Credit on a credit card

hayles13

I paid off a credit card by doing a balance transfer, but because I did the transfer just before my payment was due I had to make a minimum payment towards my old credit card so that it wouldn't affect my credit rating. (it takes 8-10 days for balance transfer to clear). The card is now all paid off and on a cheaper credit card now, but my old card now says I am £20 in credit (because of making payment AND balancing transfer at same time). Does this mean that if i spent that £20 (and this is my own money and not money I am borrowing from the credit card company) it would go back to normal, and they wouldn't charge me for spending my own money, or are their other factors tht I havnt thought about????

mluton

IIRC If you are in credit, just spend it down to £0.

PNPSUKNET

or ask for a cheque refund

CannyJock

hayles13 wrote: »

I paid off a credit card by doing a balance transfer, but because I did the transfer just before my payment was due I had to make a minimum payment towards my old credit card so that it wouldn't affect my credit rating. (it takes 8-10 days for balance transfer to clear). The card is now all paid off and on a cheaper credit card now, but my old card now says I am £20 in credit (because of making payment AND balancing transfer at same time). Does this mean that if i spent that £20 (and this is my own money and not money I am borrowing from the credit card company) it would go back to normal, and they wouldn't charge me for spending my own money, or are their other factors tht I havnt thought about????

Nope, it's as simple as that. It's easier to spend the £ 20 than wait on them sending you a cheque out.