Balance Transfer Greater than Outstanding Balance

House13

Hi I recently did two Balance transfers from one credit card which exceeded the outstanding balance so essentially the card is now in credit. Any issue with this?

Thanks

Ebe_Scrooge

It's generally against the T&Cs to deliberately put a card into credit.  Give the card issuer a call and request a refund of the excess.  Or, if it's not a large amount, simply buy something on the card to that value or slightly higher, then repay the full statement balance (if any) when the next statement arrives.

Depends on the amount.  Most cards will tend to overlook a small credit balance, but if it's for a large-ish amount they'll usually give you a refund automatically.

House13

Thanks. I tried calling but was on hold for 40 minutes before I gave up.

Ebe_Scrooge

So how much is the credit balance?  If it's a substantial amount, most cards will issue a refund automatically.  If it's a small amount then it's probably simplest to just spend it (use that card for your next weekly grocery shop or tankful of fuel, then pay any remaining balance in full when the statement arrives).

House13

3500. Will wait and see what they do.

Ebe_Scrooge

House13 said:

3500. Will wait and see what they do.

Ah right.  For that amount I'd expect them to refund automatically - or, at the very least, contact you and ask you whether you want a refund, and if you don't then "please spend it as soon as possible".