we were carrying debt of 7k on a major credit card. we paid it off on one shot last week. i went online to view my account and make sure everything is in order. it shows my available credit is -$700. huh? it shows a 0 balance. i'm confused because the credit limit is 7500. does this mean they closed the account or shouldnt it say closed if they closed it?|||A negative balance means you overpaid by $700! What would happen is if you don't spend at least $700 to make it 0, the bank might send you a check for $700 on the next billing cycle!
This is not a bad thing and will not affect your credit in any negative way. The credit limit that you have does not reflect the negative amount you have now. It will always reflect the amount beginning from $0.
You should definitely call your bank or the credit card to see what steps need to be taken.
I am pretty damn sure your account is not going to close by any means.
Relax and Enjoy!
=)|||Just call the bank and ask. If everything turns out okay, you shouldn't close it. You should have two major credit cards. One for every day use and one for emergency|||no, my online credit does that too. it will say i have less credit even though my account balance is at 0. wait a few days and see what it is. or call them.|||Sounds like you paid $700 OVER what you needed to.
Contact them to send you a check for this $700.
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