topic Re: Negetive Balance on Citi Forward card in Credit Cards

Negetive Balance on Citi Forward card

Anonymous — Sat, 05 Mar 2011 14:14:27 GMT

OK so what happened was I returned an item on Amazon and the refund posted last night. Well since my statement posts on Sunday I had a low balance, less then the refund. Now my card reports a negetive balance of over $100. I have no problems with them oweing me money since there are a few purchases that are going to post next week sometime and take care of them owing me anything.

What does Citi think about negetive balances? Do they look negetively on them? What will happen when they report be balance to CRA's? Will it report as negetive? Would this look good or bad?

Re: Negetive Balance on Citi Forward card

DI — Sat, 05 Mar 2011 14:22:40 GMT

Negative balance is a credit. Once your new charges post and they're over $100 the account will be back balanced again. The balance reported to the CRAs will be $0. There's nothing bad about having a credit balance with the banks.

Re: Negetive Balance on Citi Forward card

jefftca925 — Sat, 05 Mar 2011 14:40:43 GMT

@DI wrote:
Negative balance is a credit. Once your new charges post and they're over $100 the account will be back balanced again. The balance reported to the CRAs will be $0. There's nothing bad about having a credit balance with the banks.

+1 I would actually they'd like that 'cause that means you're gonna use the card and for more than what the credit balance is.

Re: Negetive Balance on Citi Forward card

Anonymous — Sun, 06 Mar 2011 17:26:06 GMT

Thanks both of you. I have heard stories on other sites about CC's being closed due credits but wanted to know what you thought. Thanks!

Re: Negetive Balance on Citi Forward card

JayRizzo — Sun, 06 Mar 2011 18:25:36 GMT

I don't think anyone is so quick to close anything when they owe YOU money. If anything, they would wait it out in hopes that you would use the card again just like the other posters replied.

Re: Negetive Balance on Citi Forward card

kbell — Sun, 06 Mar 2011 18:29:12 GMT

Once, I went 6 months with a negative balance on a Citi card. No problems.

Re: Negetive Balance on Citi Forward card

DI — Sun, 06 Mar 2011 18:40:34 GMT

@kbell wrote:
Once, I went 6 months with a negative balance on a Citi card. No problems.

As long as one doesn't owe them it's fine.