Noticed Something Odd - Way to Delay Paying Bill
Sep 23, 2020, 4:00 am
#1
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Noticed Something Odd - Way to Delay Paying Bill
I've been noticing something over the years, which I think I've just confirmed. One can delay (or lessen) a payment due by making a large charge and then immediately refunding it. Here is my example:
Edit to add: This was not my intent; it's just something I noticed.
Thanks,
-BlooJoo
- My payment due (Oct 1) is ~$17,000
- Two days ago, I made a charge for ~$5,000
- Yesterday, I refunded that purchase, and I got the ~$5,000 credit overnight last night
- My payment due (Oct 1) is now ~$12,000
Edit to add: This was not my intent; it's just something I noticed.
Thanks,
-BlooJoo
Last edited by BlooJoo; Sep 23, 2020 at 4:52 am
Sep 23, 2020, 6:34 am
#3
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Ha! Not trying to trick the system. But how do you mean? I previously owed $17,000 on Oct 1. After that bill closed (Sep 7, I think), I charged and immediately refunded $5,000. Amex counted the $5,000 refund as a credit/payment towards the outstanding balance due Oct 1, meaning I now only owe $12,000. I realize that the additional $5,000 from the original Sep 7 bill will of course be due, but it's been pushed off to Nov 1. Just interesting...
Sep 23, 2020, 8:03 am
#4
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I think I noticed something similar when it happened with my corporate card. At the end of the day, you end up paying so I don't see a big issue, but you're right, it's confusing sometimes.
Sep 23, 2020, 8:29 am
#7
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Thank you for using your first post, eight years after joining FT, to respond here!
Sep 23, 2020, 8:30 am
#8
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Sep 23, 2020, 8:32 am
#9
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This isn't new and occurs when making legitimate purchases and refunds during the billing cycles (or you cancel an airline ticket booked and paid for earlier in the year and the refund hits) but I would assume the AMEX fraud algorithm would quickly sniff out someone doing this with regularity with apparent fraudulent intent.
With all the flight cancellations this year, this has happened to me with some regularity (flight I booked last year with AMEX Plat gets canceled, I opt to take refund vs. flight credit, refund issued to my AMEX Plat, refund amount counts against my outstanding payment balance).
With all the flight cancellations this year, this has happened to me with some regularity (flight I booked last year with AMEX Plat gets canceled, I opt to take refund vs. flight credit, refund issued to my AMEX Plat, refund amount counts against my outstanding payment balance).
Sep 23, 2020, 8:35 am
#10
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Chase closed my CSR. Why?
Sep 23, 2020, 8:50 am
#11
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I might consider downloading your statement which would have been generated a few weeks ago and seeing if its been updated from $17k to $12k payment due, or if it still reflects $17k due.
Sep 23, 2020, 8:52 am
#12
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That's what Chase appears to have done in this example which occurred inadvertently:
Chase closed my CSR. Why?
Chase closed my CSR. Why?
Sep 23, 2020, 8:53 am
#13
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Pay $12k on a statement balance of $17k, even though you had a $5k purchase and return in a subsequent return in the following statement period.
I might consider downloading your statement which would have been generated a few weeks ago and seeing if its been updated from $17k to $12k payment due, or if it still reflects $17k due.
I might consider downloading your statement which would have been generated a few weeks ago and seeing if its been updated from $17k to $12k payment due, or if it still reflects $17k due.
Sep 23, 2020, 8:55 am
#14
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Wait, I said that happened to me for my corporate card, but on my personal Platinum, I am pretty sure that all refunds are counted to "reduce" the amount I need to pay but autopay gets the whole amount and I never have this situation.
Are you doing manual payments? If so, I would still pay the remaining portion of the $12K on time. That's what autopay would do.
Now that I think about it, the corporate card is not on autopay, hence the behavior I described.
Are you doing manual payments? If so, I would still pay the remaining portion of the $12K on time. That's what autopay would do.
Now that I think about it, the corporate card is not on autopay, hence the behavior I described.
Sep 23, 2020, 8:58 am
#15
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