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What does a Negative Balance on Your Credit Card Indicate?

What does a Negative Balance on Your Credit Card Indicate?

There is no need to get panic or anxious with if you see a credit card statement with a negative balance. In fact, there is nothing damaging about the point that you have a negative balance.
A negative balance on your credit card could be because of various reasons. Some of the common reasons are listed below:
Extra amount of payment from your end: Paying amount more than what you have transacted for is one of the most common causes for seeing negative balance on your credit card statement. An over payment, i.e, the amount paid in was in excess of the spending during that particular month could reflect a negative credit card balance.
Refunds made into your credit card account: There is a probability of refunds credited in your credit card account in line for to several reasons such as return of a product or a service paid through your card, double transaction refund, failed transaction, etc.
Cashback received into your card: Cash backs on buying of different products and services are generally received late. You might have received cashback in credit card account for the purchase you have made earlier


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