Overpaid Credit Card

BlueX_2

I paid off my M&S credit card balance but overpaid as I forgot that I have been paying this balance down with direct debits and I also didn't realise that they calculate interest payments in advance. The latest statement shows a credit of of £400ish.

Can I just withdraw this as cash? Or will that show as me withdrawing cash from a credit card? I want to use this money to start paying down another credit card.

Are M&S known for making balance transfer offers to exisiting card holders? Or should I close that card down and apply for a new BT card?

Thanks for reading.

[Deleted User]

Don't withdraw as cash unless you want to pay a fee. Ask them to return it/send you a cheque or just spend it.

Ben8282

Or even simpler use the card for £400 spending.
They don't calculate interest payments in advance.

BlueX_2

Ben8282 wrote: »

They don't calculate interest payments in advance.

I only paid off the balance a few days before my statement date. Normally I have interest added to that statement, stating this is what they calcultate my interest will be based on my balance owed. This latest statment shows a credit, with no mention of any interest added as I usually got.

I had assumed that meant that they calculated the interest in advance? And that the credit baance showing on my latest statement is all my money as they won't be adding interest?

Thank you both for your help.

[Deleted User]

Interest can only be estimated in advance. It is calculated on actual daily balance and repayment dates.

BlueX_2

Are M&S known for making 0% balance transfer offers to exisiting card holders?

Or should I close that card down and see if I can get another credit card that will offer that, to pay off my other cards?

[Deleted User]

I don't have an M&S, but they're not mentioned very frequently as being a decent BT provider, unlike say MBNA or Barclaycard who are much more active in the BT area.

BlueX_2

Thanks for your help.