Crap! Over paid by a good amount

[Anonymous]

So I have 2 checking accts at 2 banks. Paid $300 from USAA via the cap one app. I forgot I scheduled a payment from 5/3 bank last weekend. So when the large 5/3 payment hits tonight. I'll be negative around $300 ish dollars. Is this okay? My statement cut is the 1st and I prob won't use the card until next month due to trying to run a lot of flow through my AMEX. 

Is this okay or do I need to contact cap one?

[longtimelurker]

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@Anonymous wrote:

So I have 2 checking accts at 2 banks. Paid $300 from USAA via the cap one app. I forgot I scheduled a payment from 5/3 bank last weekend. So when the large 5/3 payment hits tonight. I'll be negative around $300 ish dollars. Is this okay? My statement cut is the 1st and I prob won't use the card until next month due to trying to run a lot of flow through my AMEX. 

Is this okay or do I need to contact cap one?

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What are you concerned about (i.e. how could it not be OK?)   The balance will report as 0 if it is negative.   Once the statement cuts, you can request a refund check, or just use the overpayment against future purchases.

[Anonymous]

I don't know how a negative balance will affect reward points?

[NRB525]

Well, read trough your Ts & Cs, if it says that overpaying reduces your rewards points, be sure to let us know, because it would be seriously changing the rules of the game.

Rewards points are on spend. You don't generally forfeit them unless the account gets closed, for, lets say non-payment as an example. Hard to see any impact from overpayment. 

[Anonymous]

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@Anonymous wrote:

I don't know how a negative balance will affect reward points?

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It won't 

[go_FICO_self]

Quick! Buy something for $300 before everything posts and the negative balance is reported!

[Anonymous]

I have done something similar with CAP1.  It is not a bad thing and it won't have any impact on your rewards balance.  If you carry a negative balance for more the 60 days once your statement closes after the 60 days they will mail you a refund check to the address they have on file for you.  If the money is needed immediately you can call and have a check mailed to you but it will take a few days.