My question is basically the Indian version of this US-based question. Another duplicate possible is this one, but it doesn't have any country tag associated with it, so I cannot go with it. This question is similar too, but it talks about a situation where the refund has not yet been made.

My credit card billing cycle starts from 10th of every month. This means that all transactions from the 10th of one month to the 9th of the next month are put under one credit card statement.

Now, say on 25th December 2021, I spend ₹x. A portion of this money (say, ₹y) is refunded to my card on 11th January 2022. But, the statement for my card has already been generated for the previous billing cycle, and that includes ₹x and not the refund ₹y.

What is the minimum amount that I have to pay to avoid being charged any interest? Can I just pay (Total due from previous cycle) - ₹y? Will the bank consider the refund as a "payment" to my card account for the previous cycle?

  • Your minimum amount due is whatever your statement says it is. The fact that a later credit appears is only relevant for the minimum payment due on your next statement. At least in the US, all payments are credits, but not all credits are payments.
    – chepner
    Jan 11, 2022 at 17:50
  • Yes, I read about that in one of the other questions. But if you see the 2nd question I linked, there is an answer by user Dheer which says that one has to pay "the lower amount, i.e. statement balance less of refund". This is why I am looking for an answer that works for India. Jan 11, 2022 at 18:25
  • I think there is no right answer here as terms and conditions might differ from bank to bank. My bank does consider refunds as payments.
    – Sachin
    Jan 25, 2022 at 15:03


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