Is it good to have a "negative number" for your credit card "current balance" ??..i have a macy's credit card

Question

also, if i have an account balance of $100 and purchase something for $40, then i repay the bill before the due date, do i have 100$ in my account or $60 ? i don't want to go over my credit limit!!!

Answer 1

Good question...4 real.

If you purchased something for $40 on a $100 limit and re-payed the $40 before the due date you have $100 available to you again.

It will usually take a few days for your payment to post to your account. It's always a great habit to pay before the due date, no use in waiting for the inevitable. The due date is just the maximum amount of time you have to pay before interest becomes payable on the outstanding amount !

Answer 2

A negative number doesn't help your credit rating.  in fact, depending on the algorithm it can hurt.

Your credit limit is reset daily.  Once you've paid the $40 down, and it clears (you can go to macys.com and check yourself), you have $100 left to spend.  BTW, it is better to wait until you receive the bill to pay it down - because then the credit card companies see that you had a balance and paid it, which is stronger to the FICO algorithms than always having a zero balance when the bill is calculated and set.