topic Re: Balance on CC in Credit Cards

Balance on CC

Anonymous — Thu, 02 Jan 2014 02:27:18 GMT

So I pay off my Credit card but decided to return an item I purchased about a month ago. Now my Balance shows -60.00

Should I buy something and get it to $0? leave it alone? does it hurt/improve my score?

And Happy New Year all !

Re: Balance on CC

Anonymous — Thu, 02 Jan 2014 02:34:37 GMT

I'm pretty sure if your balance is in the negatives, it means the CCC owes you money.

Re: Balance on CC

Anonymous — Thu, 02 Jan 2014 02:35:29 GMT

@Anonymous wrote:
So I pay off my Credit card but decided to return an item I purchased about a month ago. Now my Balance shows -60.00

Should I buy something and get it to $0? leave it alone? does it hurt/improve my score?

And Happy New Year all !

It will be reported as $0, so it doesn't hurt or improve your score more than having no balance.

Don't buy something just to get rid of the credit. If you use the card often, it will reduce your next bill. If you aren't planning to use the card for a while, you can request a refund and they will send a check. Some issuers do this automatically after a short period.

Re: Balance on CC

colinstu — Thu, 02 Jan 2014 02:40:48 GMT

Do whatever you want. It doesn't hurt to have a negative balance (but then again you're letting the CC company keep your money interest free). Doesn't hurt your score. Don't buy anything you don't actually want.

You can ask them through the phone or online message to credit the balance back to you. With Citi I was able to have them credited right back to my checking account, but I've heard they can send checks too. Not sure if all creditors can take care of this for you or not, but the big ones can.

Re: Balance on CC

FinStar — Thu, 02 Jan 2014 02:54:22 GMT

@Anonymous wrote:
@Anonymous wrote:
So I pay off my Credit card but decided to return an item I purchased about a month ago. Now my Balance shows -60.00

Should I buy something and get it to $0? leave it alone? does it hurt/improve my score?

And Happy New Year all !
It will be reported as $0, so it doesn't hurt or improve your score more than having no balance.

Don't buy something just to get rid of the credit. If you use the card often, it will reduce your next bill. If you aren't planning to use the card for a while, you can request a refund and they will send a check. Some issuers do this automatically after a short period.

And what colinstu mentioned as well.