"When the credit card company receives a request to cancel a payment transaction (accommodation reservation), the company will begin the refund process to the purchaser (the person who made the reservation).
The date the purchaser (the person who made the reservation) receives their refund will depend on the timing of the cancellation request."

If the purchaser requests a cancellation before the "statement closing date" set by their credit card company, the payment will be offset (cancelled) at the timing of the "statement closing date".

Should the purchaser request cancellation after the "statement closing date" set by the credit card company, the refund amount will be settled at the timing of the following "statement closing date".