Negative balances - effect on FICO and CR?

[Anonymous]

My Chase card for some reason got paid two times with two identical amounts from my checking account. So now I owe them negative 40 dollars. If it's still like this when the statement posts, does that show up on my credit report, or will it just say 0 balance. And any guesses on how negative balances affect FICO scores? I don't see an option to request the negative balance back into my account, so it might take another month to get it positive, since I don't use this card much.

[Lel]

Funny, I just had two credit cards with negative balances.  I was trying to PIF to maximize my scores ahead of a new car loan, but forgot that one card gives me a monthly rebate, and my DW returned some stuff on another card on the same day that I PIFed.  Both reported as zero balances on EQ and TU.  My score went up by 2 points when the number of accounts of balances went from 7 to 5, but an inquiry fell off in the same time as well.

Here's the annoying thing: one of the negative balance cards just reported a balance, and my EQ score went down by 5 points.  Oh well, I got my car loan already (new loan hasn't hit my reports yet, and inquiries were with EX).

[creditwherecreditisdue]

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@Anonymous wrote:
My Chase card for some reason got paid two times with two identical amounts from my checking account. So now I owe them negative 40 dollars. If it's still like this when the statement posts, does that show up on my credit report, or will it just say 0 balance. And any guesses on how negative balances affect FICO scores? I don't see an option to request the negative balance back into my account, so it might take another month to get it positive, since I don't use this card much.

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1) Credit balances report as zero and have the same effect on FICO scoring (or any other scoring) that a zero balance account would have.

2) CCC's do not like credit balances. If the account were left idle for a few months the most likely would automatically return the credit to you. Credit balances must disturb their books some how. You also do not get paid any interest on the credit balance.

3) If you want the money back call the CCC and ask them for a refund. They will gladly do it. The problem is that it takes time. By the time you would get the check you would probably already be paying them again,

Let it sit on the account. If they get itchy they will send it back.

[fuzzy-bear]

You probably have thought of this by now, but given the recent thinning actions of the CCC's, I would probably suggest you fly under the radar(get less attention) and just use the negative balance on something you need.

Now you have rejoined the pack, and more importantly you can get this off your mind and have kept it simple.