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Overpay...

Frequent Contributor

Overpay...

Does anybody else besides myself send checks that are more than the balance on the statement? PIF + any charges you have already made and didn't post before the closing date or are anticipating to make before the check gets to the payment center for processing. For example, I'm mailing the check today and I know I'm putting say $50.00 gas in my truck before they'll receive the check so write it out for PIF + $50.00

I've been doing this since I got my first tradeline and I'm beginning to wonder if this behavior has a positive or negative effect on my credit score...

It seems like a logical approach to me but I would like to hear others opinions/experiences.
Amex B.C.E. - $2.5k - Amex Everyday - $5k - N.C.F.C.U.M.C. - $5k - Amex Gold - NPSL/35k P.O.T. - Discover It - $12k - Sam's Club M.C. - $10k -
Walmart M.C. - $7.5k - Citi T.Y.P. - $10k- Chase Freedom - $5k - Chase Marriott - $7.4k - U.S. Bank Cash + - $6k -
W.M. TU-781(Jan/15) Citi EQ-782(Dec/14) EX-782(Oct/14)
Audi, Vide, Tace. . .
Message 1 of 29
28 REPLIES
Valued Contributor

Re: Overpay...

i dont believe its negative. 

ive done that with my citizens bank mc and it just lets you refund the money in a check. or use it towards next purchase. like today for example i paid off chase freedom card but then since its 5% at restraunts when i went to panera i put it on there. due date is the 7th even though 0 is due i pif so yeah. 

dont worry about it if you plan on charging it wont  show a negative balance.

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 2 of 29
Established Contributor

Re: Overpay...

I also do this on a regular basis but one time with my first premier card it caused the account to be closed.
AMEX SPG $30K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $20k | | NASA Platinum-Advantage $20k | CapOne Quicksilver $15k | Amazon Card $10k |

My Journey from Sub-600s:
Message 3 of 29
New Contributor

Re: Overpay...

Why wouldn't you just pay online?

Starting: EQ 590 (LP 8/12) TU 589 (LP 8/12) EX 612 (LP 8/12)
Current: EQ 650(LP 9/12/12) TU 667 (LP 9/12/12) EX 676 (LP 9/12/12)
Goal: 620 (for VA Mortgage)
Goal Reached. Pre-qualified for VA loan, 9/12/12

My Jeep is like my wife. Cleans up nice, but a lot more fun when she's dirty.
Message 4 of 29
Valued Contributor

Re: Overpay...


Jlu wrote:
I also do this on a regular basis but one time with my first premier card it caused the account to be closed.

are you saying  that them closing the account was a bad thing?   Smiley Very Happy  They probably had a problem with you limiting fees and interest rate on the card. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 5 of 29
Established Contributor

Re: Overpay...

I always do this and overpay current balance + pending charges + charges I know I'll make in the next few days and know the amount.

 

But really, who writes checks anymore? I write 1 check a month for rent and that's it.

 

I would go through a book of checks a month if I paid my CC's with checks as often as I pay online, not to mention a ton in postage.

Discover IT $35K | FNBO Visa $30K | Cash+ Visa Sig $19.5K | Southwest Premier $16K | Priceline $15K | Citi Forward $14.3K | US Bank Plat $14K | Commerce Bank $13K | CSP $13K | CSR $10K | Sallie Mae World MC $10K | Lowe’s Consumer 10K | BoA Cash Rewards 1-2-3 Sig $7.5K | Fidelity Visa $7K | Citi Double Cash $6.5K | WF Cash Back Visa $5.4K | Capital One Cash Rewards $5K | AMEX BCE $3.9K | Freedom $2.5K | Younkers/Comenity $2.4K | Kohl’s 1.5K | Target $1.4K | EX FICO (from AMEX): 768, TU FICO (from Discover): 797, AAoA: 4.4 years
Message 6 of 29
Moderator Emeritus

Re: Overpay...

I use push payment to overpay. No issues so far

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 7 of 29
Regular Contributor

Re: Overpay...

I just had an idea, what do you guys think of this - I have a Walmart card with a $600.00 limit. I'd like to use their 0% financing offer for 18 months to purchase an iPad (just over $700.00). What if I pay my current balance ($65.00) PLUS pay an additional $200.00. I should have $800.00 available ($200.00 of that a credit) then I can put the whole iPad on their and be good to go. Sound like a plan?

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Message 8 of 29
Established Contributor

Re: Overpay...

Walmart doesn't let me overpay on their website although I've had no experience with sending them a physical check.
AMEX SPG $30K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $20k | | NASA Platinum-Advantage $20k | CapOne Quicksilver $15k | Amazon Card $10k |

My Journey from Sub-600s:
Message 9 of 29
Valued Contributor

Re: Overpay...

 

Why not just pay the $200 in cash at walmart put the rest on your card, or put 200 on another rewards card and pay it off before its due.  You can use multiple playment methods at walmart without any problems. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 10 of 29