Will Chase or Amex Cancel Over a Negative Balance?

[Anonymous]

I two cards that have negative balances on them due to Christmas returns. One is a Chase Freedom with about -$650, and the other is an Amex Platinum with about $-100. I am not planning on spending anything on these cards for the next 2-3 months because I am trying to hit the sign-up bonus on the CSR. Am I running any risk here? I don't mind giving them a free loan for a short while, I just don't want my accounts closed.

[simplynoir]

Did you want to keep the negative balances there? Because you can always request a check or deposit for the balance from both of them

[M_Smart007]

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@Anonymous wrote:

I two cards that have negative balances on them due to Christmas returns. One is a Chase Freedom with about -$650, and the other is an Amex Platinum with about $-100. I am not planning on spending anything on these cards for the next 2-3 months because I am trying to hit the sign-up bonus on the CSR. Am I running any risk here? I don't mind giving them a free loan for a short while, I just don't want my accounts closed.

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@Anonymous,  No they will not close them. You are a OK

[wasCB14]

Not sure if it has ever happened to me with Chase, but with Amex...

1. I accidentally paid a balance twice (one manual, one automatic payment). Amex sent me a paper check in the mail when the negative balance remained on the next statement (it was under $10).

2. I returned a large purchase (~$2,000) and called Amex. They had no difficulty in returning the funds to the account I had pulled the payment from within a few days.

[bourgogne]

guess it would be profile specific like most things but they have not closed me.  have 9 chase cards 4 consumer and and overpay them all the time, they could care less.  for me.  they will automatically send a check in 60 or 90 days so there is that. 

EDIT, duh also amex, 5 cards 1 consumer.  just paid all chase and amex cards today and overpaid all but 2.  I just love even amounts

[Rudy1]

I don't have Amex but would really love to get them when I am out of the garden but I overpay on card a lot for example my Bloomindales card and they just send a check or if you use your card the negative credit gets applied toward the purchase.

[I_Love_Cards]

If you have another AMEX (that has or will have charges), you can transfer the credit to that account.  I paid an AF that was later refunded - resulting in a credit balance on that card.  I transferred the credit amount to a different card (that had some charges).

You can also request they refund it.  

I have no idea about Chase.  I've not overpaid them

[FieryDance]

You will be fine.

I currently have over $7,000 negative balance on 2 cards (long story), made one quick phone call, and the credit will be credited to my checking account.  Apparently it happens more often than I thought. 

[Anonymous]

Generally it's not a problem, and the issuer is required to issue to refund after a certain time (many months).  Still waiting for Amex to send me ~$40 I have on one card.

Two more difficult cases:

1) Return was on a purchase used to earn a SUB and the earn period has now expired.   That might attract attention.

2) If the balance is large and happens frequently (both terms to be defined by issuer!)   That might also attract attention but could be determined harmless.

[Revelate]

Above posters are correct and I overpay Chase anytime I'm getting pretty.

Never been an issue, don't expect it ever will be.  Remember if you overpay you're giving them what amounts to a loan for free... in my case it winds up being like 3 days before new transactions blow it away but FI's in general aren't going to quibble about it.

I did have one, I think it was USAA, who sent me a check within like 2 months one time but they still didn't close the account.