How do Credit Card refunds work?

U could call in to the credit card hotline to tell them u r expecting a refund from the merchant.

the cc CSO would prob tell u the late and interest fee will prob kick in automatically if u dont pay but u could tell them to flag this in for u and call in for a waiver the month after.

Yes, you will need to pay for the 1k. It depends if the 1k refunds come before or after your payment due date (credit/debit)