Common use of Credit Balance Clause in Contracts

Credit Balance. Your card does not have a preset spending limit. Instead, we reserve the right to approve or to decline a charge to the account on a transaction-by-transaction basis. In the event we assign a specific preset spending limit or credit limit to your account, we will notify you in accordance with applicable law. We will return to you any credit amount over $1.00 if the amount has been on your account longer than six months. You may also request a refund of a credit balance at any time. We may reduce the amount of any credit balance by the amount of new charges billed to your account. We may reject and return any payment that creates or adds to a credit balance on your account.