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I have two credit cards, a VISA and a MasterCard.

I primarily use my MasterCard and only use my VISA when MC isn't accepted. I went about 18 months without using my VISA (I didn't use it at all in 2010. I don't know if there are consequences to that either...). For some odd reason I received a cash back of $1.25 in January, putting my balance at -$1.25.

I finally used my VISA again today, but I had forgotten about the negative balance so it remained on my card all this time.

Is having a negative balance for so long going to hurt me in any way? I'm Canadian if it matters.

Brandon
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A credit balance can happen any time you have a store return, but paid the bill in full. It's no big deal. Why not just charge the next gas purchase or small grocery store purchase, to cycle it through?

Yes - unused cards can get canceled by the bank, and that can hurt your credit score. In the US anyway. I'm guessing it's the same system or similar in Canada.

JoeTaxpayer
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The only consequence I could see is that they have your money until they pay you back.

I'd just do what JoeTaxpayer says and get it back.

mbhunter
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I have a visa with Scotiabank and I purposefully keep a negative balance at times. The guy at the bank said it was a great idea. I have never received a cheque, nor do I want one. The reason is that it allows me to make quick purchases without having to worry about paying back and due dates. Only with large purchases do I allow myself to do that. I still check in with my account every once in a while just to make sure everything is all right. It allows for good money management and piece of mind. I have been doing it for a couple of years and have not been penalized at all. (Wouldn't really make sense to do so though.)

guest
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