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Hi everyone,
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I'm trying to understand how security deposit reversals work with credit cards in the UAE.
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Whenever I rent a car from Thrifty (the transaction appears as Khalifa Rent A Car on my ADIB credit card), they place a security deposit hold of AED 1,000 on my card. When they do this, my available credit immediately decreases by AED 1,000, which makes sense.
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About 30 days later, I receive a notification from ADIB saying:
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"Trx. of AED 1000.00 on your card is Reversed."
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My question is:
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If the AED 1,000 was deducted from my available credit when the security deposit was placed, shouldn't my available credit increase by AED 1,000 again when the transaction is reversed?
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I can see the reversal notification, but I don't clearly see the AED 1,000 being added back anywhere. I also don't see a refund transaction in my card statement.
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Has anyone who rents regularly from Thrifty/Khalifa Rent A Car experienced the same thing?
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Does the reversal simply release an authorization hold without showing as a refund?
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Where exactly should I see the AED 1,000 come back?
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Is it reflected in available credit only, or should it appear in the statement as a credit transaction?
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I'd appreciate hearing from anyone who has dealt with this before, especially with ADIB cards or UAE car rental companies.
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