Hope this helps 16 April 2022 at 9:01PM in Debt-free wannabe 3 replies 501 views

Phil_M_72

Having moved my CC debts to the small remaining mortgage (BTW I know there are mixed views on this - that is not the point of this post) - I ended up £41.88 in CREDIT on one of the credit cards (I claimed back some of the cash-back they have been stashing for years).  

Anyhow - rather than picking up the card and buying something with it (which would mean USING the card again) I looked to cash transfer into my bank.  NOPE - minimum transfer and a fee of 0.99%.  Scr*w that!!!

So I purchased £41.88 of Amazon Vouchers with the credit (basically just loading my account).  I can now use as and when - and when my balance hits 0 that card can be closed for good - hope that idea helps someone in that position avoid picking up the card to "spend" again.  

Two more cards to finalise (Barclaycard with around £15 left and Santander with £11 left to pay) - both to be cleared by DD in next day or so - then closed permanently...

mark55man

I find a couple of trips to the petrol station is good for the odd +ve balance eg after a refund etc.  especially good if you get it bang on the money - although at the rate the numbers on the pumps spin by that's getting harder

Phil_M_72

mark55man said:

I find a couple of trips to the petrol station is good for the odd +ve balance eg after a refund etc.  especially good if you get it bang on the money - although at the rate the numbers on the pumps spin by that's getting harder

I get that - However, having done what I have done I felt "using" the card like that would have defeated my objectives.  So transferring to Amazon worked.  Besides apparently we NEEDED new plates etc so the OH has now spent it 😂😂 (from Amazon).   

kaMelo

In theory you should not have a positive balance on a credit card but it can happen due to refunds/cashback etc  As it shouldn't normally happen there is no automated way to get that positive balance transferred to your bank, you just have to call them and they would arrange a credit refund, no fees and no need to spend it either.