Chip Lupo, Credit Card Writer
A credit balance refund on the Capital One SavorOne Student Cash Rewards Credit Card is a reimbursement for paying more than the total balance owed on the 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 SavorOne Student Card credit balance refund: by phone (the number on the back of the card) or by sending a written request to Capital One / Attn: General Correspondence / P.O. Box 30285 / Salt Lake City, UT 84130-0287. They can get their refund in the form of a check. Legally, a credit card issuer is obligated to issue a credit balance refund within seven business days of your request for one.
Please note that you are not required to request a credit balance refund if you overpay your Capital One SavorOne Student Card. If you have a negative balance on your account, meaning you’ve paid more than you owe, future purchases will be credited until the balance is back to zero. If you maintain a negative credit balance for six months, Capital One is required to offer you a refund.
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