What is reason of its

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Daya

Daya (Querist)
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31 October 2024 what are meaning of
Negative closing balance of credit card
Negative closing balance of Bank account.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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31 October 2024 A negative closing balance in a credit card or bank account typically indicates that:
Credit Card:
You've overpaid your credit card bill.
You've returned purchases or received refunds exceeding your outstanding balance.
You may be eligible for a refund or credit towards future purchases.
Bank Account:
You've over drafted or withdrawn more than your available balance.
Bank charges or fees have exceeded your account balance.
You'll need to deposit funds to cover the overdraft and avoid additional fees.