DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - is there any reason not to have a negative balance on my credit card?

**disappointment2** · 08-16-2011, 04:31 PM

It's negative, I've had a positive balance on my credit card, when I paid off the full amount on the same day the automated minimum payment went out, so the card was £5.35 in credit or something.

Because it shows up as a negative number on the website.

Assets vs. Liabilities.

Albie, both checking account and your credit card with credit balance on it are bank's liabilities. Overdrawn credit card is an asset and is an active account different from the primary card account. Credit balance is almost always rendered as positive to the customer for the sake of simplicity. Negative amount is usually your debt. If I overdraw my checking account and my credit card, why should the former show up as negative and the latter as positive balance?
Actually, the online banking system I use never shows a negative balance on my credit card, because 0 there means I've used up all of my overdraft limit.

08-16-2011, 04:31 PM	#34
disappointment2 Join Date Oct 2005 Posts 475 Senior Member	It's negative, I've had a positive balance on my credit card, when I paid off the full amount on the same day the automated minimum payment went out, so the card was £5.35 in credit or something. Because it shows up as a negative number on the website. Assets vs. Liabilities. Albie, both checking account and your credit card with credit balance on it are bank's liabilities. Overdrawn credit card is an asset and is an active account different from the primary card account. Credit balance is almost always rendered as positive to the customer for the sake of simplicity. Negative amount is usually your debt. If I overdraw my checking account and my credit card, why should the former show up as negative and the latter as positive balance? Actually, the online banking system I use never shows a negative balance on my credit card, because 0 there means I've used up all of my overdraft limit.
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