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This happens when someone pays too much money on their credit card statement. You have money "on credit" in addition to your credit limit. These amounts can be refunded but will usually remain in the account until you charge using the card again, then those funds will be applied towards your purchases on credit.
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Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
What happens if you get a refund on a credit card with no balance?
If you receive a refund on a credit card with no balance, the refund amount will typically be credited to your account as a negative balance. This means you will have a credit on your account that can be used towards future purchases or you can request a refund of the credit balance from the credit card issuer.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
Can you pay off someone else's credit card balance through a balance transfer?
Yes, you can pay off someone else's credit card balance through a balance transfer by transferring the balance to your own credit card account.
