Negative Balance on Credit Card: What It Is & How It Happens
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Is a Negative Balance on Your Credit Card Statement?
How Does a Negative Balance Happen?
1. Overpaying Your Credit Card Bill
2. Returning an Item You Purchased With the Card
3. Using Too Many Cash-Back Rewards
4. Refund from a Fraudulent Transaction
What Should You Do When You Have a Negative Balance on Your Credit Card?
1. Wait for a Refund
2. Ask for a Refund
3. Use the Card to Make a Purchase
Is a Negative Balance a Bad Thing?
What to Do About Negative Balance on a Closed Credit Card Account
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About the Author
Jason Steele has been writing about credit cards and award travel since 2008. One of the nation's leading experts in this field, he has contributed to dozens of personal finance and travel outlets and has been widely quoted in the mainstream media.
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