Your checking account is a liability from the bank’s POV. Your credit card account is an asset from Visa’s POV. And a liability from your POV. When Visa refun

Your checking account is a liability from the bank’s POV. Your credit card account is an asset from Visa’s POV. And a liability from your POV. When Visa refunds that fee, it reduces their asset. And on your books, it reduces your liability. A debit on your books is a credit on the counterparty’s books. A plus on your books is a minus on the counterparty’s books.