Amex cashback scenario question

NoodleDoodleMan

Hopefully some helpful member(s) can advise on the following.

I have £75 (ish) accrued cashback on the Everday Cashback Credit Card due to be paid late July.

We are very unlikely to use these cards in the next month or two and I just wondered how Amex will action the refund if the balance due is less than this amount at the appropriate date.

Will they allow the account to go into "the black" - or can I opt to have the funds directed to a bank account ?

SacredStephan

NoodleDoodleMan said:

Will they allow the account to go into "the black"?

The cashback will be credited to your account.
You haven't done anything wrong - don't worry about it.

NoodleDoodleMan

SacredStephan said:

NoodleDoodleMan said:

Will they allow the account to go into "the black"?

The cashback will be credited to your account.
You haven't done anything wrong - don't worry about it.

In theory a credit card should not have a positive balance, that's againgst the Ts&Cs is it not ?

However in my experience the CC company will allow a modest + balance for a while until it runs back into an "in the red" amount.

It appears that the one CC which adheres to the no "in the black" status is the Marks & Spencer card - a couple of times I've had a standing order or direct debit bounced back because if paid the account would achieve a positive balance.

I was just wondering if that scenario might occur with Amex ?

sausage_time

Does not seem to be a major issue for Amex:

https://www.americanexpress.com/uk/customer-service/faq.credit-balance.my-account-balance-is-in-credit.html

Nasqueron

NoodleDoodleMan said:

SacredStephan said:

NoodleDoodleMan said:

Will they allow the account to go into "the black"?

The cashback will be credited to your account.
You haven't done anything wrong - don't worry about it.

In theory a credit card should not have a positive balance, that's againgst the Ts&Cs is it not ?

However in my experience the CC company will allow a modest + balance for a while until it runs back into an "in the red" amount.

It appears that the one CC which adheres to the no "in the black" status is the Marks & Spencer card - a couple of times I've had a standing order or direct debit bounced back because if paid the account would achieve a positive balance.

I was just wondering if that scenario might occur with Amex ?

Putting your card in credit deliberately will usually result in your funds being returned immediately, e.g. trying to pre-load for a purchase greater than your card limit; worst case they will close the account for breaching Ts & Cs. Accidentally doing it e.g. from a chargeback/S75 or a refund is not an issue - either spend the balance or ask for it to be sent to a bank account depending on the amount. My cashback is always applied to the balance as I never have the card empty then the next DD comes off with the balance reduced by the cashback account - this is with Lloyds though.

mrmajika

Over the years, I have had Amex cashback push my card into a positive balance; it's no issue. You can simply spend the balance or contact CS and ask for a refund to your bank. From memory, it takes about a week to get it paid into a current account.

If it's the AMEX everyday card, just ensure that you've hit the £3k minimum yearly spend otherwise you'll forfeit the accrued cashback.

NoodleDoodleMan

Thanks for guidance - Amex appear to be more "relaxed" in this situation than M&S who are frankly a pain in the rear end, as explained.

NoodleDoodleMan

An afterthought that just occurred to me - could I with withdraw the positive balance as cash from an ATM ?

Obviously I wouldn't want to take more than was in credit to avoid interest being added - and I'd need to take it to the nearest multiple of £10 at the machine.

Nasqueron

I wouldn't take cash out from a CC - even if the account is in credit you'll likely end up with fees and interest, just ask for a BACS payment

artyboy

I've had a 5 figure positive balance on my Amex (was during the pandemic, refunds for fully paid holidays getting cancelled hand over fist after the balance had been paid off...) - they couldn't care less. I just gradually spent it down...