Personal Finance & Money Asked on April 16, 2021
I am due a refund from a company and they are sending back the money to my credit card (the card I used for the original purchase).
However my credit card balance is paid off, so how will this refund be applied ?
Can my credit card go into positive credit ?
The CC is with Barclaycard in the UK.
If the amount isn’t too large, they will likely leave the refund in your account as a positive balance, which you would spend the next time you make a purchase. If you aren’t planning on using your card anytime soon, you can just call Barclaycard and ask them to send you a check.
Correct answer by Ben Miller - Remember Monica on April 16, 2021
I can confirm that you can go into a positive balance on Visa credit cards in the UK as I sat on one for almost a decade until very recently. A refund similar to what you are describing is exactly how this happened to me.
Answered by MD-Tech on April 16, 2021
Yes, you would receive the refund and it would get a positive card balance. Depending on the policy of your card provider, it may stay positive till you spend more and bring it down to zero or negative, or your card provider may cut you a check automatically at the end of the billing cycle.
I have seen both happen in the US (BofA won't automatically cut a check but CapitalOne would) but I am not aware if there is any additional regulation in the UK that forces banks to do it one way or another. If I recall, I was able to keep a positive balance with HSBC but it is more than a decade ago.
Answered by Dheeraj Nagpal on April 16, 2021
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