What is a credit balance refund on the Milestone Mastercard? This question is about the Milestone® Mastercard®

What is a credit balance refund on the Milestone Mastercard?

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This question is about the Milestone® Mastercard®

Adam McCann, Financial Writer

@adam_mcan • 02/23/21 This answer was first published on 02/24/21 and it was last updated on 02/23/21.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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A credit balance refund on the Milestone® 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 $200, but pays $300, can get a credit balance refund of the $100 that they overpaid.

Cardholders can request a Milestone Credit Card credit balance refund: by phone (1-866-453-2636) or by sending a written request to

Genesis FS Card Services
PO Box 4477 Beaverton, OR
97076-4477

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 Milestone 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, Genesis Financial Solutions is required to offer you a refund.

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What 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.

If you accidentally overpaid your credit card and would like a refund, you can submit a written request to your credit card company. Federal law requires a refund to...

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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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