cancel
Showing results for 
Search instead for 
Did you mean: 

Write off balance?

Frequent Contributor

Write off balance?

I just got my mastercard statement and listed under Payments, Adjustments and Others was...

WRITE OFF BALANCE $0.01 -

What is this?

I overpaid by a penny and somehow it looks like I owed them a penny then they wrote it off?

Is this going to hurt my score?

Amex B.C.E. - $2.5k - Amex Everyday - $5k - N.C.F.C.U.M.C. - $5k - Amex Gold - NPSL/35k P.O.T. - Discover It - $12k - Sam's Club M.C. - $10k -
Walmart M.C. - $7.5k - Citi T.Y.P. - $10k- Chase Freedom - $5k - Chase Marriott - $7.4k - U.S. Bank Cash + - $6k -
W.M. TU-781(Jan/15) Citi EQ-782(Dec/14) EX-782(Oct/14)
Audi, Vide, Tace. . .
Message 1 of 4
3 REPLIES
Valued Contributor

Re: Write off balance?

Never seen this before - call and ask. See what the CSR says. 


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 2 of 4
Frequent Contributor

Re: Write off balance?

Most creditors do this if your balance is under a certain amount, say $1.00. It's to save them from the expense of processing a payment exceeding the payment.

 

What you are seeing is the other side -- some creditors do it if you over pay too. I overpaid Kohls by $0.29 and they took it. They zeroed out the balance and the statement was $0 balance and the credit that should be there of $0.29 written off.

 

I don't think they should be able to do it when it's a credit, but perhaps they can. Or maybe its just rare enough and small enough no one has ever said anything.

 

other than loosing your penny, it shouldn't effect you.

Message 3 of 4
Frequent Contributor

Re: Write off balance?

I know it's just a penny and I'm sure someone is shaking there head as they read this, but I don't see why they would do this. I've overpaid them in the past to cover pending charges that hadn't yet posted and this never happened before.

For example, summer before last I purchased a car battery at a small shop and it took two months for the transaction to post. I had a "credit" of approximately $85.00 the entire time to prevent the card from posting a balance.

I suppose I won't be overpaying anymore because I wouldn't want to get taken for my "over payment credit" be it a penny or more...

I will be going to my branch tomorrow morning to get an explanation and I will share what they have to say with everyone here.

Amex B.C.E. - $2.5k - Amex Everyday - $5k - N.C.F.C.U.M.C. - $5k - Amex Gold - NPSL/35k P.O.T. - Discover It - $12k - Sam's Club M.C. - $10k -
Walmart M.C. - $7.5k - Citi T.Y.P. - $10k- Chase Freedom - $5k - Chase Marriott - $7.4k - U.S. Bank Cash + - $6k -
W.M. TU-781(Jan/15) Citi EQ-782(Dec/14) EX-782(Oct/14)
Audi, Vide, Tace. . .
Message 4 of 4