How long does the bank have to refund a credit balance on my credit card / personal line of credit / home equity line of credit account?
If your credit card account / line of credit has a credit balance—in other words, money is owed to you—of more than $1, you have two choices:
- Roll the balance over to the next billing cycle. The money owed to you will be applied to your new purchases in the new cycle.
- Send a written refund request to your credit card company. Tell them how you want the refund paid (e.g., cash, check, money order, or credited to a deposit account). Once the written request is received, they must refund the money within seven business days.