When a refund is processed for a Charge Card transaction, it directly affects your due amount and available limit.
How refunds affect your due amount and available limit
Refunds are automatically applied to reduce the due amount for the day.
This means your due amount will decrease, and your available limit will increase accordingly, allowing you to spend more on your Charge Card that day.
What happens if the refund exceeds the due amount?
If the refund is higher than the current due amount, the due amount can go into negative.
This results in your available limit exceeding your collateral balance.
For example:
Your available limit is USD 800.
A refund of USD 850 is received with no due amount.
Your available limit becomes USD 1,650, but your collateral remains at USD 1,000.
Note: The refunded excess is not added to your collateral. It only increases your available limit temporarily and can be used for future card transactions.
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Aspire is a financial technology company, not a bank. Banking services are offered by Column N.A. (“Column”), Member FDIC.
The Aspire Secured Commercial Charge Card is issued by Column, N.A., Member FDIC, pursuant to a license from Mastercard. Approval is subject to eligibility. Payment of the account balance is due in full daily.