[HootSnori]

What does a positive balance on my credit card mean? I owe that much back?

It's the exact amount I used to buy something, but why is it under "Credit card balance"?

[Kilsimpaile]

"balance" - how much was charged on the Credit Card.

One of the definitions of balance:

"The remaining amount credited to a customer's account, representing the amount the customer is entitled to withdraw, or conversely, the remaining amount of a customer's debt, which is the amount the customer is obligated to repay. The term also refers to the ratio of total credits to total debits."

From: http://www.ncbuy.com/credit/glossary...=LETTER&term=B

[HootSnori]

"balance" - how much was charged on the Credit Card.

One of the definitions of balance:

"The remaining amount credited to a customer's account, representing the amount the customer is entitled to withdraw, or conversely, the remaining amount of a customer's debt, which is the amount the customer is obligated to repay. The term also refers to the ratio of total credits to total debits."

From: http://www.ncbuy.com/credit/glossary...=LETTER&term=B

Thanks mate [thumbup]

[bortycuz]

you sure your old/wise enough to have one?! :P

[Inonanialry]

you sure your old/wise enough to have one?! :P

Indeed, especially if he doesn't even know what "balance" means.

[CalBettaulp]

you sure your old/wise enough to have one?! :P

Too true, if you don't know what an account balance is, you probably should not have a credit card.

[Staillateno]

You gotta start some time. I got my first @ 16

[Inonanialry]

You gotta start some time. I got my first @ 16

They let a 16-year-old have a credit card?

[Staillateno]

They let a 16-year-old have a credit card?

What's wrong with that? By the time I was 18 I had built up enough credit to get a $14k loan without a co-signer. I put around 3k down at the time. Turned out to be the worst purchase I ever made, but hey.. no way I could have known that at the time. I should have just stuck with investing in AMD. I could have bought a few cars for the profit I would have made off that investment.

Now I get the joy of re-building my credit! Yay!

[Inonanialry]

Over here you have to be over 18 (i.e. an adult) in order to have a credit card.

[iiilizium]

What's wrong with that? By the time I was 18 I had built up enough credit to get a $14k loan without a co-signer. I put around 3k down at the time. Turned out to be the worst purchase I ever made, but hey.. no way I could have known that at the time. I should have just stuck with investing in AMD. I could have bought a few cars for the profit I would have made off that investment.

Now I get the joy of re-building my credit! Yay!

I think you pretty much answered what's wrong with letting kids have credit.

[Brutton]

I never heard of anyone under 18 having a credit card. Most kids just had their parents cards.

[Cogebrego]

you sure your old/wise enough to have one?! :P

I was thinking the same thing

[Teligacio]

Actually, the term "balance" can be used in several ways, some of which clearly contradict eachother.

In the case of credit cards, it could either mean the money on your card that you have spent, that you need to pay off (if you have a credit card with its own balance that builds up, rather than a CC that is linked to an existing bank account).

Alternatively, balance could also mean the amount that you have left to spend - i.e how much of your credit card limit for a given period is still remaining.

Don't be so quick to bash - it was a perfectly reasonable question.

[ChebuRAtoR]

I think you pretty much answered what's wrong with letting kids have credit.

[rofl] Exactly what I was thinking.

[Heaneisismich]

What does a positive balance on my credit card mean? I owe that much back?

An outstanding balance you owe should be shown in the negative. Since you say positive balance it means your in credit.

You or someone in charge of that account overpaid the balance. Your not in debt relax, unless your branch actually institutes a policy where they charge you for being in credit. if so whatever you overpaid will become an outstanding balance at the billing period/ end of the month whatever.

If its not too much money and you cant find any way to clear it and dont want it to be in vane, you could always donate the exact amount to a charity of your choosing

Edit: or if you have a paypal account you could always credit that and save it for later

[dicemets]

Actually, the term "balance" can be used in several ways, some of which clearly contradict eachother.

In the case of credit cards, it could either mean the money on your card that you have spent, that you need to pay off (if you have a credit card with its own balance that builds up, rather than a CC that is linked to an existing bank account).

Alternatively, balance could also mean the amount that you have left to spend - i.e how much of your credit card limit for a given period is still remaining.

Don't be so quick to bash - it was a perfectly reasonable question.

Yup, once I actually paid off a credit card and yet kept paying , didnt know just kept paying, best I can remember they started up a savings account and upped my credit limit to crazy limits though. Tis not a bad question to ask at all.

[Staillateno]

I think you pretty much answered what's wrong with letting kids have credit.

Bah, it could happen to anyone. How was I to know the car, which was a toyota celica and had received excellent reviews, would turn out to be a lemon. After which I would lose my job because I missed a day of work because the car broke down also leaving me with no way to look for a new job. Then find out the dealership would hose me over hardcore by refusing to allow me to pay for the work they did and get a second opinion on the repairs because they should have been covered under warranty. They held my car even after I offered payment and they refused. They knew that if I took it elsewhere they would probably find that it wasn't my fault that the tranny died and engine sludged. Which is why they refused to let me take my car back even after I pulled out my wallet and offered to pay all the repair fees I owed.

42k miles the engine sludged and tranny broke down. Oddly enough, this all happened shortly after the dealership replaced the clutch, which the previous owner obviously abused, and gave it an oil change. I also found the car was wrecked before I bought it and the dealership covered up the damage with a new bumper. It was an unreported accident with some shoddy coverup work involving a new bumper. Certified used my ass.

This is also the reason I will never again buy a new or newer used car. All that cash on something with a warranty and excellent reviews and I get raped from the rear with liquid sandpaper for lube.