI considers pre-payment before bill generation and shows only remaining balance on bill. Not sure about Axis

indus ind also does it

Deal Subedar Deal Subedar
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Can you tell me was the card showing -ve balance after you made pre payment ?

Analyst Analyst
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bikidas2060 wrote:

indus ind also does it

Every card does it including axis. It could be an anomaly in case of op or he may have mistaken.

Hunk Hunk
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andromeda wrote:

Every card does it including axis. It could be an anomaly in case of op or he may have mistaken.

True bhai

Deal Newbie Deal Newbie
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andromeda wrote:

+1

+2 op surely have payment one or two days ago and payment was not settled and bill generated.
Now if that was the case pls check, they must show 5k outstanding only in app

Deal Captain Deal Captain
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M.MAHI wrote:

Can you tell me was the card showing -ve balance after you made pre payment ?

Yes , Showing Negative Balance as Bill Got Generated yesterday and I got the credit message for prepayment on axis card 5 days back , but still Axis Generated bill for complete amount though the balance is negative by Rs.200 , as I paid additional amount

Kolkata Knight Riders Kolkata Knight Riders
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Prepay’d same card (Axis FK) .. reflected properly as payment in Bill, dues got adjusted as well.

@beastboy by any chance did you prepay close to the bill generation date, say within 1/2 days of it? Sometimes while bill generation banks ignore txns for 1 or 2 days.

All banks treat Prepay as a payment and adjust with their dues. Only refunds are treated differently by some banks, eg. icici clearly says that refunds are not treated as payments.
This is somewhat  to stop any misuse, say you have a 10k dues. You buy clothes of 10k value and cancel it for refund. So now that 10k refund might just be your payment for the dues and you keep carrying over dues without any interest or penalty.

Deal Subedar Deal Subedar
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Refunds are not considered as payment in hdfc. 

Critic Critic
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Ramta_Jogi wrote:

Refunds are not considered as payment in hdfc. 

Same in icici.

Deal Subedar Deal Subedar
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Any Citi credit card holders with personal experience, whether refund after bill generation will be considered as payment ?

Super Stud Super Stud
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Seinfeld wrote:

Prepay’d same card (Axis FK) .. reflected properly as payment in Bill, dues got adjusted as well.

@beastboy by any chance did you prepay close to the bill generation date, say within 1/2 days of it? Sometimes while bill generation banks ignore txns for 1 or 2 days.

All banks treat Prepay as a payment and adjust with their dues. Only refunds are treated differently by some banks, eg. icici clearly says that refunds are not treated as payments.
This is somewhat  to stop any misuse, say you have a 10k dues. You buy clothes of 10k value and cancel it for refund. So now that 10k refund might just be your payment for the dues and you keep carrying over dues without any interest or penalty.

What about refund on transaction made 6 months ago?

On 16th this month my icici statement was generated, bill is 30k.

I got refund of college admission fee (33k) today – this transaction was done 6 months ago.

Current available limit is the same as total limit assigned, 1.9L.

Deal Lieutenant Deal Lieutenant
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xxxyyyzzz wrote:

What about refund on transaction made 6 months ago?

On 16th this month my icici statement was generated, bill is 30k.
I got refund of college admission fee (33k) today – this transaction was done 6 months ago.

Current available limit is the same as total limit assigned.

Pay 30k if refund came after statement generation.

Super Stud Super Stud
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bohemian wrote:

Pay 30k if refund came after statement generation.

30k will be stuck then.

I already have 3-5k stuck in two different cards (HSBC and Axis). That amount was less, so manageable. 
Is there any other way to deal with this 30k transaction ? 

Deal Lieutenant Deal Lieutenant
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xxxyyyzzz wrote:

30k will be stuck then.

Use it to trasfer to bank at minimal charges and pay that amount back as credit bill payment.  Like rent pay etc.

Super Stud Super Stud
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bohemian wrote:

Use it to trasfer to bank at minimal charges and pay that amount back as credit bill payment.  Like rent pay etc.

Yes, that’s one way, College already deducted 1k as an Admission withdrawal fee. Getting that into Savings account will cost me another ~500. 😅

I am pretty F-ed. 
Expecting another refund of around 35k from another college as an admission fee refund.


Ok, let’s say I pay 30k.

And then chose to close that card, will the bank refund me the excess 30k that I’ve paid them.

Deal Lieutenant Deal Lieutenant
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xxxyyyzzz wrote:

Yes, that’s one way, College already deducted 1k as an Admission withdrawal fee. Getting that into Savings account will cost me another ~500. 😅


Ok, let’s say I pay 30k.
And then chose to close that card, will the bank refund me the excess 30k that I’ve paid them.

If you close they will generate new statement on closing request,  then your due will be settled automatically. Nothing needs to be paid. That’s my understanding

Deal Cadet Deal Cadet
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xxxyyyzzz wrote:

Yes, that’s one way, College already deducted 1k as an Admission withdrawal fee. Getting that into Savings account will cost me another ~500. 😅

I am pretty F-ed. 
Expecting another refund of around 35k from another college as an admission fee refund.


Ok, let’s say I pay 30k.

And then chose to close that card, will the bank refund me the excess 30k that I’ve paid them.

Pay the amount and then call or chat with cc to get excess amount back to any bank even if u don’t have saving account with them

Deal Cadet Deal Cadet
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bohemian wrote:

If you close they will generate new statement on closing request,  then your due will be settled automatically. Nothing needs to be paid. That’s my understanding

No need to close , just pay and then ask cc to transfer excess amount .. axis will surely do .. they will just ask for debit bank stmt (from which account u paid it or any bank stmt or cancelled cheque )

Deal Lieutenant Deal Lieutenant
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dark.demon wrote:

No need to close , just pay and then ask cc to transfer excess amount .. axis will surely do .. they will just ask for debit bank stmt (from which account u paid it or any bank stmt or cancelled cheque )

But Its icici, one can try this also

Super Stud Super Stud
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dark.demon wrote:

Pay the amount and then call or chat with cc to get excess amount back to any bank even if u don’t have saving account with them

Is ICICI cc reliable for such queries?
 
Most of them lie and they all give varied answers (I experienced this while trying to get MMT Plat. Three straight out lied I am not eligible for any more cards, one only offered me to choose between paid Rubyx and Sapphiro, one good soul gave me MMT Plat without much fuss)


Deal Cadet Deal Cadet
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xxxyyyzzz wrote:

Is ICICI cc reliable for such queries?
 
Most of them lie and they all give varied answers (I experienced this while trying to get MMT Plat. Three straight out lied I am not eligible for any more cards, one only offered me to choose between paid Rubyx and Sapphiro, one good soul gave me MMT Plat without much fuss)


I hold icici card , yes I agree they give unrealiable answer but they will also refund excess amount.

Just use email channel

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