2. You received a statement credit Some credit card rewards can be redeemed as a statement credit. If the statement credit exceeds your outstanding balance, you’ll have a negative credit card balance. 3. You got a refund If your credit card is paid up and you return something that was...
What is a negative credit card balance? If your balance is a negative number, the credit card company owes you money. This can happen if you get a refund for a purchase or if the credit card company applies a statement credit, such ascash backfrom a rewards program, to your account. ...
Anegative balanceon your credit card statement indicates that your card issuer owes you money. For example, this can happen after returning an item that results in a refund, overpaying your balance or receiving cash back as a statement credit from acash back credit card. Does a high credit ...
Statement credits reduce your current balance but don’t count as credit card payments. You’re still responsible for making your minimum monthly payments. Depending on your outstanding balance and total statement credits, you could end up with a negative credit card balance. For example, if you...
What is an outstanding balance on a credit card? And when is this figure different from your statement balance? The terms “outstanding balance” and “statement balance” are often used in place of one another, but they’re not the same. Read on to find out what these credit card terms...
What is a credit card balance transfer? How do credit card balance transfers work? How long does a balance transfer take? Are there balance transfer fees? Is a credit card balance transfer right for you? How much money should I transfer? Will I save money with a credit card balance transf...
A credit card balance transfer is when you movecredit card debtfrom one card to another. The new card often has a lower interest rate to make the move worth it. To understand how balance transfers work, you first need to understand the three differentinterest ratesissuers charge. ...
It includes both the principal amount you’ve charged on the card and any interest, fees, or other charges that have been added to your account. What Exactly Is a Credit Card Balance? A credit card balance is the culmination of all the charges you’ve made using your credit card. It ...
What Is a Negative Credit Card Balance? Let’s say you purchased some tennis shoes and then you returned them, after paying your balance in full. The stored credited your account with the amount you initially spent and now your credit card balance is in minus: you have – $65, for insta...