1. cancel credit card
2. make final payment as an overpayment.
how does it work? Do they send you a check to reimburse you? After how long?
Do I get to charge them interest?
2007-01-15 05:19:04 · 7 answers · asked by blech 1 in Business & Finance ➔ Credit
They will send you a check for the amount that is overpaid. They won't pay you interest (unfortunately) for the amount extra that you paid.
Each credit card has a different system. Some take 1 week, others take 6 weeks. If you want to speed up the process, wait until the check has been cashed. Then call up the card company and request a check for the amount you over paid. This is the fastest way to get that amount.
2007-01-15 05:24:25 · answer #1 · answered by MR MONEY 3 · 0⤊ 0⤋
One big downfall is that if you pay late on the transferred balance or any other credit card, they may be able to raise your rate. I found this out the hard way...right back up to the 24% rate. Some rates go over 30% these days. If you proceed with this plan, or even if you don't, you MUST make your payments on time. Between rate increases and the $39 late fees, you can't catch up.
2016-03-28 22:50:53 · answer #2 · answered by ? 4 · 0⤊ 0⤋
They send you a check for the overbalance. It may take a few weeks for the cancellation, final payment and reimbursement to be processed.
NO, you do not get to charge them interest.
2007-01-15 05:22:39 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You should contact your credit card office give them the info aswell as the proof that you overpaid for one.
If that doesn't work go to the bank were the credit card was held, and speak to a fanacial consultant about this, and they will be able to give you the answer that you need, or will even be able to assist you in this matter in getting your overpayment back.
2007-01-15 05:26:03 · answer #4 · answered by johnny l 1 · 0⤊ 0⤋
They will not pay you interest. They will just send you a check for the difference. Usually takes about 6 weeks.
2007-01-15 05:26:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They'll send you a check in about 4-6 weeks. Because as concerned as they are with getting your money for them, they are NOT concerned with getting your money back to you.
You can't charge them interest as it was your mistake and even if it wasn't... How are you going to report that they are late on their credit reports?
2007-01-15 05:26:59 · answer #6 · answered by Jyse 6 · 0⤊ 0⤋
you should call them and request they speed up the process of refunding you the difference of the overpayment.
2007-01-15 05:27:10 · answer #7 · answered by marisanj 5 · 0⤊ 0⤋