CC Balance is negative, what next?

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Elijahmex
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CC Balance is negative, what next?

Postby Elijahmex » Sun Dec 27, 2015 10:09 am

So I did all my christmas shopping earlier this month and PIF so my balance was obviously 0$. Today I returned an item for 93$.

Let's say I was planning on getting rid of the cc and closing the account and my balance is negative, what are the options?
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kdm31091
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Re: CC Balance is negative, what next?

Postby kdm31091 » Sun Dec 27, 2015 11:12 am

Theyd probably just send you a check or you can just spend the money for free and close it when the balance becomes zero.

Elijahmex
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Re: CC Balance is negative, what next?

Postby Elijahmex » Sun Dec 27, 2015 11:44 am

kdm31091 wrote:Theyd probably just send you a check or you can just spend the money for free and close it when the balance becomes zero.


Yea I would much prefer a check as I don't see it as "spending the money for free" since I paid for the item.
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kdm31091
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Re: CC Balance is negative, what next?

Postby kdm31091 » Sun Dec 27, 2015 12:14 pm

Right, depends how you look at it. Either way im sure theyd be willing to send a check.

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CarefulBuilder14
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Re: CC Balance is negative, what next?

Postby CarefulBuilder14 » Sun Dec 27, 2015 12:16 pm

Elijahmex wrote:
kdm31091 wrote:Theyd probably just send you a check or you can just spend the money for free and close it when the balance becomes zero.


Yea I would much prefer a check as I don't see it as "spending the money for free" since I paid for the item.

Are we talking about a store card or something that doesn't use a major network? Some card with a big AF looming?

I mean, how long could you go without spending $93 on basic necessities?

ETA: Spending $93 on the card might not be optimal as far as rewards, but it is a simple solution.
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Re: CC Balance is negative, what next?

Postby Tubpbs » Sun Dec 27, 2015 1:29 pm

I would wager the answer is in your cardmember agreement. I could see some resistance to both closing a card with a negative balance and getting a check issued but I could be wrong... But along the lines of what CarefulBuilder said, assuming it will take a month or two for the entire process, you would also have to intentionally resist every urge to not put some sort of regular series of necessities on the card to clear the negative balance...
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Elijahmex
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Re: CC Balance is negative, what next?

Postby Elijahmex » Sun Dec 27, 2015 2:48 pm

CarefulBuilder14 wrote:
Elijahmex wrote:
kdm31091 wrote:Theyd probably just send you a check or you can just spend the money for free and close it when the balance becomes zero.


Yea I would much prefer a check as I don't see it as "spending the money for free" since I paid for the item.

Are we talking about a store card or something that doesn't use a major network? Some card with a big AF looming?

I mean, how long could you go without spending $93 on basic necessities?

ETA: Spending $93 on the card might not be optimal as far as rewards, but it is a simple solution.


True it's a simple solution however I'm leaving for Europe on Tuesday for a couple of weeks and I'd just like to get this out of the way.

It's a Capital One Quicksilver MasterCard. Just got new CC's with much better rewards so I just want to see what my options are.
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augiedog
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Re: CC Balance is negative, what next?

Postby augiedog » Sun Dec 27, 2015 2:51 pm

Credit cards vary in terms, but generally if there is no activity in 3-6 months on the card they will send you a check for the balance. If you plan on closing it, they will send you a check once it's closed. If you would rather leave the card inactive, you can call and request a check.

Of course, you can always spend against your credit balance.
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Re: CC Balance is negative, what next?

Postby takeshi » Mon Dec 28, 2015 9:09 am

Elijahmex wrote:Let's say I was planning on getting rid of the cc and closing the account and my balance is negative, what are the options?

Call your creditor.



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