If you put your credit card on a negative balance, does that mess up your credit??

Question

If you put your credit card on a negative balance, does that mess up your credit??

Answer 1

I think if it stays for over 30 days (maybe 60) depending on how often your CC company reports activity.

Answer 2

I assuming you mean that you have overpaid the balance  and that you now have a credit (negative) balance on the card.  If so, you have nothing to worry about.  Credit scores mainly look for only a few things.  One of those is the ratio of available credit to your current balance.  In other words they want to know how much of your "open to buy" is being used.  The lower the ratio the better.  In this regard it's actially better to have multiple credit cards as long as you have the self control not to run up the balances.  However, don't run out and open a bunch of new accounts right away.  That is also a "no no".  Accept the good offers you get (low interest, no annual fees) every now and then.  Use each card once in a while so that there is an activity history and pay them off right away.  One way to help build your credit is to make large purchases you would normally make in cash with your credit card and then immediately pay it off (so you don't get charged interest).  It shows that you can meet your responsibilities and chances are every tine to pay off one of these large purchases, your credit card will increase your credit limit.

Hope this helps.

Answer 3

Are you referring to a credit balance?

It just means that you don't owe anything on that account.  This happens all the time, for example, when someone pays their bill in full and then gets a credit from a merchant for a return, or someone makes a mistake and overpays their bill.

Answer 4

if you mean the point where they are owing you money? that's just giving them free use of your money - write and request a refund

Answer 5

By a "negative balance" are you indicating that they owe you money? If so, they will just report that you are "paying on schedule", it does not hurt your credit score.