how does reversing payments work?

Question

i have to go through this process with my cc company this week. they said they can reverse two payments for me. how does that work?

In: 3

Answer 1

>i have to go through this process with my cc company this week. they said they can reverse two payments for me. how does that work?

They say “You don’t owe me anymore!”, take the loss and that’s it.

Remember, a credit card works on, well, *credit*. You hand a vendor your credit card, **your bank** immediately pays the vendor and then some time later, usually after a month, you reimburse the bank.

Reversing a payment simply means that the last reimbursement step does not happen.