How do I get a refund?
If you would like to request a refund, please reach out to your merchant directly to have them authorize the refund on your order.
They can let you know if a refund is possible on your particular order and how much the refund will be, according to their return policy.
If working with a merchant partner (offers Credit Key at checkout or via their sales rep), the merchant can issue the refund directly to your Credit Key account. Alternatively, the merchant team can email support@creditkey.com directly with a credit memo or confirmation of the total amount of the refund if they find they need our assistance in processing the request.
Once we receive a notice of a refund from your merchant and only once this confirmation is received, we will then apply the confirmed refund amount to your loan.
*Please note that borrowers are still responsible for making on time payments to their loans while any refunds are being processed by Credit Key. Any payment overages identified once the refund is processed will either be refunded to the banking institution on file, or will be applied as payment to any outstanding loans within a borrower's Credit Key account.
Credit Key follows the merchant’s refund policy. Credit Key will NOT issue a refund on a loan without written authorization or a credit memo directly from the merchant partner.
For Credit Key Anywhere Orders
If your refund has been approved by your Credit Key Anywhere merchant, the merchant must reimburse Credit Key with a bank transfer or by check for the refund prior to refunding the loan. If your merchant authorizes Credit Key to pull back the funds via bank transfer, please allow 2-3 business days to receive the funds. Once the funds are received, the refund will be applied to your loan.
*PLEASE ALSO NOTE*
By placing an order using Credit Key Anywhere, you waive the right to dispute payment owed to Credit Key due to any unfulfilled, incomplete, or fraudulent orders by the merchant. No exceptions. Orders paid via Credit Key Anywhere can't be disputed since Credit Key does not have an established partnership with the merchant.
For Virtual Card Orders
Please have your merchant refund your virtual card directly, then reach out to support@creditkey.com to notify Credit Key. Virtual card refunds may take 1-2 business days to be reflected on the card. Once the refund is confirmed, the amount of the returned funds will be applied to your loan.
Please note that disputes regarding any Virtual Card charges are managed by our Virtual Card partner, Stripe and can take up to 90 days for determination.
How do refunds get applied?
The way the refund is applied to your loan will depend on if you received a full or a partial refund.
1. If you received a full refund, Credit Key will cancel the loan and no further payments will be taken.
2. If you received a partial refund, the partial refund amount will be applied to your loan and once applied, our loan management system will reevaluate the monthly payments and interest to be incurred and automatically adjust the loan as needed. Once this partial refund is applied, any adjustments to the loan can then be viewed within the borrower portal by logging in.
To check on an updated payment schedule, please access your Borrower Portal at any time.
How will my payments be refunded?
If your loan was refunded in full and there have been payments made on the loan, Credit Key will refund the payments minus any interest paid back to your connected bank account within no more than 30 business days of receiving the initial refund request by the merchant.
If your partial refund is greater than your balance owed on the loan due to payments that have been made, Credit Key will refund the difference minus any interest paid back to your connected bank account within no more than 30 business days of receiving the initial refund request by the merchant.
Do I still have to make payments?
Yes! ✔️
Please continue to make any monthly payments that are due until your merchant authorizes the refund on your order to avoid any penalties and to keep your account in good standing.
Refunds take time. It is not uncommon for a merchant to take weeks to process a return, so please be patient.
We will update your loan as soon as the merchant finalizes the return on their side and notifies Credit Key.