Comments on: What happens if you overpay on a credit card?

By: alatoruk

alatoruk — Fri, 04 Dec 2009 05:17:29 +0000

yes you account goes into credit – HOWEVER

there is a pitfall here, that few people realise. If you buy something when you are “in credit” then the item is not covered by the credit cards insurance because you are not buying it under their “credit” agreement.

so spend it on something like a resturant meal where you know the goods are not going to fail and you have to make a claim.

By: 80's Child

80's Child — Tue, 01 Dec 2009 07:46:09 +0000

the account will just be in credit thats all.

By: FREDDIY

FREDDIY — Tue, 01 Dec 2009 00:51:47 +0000

Yes, it is possible to be in credit on a credit card account. I have sometimes done it to make sure that I cover next months’ interest payment (if any) or if I am likely to be away from home when the next bill comes in. This keeps charges down, but of course they do not pay you any interest.

By: incongru

incongru — Sun, 29 Nov 2009 10:36:02 +0000

Yes, the acount just shows a credit that’s all. But the money earns hardly any interest at all.

I have quite often inadvertently overpaid in the past, it’s no big deal. It is still your money after all!!

By: tikeka31

tikeka31 — Thu, 26 Nov 2009 21:23:29 +0000

If you ‘overpay’ on your card it will just show up as a credit on your account. If you owe more in total than what you sent, the remainder will be applied to the principal. However, you will still owe another payment next month. Example: My Credit card balance is $400, my minimum payment due is $20. I send in $40. The remainder of the minimum payment due ($20) will go towards the principal. It will NOT cover 2 payments, you will still have to pay a minimum next month. It is possible to have a credit on a credit card account.

By: mim1978h

mim1978h — Tue, 24 Nov 2009 18:47:02 +0000

Don’t do that go shopping instead !!!

By: misslander69

misslander69 — Mon, 23 Nov 2009 18:06:55 +0000

it will appear as positive credit, there is nothing to worry about ive done it loads.

By: newromanticmum

newromanticmum — Sun, 22 Nov 2009 09:10:39 +0000

The overpayment amount would automatically go on your card,and be deducted from next months payment. I regularly pay a bit extra on my credit card when I can,so that the next months payment will be minimised,just in case I come into unexpected financial difficulties.

By: zclifton2

zclifton2 — Wed, 18 Nov 2009 23:53:56 +0000

I doubt that there would be any restraint on having extra credit on your card because that has to be something that happens frequently. Probably not a 100.00 worth, credit non the less. Good question.

By: Henry W

Henry W — Mon, 16 Nov 2009 08:43:17 +0000

It never happen to me; but I do believe your credit card company or bank will accept your payment and credit the overpayment to your credit card account.