Statement balance, refunds, and negative balance

[gx240]

Can anyone explain how a negative balance from a refund affects statement balance? For example:

My last statement balance was $150.00.

I returned an item I bought a couple months ago and received a refund for $350.00.

My current balance is now negative at -$200.00.

Should I still pay my credit card company the $150.00 statement balance before the due date? Or does the negative current balance mean that I shouldn't pay anything?

What if I make a new $350.00 purchase, cancelling out the $350.00 refund? Would I then need to pay the credit card company the $150.00 statement balance before the due date?

[Anonymous]

Perhaps checking your credit card account online will clear up if you still owe a minimum payment. In the past when I've had a credit balance, I owed nothing and had no minimum payment due. Furthermore, my credit report reflected a zero balance.

[GatorGuy]

I only use auto payments and the CC company will always still take their payment.

[GMCTexas]

The account should show statement balance and current balance. If the current balance is $0 or negative you don't need to pay anything. The statement was generated while there still was a balance. The item was returned after the statement posted, taking the account into the negative, therefore the current balance -$200 means no payment needed. 

[Ficoproblems247]

Always call and check. Make sure the CSR you're speaking with FULLY understands what you're asking. It depends on the individual FI and situation for what you're describing. I have redeemed cash back to cards in the past that has brought my balance into the negative, however did NOT count toward my balance I owed and still had to pay my statement. It's always better to call for clarification that to risk a late payment. 

[OmarGB9]

My instinct would be that you don't owe anything, however, I'd suggest still making at least the minimum payment just in case.

By the way, your online dashboard should tell you if you still owe a minimum payment.

[disdreamin]

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@Ficoproblems247 wrote:

Always call and check. Make sure the CSR you're speaking with FULLY understands what you're asking. It depends on the individual FI and situation for what you're describing. I have redeemed cash back to cards in the past that has brought my balance into the negative, however did NOT count toward my balance I owed and still had to pay my statement. It's always better to call for clarification that to risk a late payment. 

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Cash back rewards from many card issuers expressly do not count toward satisfying the payment requirement, even if they bring the account into the negative. On the other hand, refunds to the card have always seemed to count as credits equivalent to a payment in my limited experience, but I'd either make the minimum payment due from the month prior as insurance or contact the financial institution for clarification.