Balance Transferred too much!

Miss_J

Over just been accepted for a new credit card with 29 month interest free promo rate for Balance Transfers.  I accidently confirmed a Balance transfer amount from another card to this for £500 more than is outstanding on the card.  What will happen with there being a positive balance on the card?

[Deleted User]

It may sit there as a credit, or the card may return the whole amount to the originating card.  In extreme cases, the card may be closed, though it's unlikely for a relatively small credit.

[Deleted User]

I've done this by mistake with a card (Halifax) where the payment was made after the statement, so they took the balance as well as having the BT payment so card was in credit, I simply spent the credit down and no-one had any problems Your mileage may vary of course.

hugheskevi

The last time this happened to me was earlier this year, due to MBNA changing the terms of money transfers on an old account. This resulted in a large positive credit balance on the account following a balance transfer (which I would previously have money transferred out to my bank account). MBNA were happy to send the positive balance to my bank account without any charge. I've done the same before with other companies, but that was many years ago.

yksi

I've done it myself by accidentally transferring to the wrong credit card. The card ended up in credit. I just spent it down as normal until it was back at 0 and the bank never said a word. In my case it was only a few hundred pounds.

CRISPIANNE3

Miss_J said:

Over just been accepted for a new credit card with 29 month interest free promo rate for Balance Transfers.  I accidently confirmed a Balance transfer amount from another card to this for £500 more than is outstanding on the card.  What will happen with there being a positive balance on the card?

Hopefully it is not Barclaycard because they take a very dim view of going into credit.

vixx_123

I did this by £150ish when balance transferring from Halifax to TSB. I used the positive balance on the old Halifax cc to pay for a few week's worth of shopping until it went negative again, and then paid the couple of pounds so balance was £0 to close account.