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Why do returns take so long to be credited to your credit card accounts?

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This is the first time I remember seeing a pending credit (that isn't a payment) on any of my cards.


The actual hotel stay was billed along with a few dozen others to the meeting organizer's credit card. 


When I checked in the hotel authorized $147.88.  $129.75 is the unused portion of the authorization (I charged an ~$18 lunch to my room shortly after checking in).



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