What happens if I pay more then my balance off on my credit card?

Question

I had a balance of £450, and transfered £650 to pay it off instead....what happens to the £200 surplus??

Answer 1

you'll have a credit on you acct - either use it or ask them for a refund

Answer 2

ask them for it back, seriously get it now. To all those people saying "it will slowly decrease as you use it" I would like to point out that anything bought on a credit card is usually covered by their insurance. If the holiday company goes bust, or the goods dont work, you can get your money back from the credit card company. however this only works if you have used THEIR money to buy the thing, if you have used YOUR money (ie your credit balance) then you are not covered by their insurance.

which is, lets be honest, a recipie for disaster

Answer 3

The £200 should be credit.

Answer 4

The balance is transferred to your card and you become 'in credit'. This is not refunded by your card company and you will have to transfer the funds back to your bank account.

Answer 5

It'll just show as a credit balance on your next statement. When you use your card, the credit will go down.

Answer 6

Spend the money or I think you will be able to transfer to a current account! Your balance will go to 0 then. Have fun!

Answer 7

You should be able to request a refund, or ask for another credit limit and offset the payment already made against that new balance.

Answer 8

It stays as a credit

Answer 9

they usually send you a refund check or give you a credit if you hadn't closed the account

Answer 10

You will have credit on your account, which you should use it up when you can. But don't go buy anything to use it up, buy neccesities like gasoline and stuffs like that.