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Frequent Contributor
7PM789
Posts: 263
Registered: ‎08-20-2012
0

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 - N.C.F.C.U.M.C. - $5k - Amex Gold - NPSL/35k P.O.T. - Discover More - $12k - Sam's Club M.C. - $10k -
Walmart M.C. - $7.5k - Citi T.Y.P. - $10k- Chase Freedom - $5k -
W.M.TU-776(Oct/14/) EQ-726(July/12) EX-782(Oct/14)
Audi, Vide, Tace. . .


Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

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 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Established Contributor
Jlu
Posts: 922
Registered: ‎06-12-2012
0

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.
JP Morgan Select $10k | CSP $10k | Citi TY Premier $15k | BofA 3-2-1 $15k | Chase Freedom $10k | Discover IT $10k | Barclaycard $15k | AMEX SPG $5k | AMEX PRG NPSL | NASA Platinum-Advantage $10k | CapOne Quicksilver $3k | Walmart Card $5k | Amazon Card $10k | Chase Auto 1.49% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
New Contributor
Trons
Posts: 69
Registered: ‎08-28-2012
0

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.
Valued Contributor
jamesdwi
Posts: 1,949
Registered: ‎09-16-2011
0

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?   :smileyvery-happy:  They probably had a problem with you limiting fees and interest rate on the card. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Established Contributor
andre181
Posts: 628
Registered: ‎07-29-2010
0

Re: Overpay...

[ Edited ]

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 $25K | FNBO Visa $22K | Citi Forward $14.5K | US Bank Cash+ Visa Sig $15K | Priceline/Barclays $10K | Chase Freedom $10.5K | Amazon/Chase Visa Sig $8.3k | Citi Double Cash $6.5K | BoA Cash Rewards 1-2-3 Sig $7.5K | Sallie Mae World MC/Barclays $5K | Capital One Cash Rewards $5K | Commerce Bank $5K | WF Cash Back Visa $3.6K | Amazon/GEMB $2.5K | Younkers/Comenity $2.4K | AMEX BCE $2K Target $1K | AMEX Green
EX FICO (from AMEX): 754, TU08 FICO (from Discover): 755, AAoA: 3.6 years
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

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
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Regular Contributor
pozativelyliving
Posts: 237
Registered: ‎07-13-2012
0

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.
Established Contributor
Jlu
Posts: 922
Registered: ‎06-12-2012
0

Re: Overpay...

Walmart doesn't let me overpay on their website although I've had no experience with sending them a physical check.
JP Morgan Select $10k | CSP $10k | Citi TY Premier $15k | BofA 3-2-1 $15k | Chase Freedom $10k | Discover IT $10k | Barclaycard $15k | AMEX SPG $5k | AMEX PRG NPSL | NASA Platinum-Advantage $10k | CapOne Quicksilver $3k | Walmart Card $5k | Amazon Card $10k | Chase Auto 1.49% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
Valued Contributor
jamesdwi
Posts: 1,949
Registered: ‎09-16-2011
0

Re: Overpay...

[ Edited ]

 

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 & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.

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