Bogdan Roberts, Credit Cards Moderator
@bogdan_roberts
A Capital One credit balance refund is a reimbursement for paying more than the total balance owed on a Capital One credit card. For example, a cardholder who has a balance of $500 but pays $600 can get a credit balance refund of the $100 that they overpaid.
Cardholders can request a Capital One credit balance refund by phone the number on the back of your card or by sending a written request to:
Capital One
Attn: General Correspondence
P.O. Box 30285
Salt Lake City, UT 84130-0287
Capital One cardholders can get a credit balance refund in the form of a check.
Note that you are not required to request a credit balance refund if you overpay your Capital One credit card. You will have a negative balance on your account, so your future purchases will be credited until the balance is back to zero. And if you maintain a negative credit balance for six months, Capital One is required to offer you a refund.
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People also ask
How long does a credit card refund take?
A credit card refund could take anywhere from a few minutes to several weeks if you’re returning a purchase. But if you’re seeking a refund because you’re disputing a charge on your monthly statement, the process could take up to 150 days. The law dictates that you must notify your credit card issuer of the problem within 60 days, and they must resolve it within 90 days of being notified.
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read full answer by WalletHub, Financial CompanyWhat does a negative balance on a credit card mean?
A negative balance on a credit card means your balance is below zero, and your credit card company owes you money rather than the other way around. Your credit card balance could be negative if you make a payment that's a lot larger than the balance due or if you receive a credit to your account. Credit card companies generally prevent you from paying more than you owe, especially online, but if you pay by check,...
read full answer by WalletHub, Financial CompanyWhat happens if you overpay your credit card?
If you overpay your credit card balance, the payment will result in a negative account balance, which means the credit card company will owe you money. The next time you make a purchase with the credit card, the amount you overpaid will count toward it.
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