Question - Credit card positive balance due to refunds. What can I do? | Australian Frequent Flyer
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Question Credit card positive balance due to refunds. What can I do?

arkh

Junior Member
Joined
Oct 20, 2019
Messages
17
Qantas is refunding me a significant sum due to flight cancellations. Problem is that it'll put my ANZ credit card into a very high positive balance. I only have 3 credit cards, and they're all mostly paid up in full.

Any ideas what can I do about this?
 

Scr77

Active Member
Joined
Feb 15, 2014
Messages
968
What for refund to come through and then request that they transfer it to your bank account. Shouldn’t be a problem. They may take some points back too.
 

arkh

Junior Member
Joined
Oct 20, 2019
Messages
17
What for refund to come through and then request that they transfer it to your bank account. Shouldn’t be a problem. They may take some points back too.
I only have a CC with them, will they transfer it to a non-ANZ bank account without any fees? Or let me withdraw the extra cash at no fee to walk it over?

Yeah taking points back is fair.
 

Pushka

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You should even be able to withdraw the positive balance from atm without cash advance fees. Need pin obviously.
With the amounts of some of the refunds that would take quite some days! I know I did that with Westpac though but under $1000.
 

drron

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Jul 4, 2002
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I had no problems having Amex return the credit to my bank account after a cruise was cancelled in 2018.They were proactive asking me which account to credit.
 

arkh

Junior Member
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Oct 20, 2019
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Thanks everyone.

I don't have another ANZ account, but it sounds like I can either withdraw cash or transfer out easy anyway.
 

big_RED

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Jul 5, 2015
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Just called ANZ and they said very frankly that as long as you call them and provide proof of ID and a BSB and Acc # to transfer the account credits to, you can do this within 7 years...

Even if you have cancelled and stopped your account with them.

Sounds as if they keep your details on record for 7 years, and the lady said all account credits just sit there, and then move into an unclaimed pot after 7 years so I'm confident I'll get my refunds back.

I've put in a calendar reminder for 10 weeks to give Qantas time to work through finance/IT issues before I call ANZ to give them my details again.
 

ramamba

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Joined
Dec 21, 2014
Messages
104
I don't have another ANZ account, but it sounds like I can either withdraw cash or transfer out easy anyway.
yes, done it multiple times after overpaying ANZ cards with balance transfers from other card accounts.

you just do a normal pay-anyone transfer from your ANZ credit card account, no need for a transaction account to do this.

you will get a cash advance warning message, just ignore it, i wasnt ever charged cash advance fees as long as i didn't touch the credit funds, but only the positive balance was used
 
Joined
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I'm not aware that cash advance fees are waived for a positive balance for all cards. Some cards specifically include cash advance fees for positive balances, as they're not making any interest off the negative CC balance.

i would contact the bank before cash advancing. Also pretty easy to set up a linked bank account if necessary.
 

Scr77

Active Member
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Feb 15, 2014
Messages
968
I'm not aware that cash advance fees are waived for a positive balance for all cards. Some cards specifically include cash advance fees for positive balances, as they're not making any interest off the negative CC balance.

i would contact the bank before cash advancing. Also pretty easy to set up a linked bank account if necessary.
I‘ve recently withdrawn from an anz cc that was in positive balance and not been charged a cash advance fee, even though I was warned that it was a cash advance.
 

sydunipete

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I had the same situation with my fee free Bank West Mastercard. I transferred the excess funds to a savings account with another bank - no fees etc. Very simple and all online.
 

Jack3193

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Any experience on this situation with Citibank? I now have a large +ve balance for the same reason (flight refunds) and on a card that I don't use anymore (it is still active, but I only got it for bonus points, and don't want to start using it again). I don't have any other accounts with Citibank, and they are notoriously flaky to deal with on the phone!
 

Pushka

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Any experience on this situation with Citibank? I now have a large +ve balance for the same reason (flight refunds) and on a card that I don't use anymore (it is still active, but I only got it for bonus points, and don't want to start using it again). I don't have any other accounts with Citibank, and they are notoriously flaky to deal with on the phone!
Do they have a chat function on their website?
 

Jack3193

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Do they have a chat function on their website?
I wasn't aware of them having one, but your message prompted me to check, and they do - so thanks for that!

I have now discussed with them by chat. It was a somewhat typical experience with Citibank - a bit strange, but I got a solution that works. They said there is no way to transfer the credit balance to a bank account. However, they said they can return the last payment I made (i.e. my normal monthly credit card payment, which I made over a month ago). By coincidence, that amount is similar to my current credit balance, so that will leave me with a small credit balance that I can use up in a couple of everyday transactions.
 

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