Have overpayment on C/card,statement shows as a 0 Balance,

[Anonymous]

Hi,have a overpayment to C/card and statement shows as a $0 balance,with full available credit limit,the overpayment shows as a negative amount $123.00 which is a chargeback for a returned item,how does this reflect in the credit report?

[thornback]

It will report as a $0 balance.

[Anonymous]

This is a very common question, and I don't get why!  Do people think something bad would happen even if a -ve balance was reported

[Kforce]

1) It will report as a zero balance to the credit reporting agencies.

2) If it is a card that you use monthly, it will just go from the green (credit on books) into the red (debt)as you use it.

3) If it is a card you rarely use, you can request they send you a refund check by calling them.

4) Some issuers will carry the negative balance for many months, thinking you will put spend on the card and save them from sending out a check.  Others will send you a check if it sits for a month or two.

[SBR249]

By law lenders must refund any credit on your account when you ask for it. If you don't ask for it and don't spend it, then the law requires them to make a good faith effort to refund you the credit after 6 months at the latest. Most CC companies I've dealt with automatically refunds at 90 day mark by mailing a check. I think this has happened to me maybe twice in the past few years. Capital One once cut me a check for a few cents.