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How does a Credit Balance report?


How does a Credit Balance report?

Just curious; if a card closes with a credit balance, does that show up on my reports as "$0.00" or the actual credit balance?

I prepaid a card because this vendor SITS on their outstanding transactions for 2000 years before they finally hit my card. (Alaska Airlines)

Message 1 of 4
Moderator Emeritus

Re: How does a Credit Balance report?


Message 2 of 4
Legendary Contributor

Re: How does a Credit Balance report?

I assume by credit balance you mean debt balance?


Closing a credit card is an action that simply ends the ability of the consumer to make additional charges/purchases.

It does not result in update of the current balance or otherwise end ability of the creditor to continue to report derogs if the debt has become delinquent.


If a card is closed with a current balance, it will continue to report that balance until it is paid or the creditor sells the debt, and can continue to report a currrent status of delinquent and add payment history delinquencies for months where it continues to be delinquent.

Message 3 of 4
Valued Contributor

Re: How does a Credit Balance report?

@RobertEG - I think you've mis-read the OP... they are asking about a credit (overpayment) balance on an open account, and how that reports at statement close to the CRAs.


And as @gdale6 mentioned already, the answer is $0.00 - the amount of the overpayment is not reported.



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