What is a credit balance refund on the Deserve EDU? This question is about the Deserve® EDU Mastercard for Students

What is a credit balance refund on the Deserve EDU?

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This question is about the Deserve® EDU Mastercard for Students

Chip Lupo, Credit Card Writer

@CLoop • 01/20/22 This answer was first published on 01/20/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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A credit balance refund on the Deserve® EDU Mastercard for Students is a reimbursement for paying more than the total balance owed on the credit card. For example, a cardholder who has a balance of $500, but pays $600, can get a credit balance refund of the $100 that they overpaid. Cardholders can request a Deserve EDU credit balance refund: by sending a written request to Celtic Bank, 268 South State Street, #300, Salt Lake City, Utah 84111.

Legally, a credit card issuer is obligated to issue a credit balance refund within seven business days of your request for one. Please note that you are not required to request a credit balance refund if you overpay your Deserve EDU credit card. If you have a negative balance on your account, meaning you’ve paid more than you owe, future purchases will be credited until the balance is back to zero. If you maintain a negative credit balance for six months, Celtic Bank is required to offer you a refund.

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What is the Deserve EDU interest rate?

The Deserve® EDU Mastercard for Students interest rate is 22.99% Variable. This Deserve EDU card interest rate is variable, meaning it can change based on certain economic conditions.

Deserve EDU gives you a 23-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your Deserve EDU card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.... read full answer

All Deserve EDU card interest rates will be listed on your statement and on your online account summary.

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How can I get a Deserve EDU cash advance?

You cannot get a Deserve EDU cash advance because this card does not allow cash advances at all. While you can’t get cash from this card, you can use the Deserve EDU for purchases wherever cards on the Mastercard network are accepted.

The fact that Deserve EDU cash advances are not an option might actually be a blessing in disguise. ... read full answer Cash advances are very expensive, thanks to a cash advance fee and a separate cash advance APR that apply as soon as you withdraw the cash. There may also be ATM-owner fees, depending on where you make the cash advance.

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How much is the Deserve EDU foreign transaction fee?

The Deserve® EDU Mastercard for Students foreign transaction fee is $0. This means you won’t be charged extra anytime you use the Deserve® EDU Mastercard for Students card outside of the United States. This applies whether it’s a purchase at a physical location in a foreign country or an online transaction through an internationally-based merchant.

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