Your credit card statement typically bears bad news about interest and purchase charges. If you have "CR" listed anywhere on your card statement, however, you're in luck. This notation means you have a credit rather than a debit or charge. You can get credits in a number of ways, but they all reduce your balance.
If you return any merchandise you bought with the card, the seller will usually put the refund back on the card. The transaction will appear on the statement as a credit, with the purchase amount followed by a "CR."
Payments on your monthly bill may have either a minus sign, a plus sign or the notation "CR" attached. Since credit card companies list the amount you owe as a positive number, payments are often listed as negative numbers that reduce the positive balance. If you overpay your balance, the total amount you owe may be followed by a CR. For example, if you owe $500 and you pay $600, the additional $100 may show as "$100CR."
You can always dispute anything you think was billed to your credit card in error. After an investigation, your creditor will decide whether or not to honor the charge. If the company rules in your favor, the charge will be overturned. This correction will often be listed with "CR" on the next return.
Using Your CR
Minor credits on your statement may only reduce your debt by that listed amount. If the size of your credit exceeds your debt, you may end up with a credit balance on the account. In this case, the company owes you money. You can leave the credit there to apply against future charges, or you can ask the company to send you the excess in cash.
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