It’s a healthy habit to manage your finances responsibly, including paying off your credit card statement in full and on time. This doesn’t only help you build credit, but it also helps you avoid any interest fees.
Being extra careful sometimes puts us in an inconvenient position. For instance, you may end up overpaying your credit card in error and not have realized it until your credit account balance falls below zero.
Should you pay more than you owe on your credit card next time? And what can you do to stop overpaying in the future?
You own the credit balance
If you notice that your credit account shows a negative total balance, then it means that you have a credit balance on your credit account.
Options for your overpayment
Use your credit balance for future purchases
You can use your credit balance towards your future purchases without incurring any penalties or interest fees.
Discover the Neo partners nearby to get cashback on your shopping while you spend your own money.
Request a refund
You can request a refund to get your credit balance back. Please note — the refund can take some time to process.
If you overpaid from a Money account: Our team can process refunds if you overpaid by over $200 from a Money account. Chat with us to request a refund.
If you overpaid from an external bank account: Reach out to your financial institution to request a payment reversal.
The processing of a payment reversal usually takes up to 6 weeks.
Balance the equation
Set up Auto-Pay to never overpay
You can automate your credit card payments using the Auto-Pay feature, so you have more time for the things you enjoy.
The Auto-Pay feature helps you stay on top of your credit card payments, so you don’t miss a beat when it comes to your credit card statement. It’ll also put your credit score in the forward motion.
You’re just one tap away from making big impacts on your healthy financial journey. So, let’s set up Auto-Pay.
Set up alerts to stay informed
You can personalize notifications for your credit account activity to keep yourself updated, so you never miss anything important.