Possible to go over credit limit to hit promo?

Anonymous · ‎08-21-2015

I was recently approved for Barclaycard at 1K CL... unfortunately this made it challenging to get the 40K miles for 3K spend in the first 3 months, because I have to hit the exact limit each month. Doable, as I did in the first month, but a return that was expected to hit after my 2nd month statement hit the day right before, and the charges I made after seeing it weren't processed until the next day, so I fell around $150 short the second month. Is there any way I can somehow charge over my limit this month to hit the 3K in 3 months? Or any other ideas/options? It's too early to get considered for a higher CL, & I assume changing the payment date only changes the payment due, not the statement ending date. Any help/info is greatly appreciated, thanks.

Anonymous · ‎08-21-2015

@Anonymous wrote:
I was recently approved for Barclaycard at 1K CL... unfortunately this made it challenging to get the 40K miles for 3K spend in the first 3 months, because I have to hit the exact limit each month. Doable, as I did in the first month, but a return that was expected to hit after my 2nd month statement hit the day right before, and the charges I made after seeing it weren't processed until the next day, so I fell around $150 short the second month. Is there any way I can somehow charge over my limit this month to hit the 3K in 3 months? Or any other ideas/options? It's too early to get considered for a higher CL, & I assume changing the payment date only changes the payment due, not the statement ending date. Any help/info is greatly appreciated, thanks.

Welcome to My Fico.

It depends on the card but I doubt your card has that ability to charge over your limit (you can always call and ask). In your case what you need to do is make multiple payments this month. You can charge over the $1K but need to pay down the balance as soon as it posts. For example, charge $500, pay it off, charge another $500, pay it off and even and then whatever remainder you need to spend and then pay it off. That way you can easily hit the $3K. Remember the 3 month period is from the date you were approved, not when you received and activated the card.

Anonymous · ‎08-21-2015

@Anonymous wrote:
@Anonymous wrote:
I was recently approved for Barclaycard at 1K CL... unfortunately this made it challenging to get the 40K miles for 3K spend in the first 3 months, because I have to hit the exact limit each month. Doable, as I did in the first month, but a return that was expected to hit after my 2nd month statement hit the day right before, and the charges I made after seeing it weren't processed until the next day, so I fell around $150 short the second month. Is there any way I can somehow charge over my limit this month to hit the 3K in 3 months? Or any other ideas/options? It's too early to get considered for a higher CL, & I assume changing the payment date only changes the payment due, not the statement ending date. Any help/info is greatly appreciated, thanks.
Welcome to My Fico.

It depends on the card but I doubt your card has that ability to charge over your limit (you can always call and ask). In your case what you need to do is make multiple payments this month. You can charge over the $1K but need to pay down the balance as soon as it posts. For example, charge $500, pay it off, charge another $500, pay it off and even and then whatever remainder you need to spend and then pay it off. That way you can easily hit the $3K. Remember the 3 month period is from the date you were approved, not when you received and activated the card.

+1

Although I do not have a promo, this is exactly what I have to do with my Discover It. Made 4 payments before my statement even generated. Stupid low CL

Anonymous · ‎08-21-2015

@Anonymous wrote:
I was recently approved for Barclaycard at 1K CL... unfortunately this made it challenging to get the 40K miles for 3K spend in the first 3 months, because I have to hit the exact limit each month. Doable, as I did in the first month, but a return that was expected to hit after my 2nd month statement hit the day right before, and the charges I made after seeing it weren't processed until the next day, so I fell around $150 short the second month. Is there any way I can somehow charge over my limit this month to hit the 3K in 3 months? Or any other ideas/options? It's too early to get considered for a higher CL, & I assume changing the payment date only changes the payment due, not the statement ending date. Any help/info is greatly appreciated, thanks.

Arrival Plus is a Flexible Spending card. Yes, you can, Just pay the overage plus the balance when the statement cuts.

Anonymous · ‎08-21-2015

I would be careful and not go over the CL. For accounts to be eligible for promos, they need to be in "good standing." I think going over the CL may have a negative impact on your account. Best of luck!!!

Anonymous · ‎08-21-2015

@beautifulblaquepearl wrote:
I would be careful and not go over the CL. For accounts to be eligible for promos, they need to be in "good standing." I think going over the CL may have a negative impact on your account. Best of luck!!!

On a typical non-flexible revolving credit line yes. WEMC is Flexible.

myjourney · ‎08-21-2015

Because an account has the flex spending title/NPSL does not mean the charge will be approved over the limit

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎08-21-2015

@myjourney wrote:
Because an account has the flex spending title/NPSL does not mean the charge will be approved over the limit

Probably not by much but if it is set up this way it is likely to approve to xx% threshhold over the limit. Need I remind of the time I charged $40,000 on a AA Exec on a limit that was substantially lower. Of course, I did call them. I suggest the original poster call the creditor and get the limit reconsidered, it does happen.

myjourney · ‎08-21-2015

@Anonymous wrote:
@myjourney wrote:
Because an account has the flex spending title/NPSL does not mean the charge will be approved over the limit
Probably not by much but if it is set up this way it is likely to approve to xx% threshhold over the limit. Need I remind of the time I charged $40,000 on a AA Exec on a limit that was substantially lower. Of course, I did call them. I suggest the original poster call the creditor and get the limit reconsidered, it does happen.

No one said it couldn't be done and your case experience may not reflex success in OP's case ....totally different situation...Lol

I think sometimes this is lost in translation and needs to be placed out there for OP's knowledge and decision making choices

FYI there are also NPSL feature cards out there that now have hard limits

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

UncleB · ‎08-21-2015

@myjourney wrote:
@Anonymous wrote:
@myjourney wrote:
Because an account has the flex spending title/NPSL does not mean the charge will be approved over the limit
Probably not by much but if it is set up this way it is likely to approve to xx% threshhold over the limit. Need I remind of the time I charged $40,000 on a AA Exec on a limit that was substantially lower. Of course, I did call them. I suggest the original poster call the creditor and get the limit reconsidered, it does happen.
No one said it couldn't be done and your case experience may not reflex success in OP's case ....totally different situation...Lol
I think sometimes this is lost in translation and needs to be placed out there for OP's knowledge and decision making choices
FYI there are also NPSL feature cards out there that now have hard limits

There's one sure way to know if the OP could charge over the credit line (and by how much)... just ask the bank.