Hi All,

I hope someone may be able to help me here. I have a HalifaxOne Credit Card which I pay off every month. Last month I paid off balance well before the deadline but I also have a direct debit set up that will pay the remaining balance off from halifax bank account before credit card deadline. It seems that the payment has happened twice, once from me paying it off, secondly from direct debit paying it off. This resulted with me being in credit so to speak. I wasn't too concerned as it wasn't a huge amount. However, I have just had a refund from something I bought which I had paid off ages ago. So the end result, I'm in even more credit on top of a £0 balance. My question is, can I transfer the money that is physically mine from my credit card to my bank account or is this not possible? I very rarely use the credit card and cannot see myself using it in the near future so would like to save the money and not have it on the credit card.

Thanks,

James.

1) You lose nothing but time and a few pence for a phone call by ringing them, explaining that the account is in credit and requesting a refund. They will probably oblige, though this might be via a cheque in the post rather than immediate transfer.

2) If you do have the facility to make such transfers yourself (i.e. credit card cheques or payments to bank), you probably don't want to use it, as you'll get charged a cash advance fee (typically 3%) even though you're in credit. Same goes for taking out cash on your credit card via a cash machine... don't do it, even when in credit.

3) With that said... do you really have so little expenditure that you can't just use the credit card where you would otherwise have paid cash? That would be my approach... buy your groceries on it and keep the cash you would have paid with.