How does getting credit back on your credit card work?


Posted January 4th, 2010 by admin 4 Comments »
credit
Dr. Bass, M.D, Ph.D asked:


Let’s say I buy something for $100. I return it and they say I will have that credit back on my credit card. So now my credit card balance is $100? What if I paid for that $100 already and then returned it and got credit back? Can a credit card have a balance and have money withdrawn from it?

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Posted in Credit | 4 Comments »

My credit card balance is over 50%. How long will it take my credit score to go back up?


Posted December 28th, 2009 by admin 3 Comments »
credit
Casey asked:


Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I’m over 50% of the balance, and I just learned that’s bad for credit scores. I expect to be able to pay off the purchase in the next two or three months. Will my credit score go back up immediately after I get the balance on my card down, or will it take a while? Thanks.

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Posted in Credit | 3 Comments »