Credit card positive balance due to refunds. What can I do?

Status
Not open for further replies.

arkh

Junior Member
Joined
Oct 20, 2019
Posts
26
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?
 
Solution
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.
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.
 
Solution
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.
 
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.
 
Thanks everyone.

I don't have another ANZ account, but it sounds like I can either withdraw cash or transfer out easy anyway.
 
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.
 
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
 
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'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.
 
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.
 
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!
 
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?
 
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.
 
Status
Not open for further replies.
Back
Top