A credit card balance is the total amount of money you currently owe to your credit card company. It represents the sum of:
Purchases: Any charges you made using your card, including the cost of goods and services, cash advances, and balance transfers.
Interest: If you haven't paid your balance in full by the due date, interest accrues on the remaining amount each month.
Fees: Some card issuers charge annual fees, late payment fees, foreign transaction fees,


Source: https://www.accountiod.com/negative-balance-on-credit-card/

Edited by author 22.02.2024 17:12