I purchased something that was tickets for event in january on credit that was to take place in april. It cost around 1000 dollars. I paid the minimum amount x3 the next 2 bills I got, feb, march. In march the event I used credit for was cancelled and the amount was refunded to my credit company. They say I still owe interest on the amount. I asked them to show me how this was calculated and they wont do that. Their tactics are hanging up on me and ignoring my emails. They still sent the second bill warning though. What do I do? Do I really have to pay interest on this?

I dont understand how this debt they say I owe is calculated and they wont help explain it. Can anyone help explain how I owe 2x + the debt? It doesnt make sense to me

It's hard to answer. You have to look at the terms of the agreement. What was the interest rate? You were only making minimum payments so the interest debt may have increased the principal amount.

Lesson to learn: Dont buy things on credit when you can only make minimum payments to pay it off.

Read terms and conditions.

And what you wrote sounds convoluted.

Did you take the refund with the same credit card or was it refunded to another account?

If it just went to your CC balance they might see it as not a balance paid. Also a lot of those financing schemes make the min payments not add up to the full total and if the total isn't paid then the interest is charged for the full amount of the loan.

You owe the interest. They use average daily balance to calculate interest and while you're paying minimum balance on the card in Feb. and March the interest is still accruing and adding to your total balance.

Your credit company is the one saying you owe interest, right? Not the venue/event organizer?

Assuming it's the CC company, you're probably stuck with paying the interest.

I would encourage you (and anyone for that matter) to call their banks to talk about fraudulent charges/bad charges/whatever when things like this come up. A decent bank will be helpful or at the very least informative. If your bank is neither, find a new bank.

I paid the minimum payment x3. I paid 3x the minimum 3x february march april, got refunded in march and asked how do I still owe. I kept paying payment and planned on paying it off in 5 months payments. 5 payments. I bought something that was probably stupid to some but a once in a lifetime thing to me. the advert said I owed no interest if payment was made on purchases within 12 months but they said my purchase does not qualify for that. i dont care I just want to pay it off but I feel the amount is wrong now since I have been refunded in march for the thing. They got their money back and I paid 6x months worth of minimum payment. I tried to get them to send me how they calculated how much I owed but I keep getting rude people that wont explain it to me and keep hanging up. IDK what to do

I have a Chase Sapphire Reserve Card and whenever I think there is a fraudulent charge, something seems off, I have a question, want a lower rate, etc. they always answer the call and help me out.

I'm guessing you essentially borrowed $1,000 for 3 months, and by only paying the minimum balance, you accrued interest over those three month, which is what they are asking for now.

When I think about this scenario, I don't think you would owe anything, and you should have a small credit balance. The bank loaned and got back their $1,000. You still paid money towards the bill and if anything your 3x minimum payment would have grossly outweighed the interest you gathered for those 3 months. So if anything, you should be owed money by the credit card company, which typically gets tacked on as a small spending fund. If you paid something off in full, and then you got a refund for it, the refunded amount would become almost like a gift card. You could spend the money without having to worry about anything.

Edit: I did some math, and honestly we can't fully help you unless we know the rates, minimum balance, etc. I've calculated a few possibilities, but it would come out to like $30ish dollars that you would owe. If I was you, I'd just pay it, close my account, and find a better credit card company.

I paid 3 times the minimum payment. Each time.

I should have paid the thing in cash. I had the cash. Fuk these scam companies. Really makes me wanna rage on who owns this company. Oh well. This is their game and I agreed to play it. But still doesnt make them not garbage

Tell them to get the fudge out

Go read the terms. Does your purchase qualify?

I read it and I dont understand it all. What I did understand was the button that said no interest if paid in full within 12 months. 19.5% interest if not. Well it wasnt interest free. I paid 3x min payment for feb. march. april. Noticed original thing was refunded and wondered why I was still showing a bill for it. Emailed them, nothing. Called. No explanation other than you owe this. I said no I do not. Tried many many times to get a written out explanation of what I owe and how it is calculated. Cant get it.

All I get is indian people that seem pissed off as soon as they answer the phone