In this brief guide, we will discuss what it means to be “in credit”. This is a term you may see on your credit card or bank statement.

What does it mean to be “In credit”?

Being “in credit” simply means that the entity or corporation you are dealing with owes you money as you have overpaid.  You could be “in credit” if you have paid your energy supplier more money than they had requested by accident.

If you find that you are “in credit” then you can simply call the company or entity who you are “in credit “ with and request a refund. They should immediately process a refund for you via check or back to the bank account or card which your payment came out of. If you find that they are taking too long to do this or are unwilling to do this then you can report them to the regulator who oversees them. This could be the financial ombudsman, the legal ombudsman etc.

In some cases, your supplier will simply deduce the money you are “in credit” by from your future bill and this will in essence balance out the account again.

You can be “in credit” with:

Your electricity supplier

Your gas supplier

Your water supplier

Your credit card provider and pretty much any entity

FAQs: In credit

What does it mean to be in credit?

Being “in credit” simply means paying more than is owed on an account and ending up with an account which is in surplus hence “in credit”. 

For example, if you owed £50on your water bill and you mistakenly paid £150 then you will be in credit by £100. This can be refunded to you by your supplier if you request but it can also be allocated to your next bill.

What does it mean if my balance is in credit?

If your balance is “in credit” his simply means that you paid more than what you owed. This could be the case if you have a credit card statement and mistakenly paid much more than was required.

In this brief guide, we discussed what it means to be “in credit”.If you have any questions or comments please let us know below.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.


John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.