Chip Lupo, Credit Card Writer
@CLoop
A credit balance refund on the First Tech Choice Rewards World Mastercard® 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 First Tech Choice Rewards credit balance refund: by phone (1-855-855-8805), online or by sending a written request to
PO Box 2100
Beaverton
OR 97075-2100.
They can get their refund in the form of ACH refund credit to the bank account from which the payment was originally taken. 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 First Tech Choice Rewards credit 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, First Tech Federal Credit Union is required to offer you a refund.
People also ask
What credit score do you need for the First Tech Choice Rewards World Mastercard?
You need a credit score of 640 or better for the First Tech Choice Rewards card. That means people with fair credit or better have a shot at getting approved for the card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the card. Some other key criteria include your income, existing debt load and employment status.
Since...
read full answerWhat is a credit balance refund?
A credit balance refund is a reimbursement you get after winding up with a negative balance on your credit card, which might occur if you pay more than the total balance or if you get a refund for a returned purchase. Credit card companies are required by law to issue a refund within 7 business days at the cardholder’s request.
Key Things to Know About Credit Balance Refunds
- Depending on your credit...
What does a negative balance on a credit card mean?
A negative balance on a credit card means that your balance is belo zero. In other words, your credit card company owes you money, rather than the other way around. In other words, you’ve paid more than your total balance due. Credit card companies generally prevent you from paying more than you owe, especially online. But if you pay by check, you might get around the policy. You’ll see the negative balance on your monthly statement...
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