If you pay more than what you owe on your credit card, your credit account will show a negative balance. Overpayments to your credit card can be used towards future purchases.
What can you do after an overpayment
If you overpaid your credit account and now have a negative balance, you can use your overpaid balance towards future purchases.
Refunds for overpayments to an open credit account
Refunds for overpayments depend on the amount and how you made the payment:
- If you overpaid from a Neo Everyday account and the amount is over $200, chat with us to request a refund.
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If you overpaid from an external account, reach out to your financial institution to request a payment reversal.
A payment reversal typically takes around 4 weeks to process.
Refund for overpayments to a closed credit account
To get a refund for overpayments to a closed credit account, contact your bank to request a payment reversal. Neo can’t initiate the reversal and payments reversals may take up to 6 weeks to process.
Manage your credit card payments
To make it easy to pay the right amount towards your credit card, you can set up Auto-Pay.
Set up Auto-Pay
You can avoid late fees and pay the exact balance owing using the Auto-Pay feature. This allows you to set up automatic payments from your Neo Everyday account.
Set up Auto-Pay to make sure your payments are always on time and you only pay what you owe.