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What happens if you overpay on a credit card?

Say if you owed £100 on a credit card and you accidently sent a payment of £200 would you be £100 in credit or would your payment be declined? Is it possible to have positive credit on a credit card?

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17 Responses to “What happens if you overpay on a credit card?”

  1. Oh no! said :
    May 28th, 2010 at 12:46 pm

    Of course your account just goes into credit

  2. Readredreed said :
    May 28th, 2010 at 1:25 pm

    Some companies will return it to you, and others will simply credit you and extra 100. Just to make sure you should call them, you don’t want to be out 100.

  3. Janet said :
    May 28th, 2010 at 1:45 pm

    Been there. Done that. Paid twice by accident.

    They simply show it as a positive balance.

  4. phil b said :
    May 28th, 2010 at 2:42 pm

    Your balance would show as a negative by the amount yuo overpaid but you would be in credit so to speak and have the money available to spend

  5. onequesti0n said :
    May 28th, 2010 at 3:34 pm

    You would have a credit balance on your card, which you could then use for purchases OR request a credit balance refund. If you go the route of a credit balance refund make sure to check how long the process takes. While most companies do this within 2 weeks, some may take up to 60 days.

    onequesti0n

  6. rodney said :
    May 28th, 2010 at 3:40 pm

    i would think that you would have 100 on your credit card. that makes the most sense to me

  7. westerisland said :
    May 28th, 2010 at 3:47 pm

    If you over pay on your credit card your outstanding balance will be paid off, and you will have a positive balance.

    I usually do this if I have extra cash laying around and I want to see it put to good use. When it comes time to pay off next month’s credit card bill, it’ll come as an added bonus to yourself knowing that you don’t have to pay as much.

  8. Henry W said :
    May 28th, 2010 at 4:19 pm

    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.

  9. zclifton2 said :
    May 28th, 2010 at 4:44 pm

    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.

  10. newromanticmum said :
    May 28th, 2010 at 5:35 pm

    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.

  11. misslander69 said :
    May 28th, 2010 at 6:15 pm

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

  12. mim1978h said :
    May 28th, 2010 at 6:27 pm

    Don’t do that go shopping instead !!!

  13. tikeka31 said :
    May 28th, 2010 at 6:37 pm

    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.

  14. incongru said :
    May 28th, 2010 at 7:26 pm

    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!!

  15. FREDDIY said :
    May 28th, 2010 at 8:12 pm

    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.

  16. 80's Child said :
    May 28th, 2010 at 8:15 pm

    the account will just be in credit thats all.

  17. alatoruk said :
    May 28th, 2010 at 9:15 pm

    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.




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