Thursday, December 8, 2011

Having a negative current balance on a credit card?

What does it mean if say, I had a negative current balance of -$196.40. However I made all my payments on time, but paid more than the amount I had to play. Can someone help me out pls!!!|||A negative balance on a credit card usually means you paid too much; in the is case $196.40. So, you just made an interest free loan to the credit card company.





You now have the equivalent of a pre-paid card until the money runs out.|||It means you have a credit if you paid too much


It also means that the credit card company has use of that money you paid in and is getting interest on it! LOL





You can call the credit card company and request they send you a check for this overrage you paid, or you can just use the money to purchase things and not have to pay a monthly payment.|||I would try contacting your credit card company BUT it seems to me that this is due to paying more than the bill. If it truly is a credit card when it is in a positive balance that means you owe. If it's negative you don't owe anything. It's the opposite if it's your debit card that you have with the bank.|||All a negative balance means is you have overpaid your credit card and now have a balance of $196.40 that you can spend. If you want to get the money back instead, you'll have to call the credit card company and ask for it back and they'll send you a check. They'll never send it back automatically.|||You have a negative balance. That is a good thing, you paid too much. Go buy something for $196.40 and you'll be back to zero.|||You overpaid your card.


Or you returned something and you got credit a while back.


That's a credit balance.


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