Negative Statement Balance Question

[adelpit]

I have a credit card with a negative balance, and the statement will probably close with a negative balance, because of a sizable refund from a vendor. If it matters, it's on a Chase Amazon card.

Do credit card companies report negative statement balances to FICO? Are negative balances SUBTRACTED from my total utilization for the period?

[SouthJamaica]

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@adelpit wrote:

I have a credit card with a negative balance, and the statement will probably close with a negative balance, because of a sizable refund from a vendor. If it matters, it's on a Chase Amazon card.

Do credit card companies report negative statement balances to FICO? Are negative balances SUBTRACTED from my total utilization for the period?

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No and no. They are simply reported as zero balances.

[adelpit]

Hmmm, not the answer I wanted to hear. Thanks for the quick response!

[Anonymous]

Also keep in mind that some lenders will actually send you a check for the amount of the negative.  I'm not sure if Chase is one of them (Capital One is, for example) but you may receive a check in the mail.

[adelpit]

True! Synchrony Bank has sent me checks for 11 cents for "rewards" earned on my Walmart credit card!

[HighAchiever]

That usually occurs when the credit has been sitting there for 30, 45, 60, 90 days etc... IMO, it is silly for them to send a check out for 11 cents. I guess if people don't cash them and they expire, the bank or company has possibly made money in the process. In either case, to avoid this, just make a purchase with the card. Which is probably the idea also... to get you to swipe and then they make money either way.    🤔

[HighAchiever]

Oh yeah, welcome new member to the forum!!!    😎

[adelpit]

I agree that the idea is to void the "reward" by mailing checks that get lost, tossed or uncashed, though mailing an 11 cent check presumably costs them over 11 cents. Synchrony Bank, Walmart and their infernal IBM cash-registers—a marriage made in hell!

Not to change the subject but, are those little badges at the bottom of many posts here showing credit scores a perk for signing up for a MyFICO package? I need to know because I'm a member of the 800+ club and I'd like to prove it to forum members. I know how I did it, have wisdom to share. My goal being here is credit nirvana—a perfect 850 score.

[HighAchiever]

To add a signature just click the link and go from there, but keep in mind that you have to have a certain number of posts and activity to get to be able to add it...   😎

 https://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/m...

[Anonymous]

For my credit card experiences no negative balance reporting. The bureaus have showed zero.