Credit card 'credit'

[DeltaRed]

I have a Case/IH credit card. I only use it for the big parts purchaces.I paid off the last purchace several months ago.Now,I seem to have a $1.72(one dollar,seventy two cents) 'credit'. They send a statement every month reflect to that credit.Now,Should I buy something on the card and pay it less the credit to zero it out? or just let them keep sending a statement,wasteing paper,postage,and my time?Acctually,It's kind of funny that a credit card company owes ME money. LOL

 

[Geo-TH,In]

Most of the time rebate money on CC accumulates until it gets to a certain amount before you can cash it in..
Sometimes you have to call the CC to receive the rebate.
Menards will send you a rebate every quarter.
You may call the CC company and see if your rebate rewards can be applied to next month's bill.

Most of the time you have to ask before you can get rebate money, not automatic.

 

[1948CaseVAI]

This common as payments/credits are hard to match up until you get to a zero balance, then it eventually stabilizes (but check the following month for interest charges that were no yet billed when you paid down to zero balance.

There is no harm in letting the credit ride. You will eventually need parts again and it will be resolved. Certainly you should not make a purchase you do not need simply to get the credit off the books. The monthly billing waste is not your problem.

 

[Dean]

If you do nothing, the bank is required to send you a check after (IIRC) 90 days.

 

[Leroy]

Did you when you paid it off actually paid a different figure than what you actually owed? Perhaps you looked at a pay at next months instead of current date? That could make that come up like that. Just check your back statements with how you paid it off.

 

[Traditional Farmer]

Just buy a tank of gas and pay it off next month

 

[Tony in SD]

Ask them for 25% interest on their open account lol

 

[ss55]

Should I buy something on the card and pay it less the credit to zero it out?

Yes, that is what I have done to zero out a card that I don't use much. Check your next statement, the credit company should deduct your credit from the total owed.

Dumb question: is the credit in rewards points, like a 1 percent cash back on purchases? Some credit companies give you a choice how you want to apply reward points, but you DO have to select how you want to apply the rewards points.