But still, you want to check in on your account regularly to make sure you don't wind up with a negative balance. Ultimately, nothing really happens if you have a negative credit card balance. What happens if you have a negative balance? You have fees canceled: If you have interest charges, annual fees or late fees waived, but you already paid down that amount, you can wind up with a negative balance.You have a fraudulent charge removed after paying the disputed amount: This can happen if you pay off your balance.You overpaid your statement balance: If you accidentally overpay your statement balance, your balance will end up in the negative.
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You may have paid off your balance in full without considering a potential credit. You earned a statement credit: If you redeem credit card rewards for a statement credit, you could get a credit that exceeds your current balance.You got a refund: If you received a refund for a purchase but had already paid off your monthly balance, your balance will be negative.Reasons why you might have a negative credit card balanceĪ negative credit card balance can happen for several reasons, a few of the most common are listed below: Once you spend $50, whether on one or multiple purchases, your balance will be zero. Say you received a credit of $50, and your balance is now - $50. Make a purchase: This is the easiest way to resolve a negative balance.You can also ask for a check, money order or cash. The Chase Freedom Flex card has a wide range of MasterCard benefits and. Request a deposit: Check with your credit card issuer to see if you can request the negative balance amount to be deposited to your bank account. Intro 0 APR for 15 months on purchases and balance transfers (after that 20.24.Contact customer service: If you're not sure why you have a negative balance, contact your credit card issuer for an explanation.But there are a few simple actions you can take if that will give you peace of mind: If you notice you have a credit card with a negative balance, don't fret. What to do about a negative balance on a credit card You returned the dress, and the $25 is credited back to your account that has a zero balance. A common example is if you make a purchase with the card and later return the item, where you then are issued a credit back to your account. Typically, this happens when you've overpaid your outstanding balance or if you've had a credit returned to your account. This means that your credit card company owes you money instead of the other way around. It appears as a negative account balance. So, what about a negative credit card balance? What is a negative credit card balance?Ī negative credit card balance is when your balance is below zero. If you carry a balance, you'll have to pay interest on that amount.
If you completely pay off your statement balance by the due date each month, your balance will be zero. The balance on your credit card represents the amount you owe after using your card to make purchases.
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