Q:

What does the negative balance number mean?

My credit card has a negative number but my credit limit has not been exceeded. Do I owe that negative sum to the bank? I have only spent 26$ since I made my last payment to the card. Does this actually mean I owe them that negative balance?

A:

A negative balance on a credit card account means they owe you money. This typically happens when you are issued a refund on a purchase around the same time as your payment goes through.
Your transaction history should show each purchase as a positive amount, and any payments/refunds as negative amounts. A negative balance can be paid out by the bank if it remains for a length of time (~6 months, or sooner if you request a refund), but usually they just show a negative balance and it gets resolved as you make additional purchases with the card.

