Paid Too Much Balance Transfer

whisky42

OK this sounds and in fact is really stupid, but I paid too much to my credit card on balance transfer £1600 to be precise, have since asked credit card company to refund to my bank account to no avail.Can I just use credit card to refund another card for the sum of £1600?

creditcardhelp11

Refund another card? Do you mean balance transfer the funds again. I would say do not do this because there will be an additional charge 3-5% not MSE. Instead use the card for purchases i.e. shopping (go to the sales :-)). The cc provider would generally only refund the money in the form of a cheque if you closed the account. Moreover, you may have breached the T&Cs of the account so it may be frozen anyway. This also sometimes creates a red flag for money laundering. However, it can sometimes be quite easy to overpay when balance transferring if you do not consider your minimum payment direct debit which with some providers still comes out of the account even if you make additional payments. Though £1600 is a very large overpayment in the future, just try and calculate better. If this is a M&S cc then you can get some travellers cheques at 1% I think which is not too much to lose.

whisky42

Thank you for information, much appreciated, what I meant by transferring was that I use the credit card with £1600 too much to pay my new card that I balance transferred from in first place, would maybe be cheaper in long run?
The card with £1600 pounds is Capital One and my new card is Barclaycard

chanz4

im lost...........

scott_lithgows

If your Cap 1 card is £1600 in credit,then simply close it and they have to send you a cheque for that amount or transfer it into your bank account.