Overpay...

[7PM789]

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.

[creditnocash]

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.

[Jlu]

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

[Anonymous]

Why wouldn't you just pay online?

[jamesdwi]

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@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.

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

[andre181]

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.

[webhopper]

I use push payment to overpay. No issues so far

[Anonymous]

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?

[Jlu]

Walmart doesn't let me overpay on their website although I've had no experience with sending them a physical check.

[jamesdwi]

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.