Personal Finance

Negative Balance on Credit Card

  • Last Updated:
  • Jun 16th, 2011 3:04 pm
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Deal Addict
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Oct 27, 2007
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Negative Balance on Credit Card

Quick question,

I have a negative balance on my credit card because Amazon.com gave me back some money for their export fee. It seems like it was lowered, so they gave back the difference.

This card I haven't used for a while. Will this negative balance prevent the account from going into deactivation? This is my oldest card (since first year uni), but I don't use this card because I have an RBC Avion and MBNA SC.

Thanks,

Sam
6 replies
Deal Addict
Mar 2, 2005
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No it won't prevent that for happening. If they want to close the account, they will send you a cheque with a notice.
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Aug 12, 2006
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NO...Its negative balance. You dont owe CC company.
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Feb 15, 2008
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CIBC has a service charge of ~$10/year for a dormant, unused account, with a credit balance.

RBC may have the same, which will eventually soak up any credit balance.
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Oct 16th, 2012 9:06 pm
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Oct 27, 2007
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Thanks for the quick response!

I got my answer from the above.
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Feb 5, 2009
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Mark77 wrote:
Jun 16th, 2011 2:12 pm
CIBC has a service charge of ~$10/year for a dormant, unused account, with a credit balance.

RBC may have the same, which will eventually soak up any credit balance.

I think that only kicks in after several years of inactivity. I stopped using a dividend card early in 2008, and then in December I received a $1.xx rebate. It wasn't until about 3 weeks ago that I finally found it and went to buy a pack of gum, and there were no fees charged.
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Nov 23, 2005
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GSRee wrote:
Jun 16th, 2011 2:57 pm
I think that only kicks in after several years of inactivity. I stopped using a dividend card early in 2008, and then in December I received a $1.xx rebate. It wasn't until about 3 weeks ago that I finally found it and went to buy a pack of gum, and there were no fees charged.
With most of the creditors, the fee is billed after the credit balance has been sitting on the account for 12 months.
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