topic Re: How much does Navy and Chase allow you to pay over current balance? in Credit Cards

How much does Navy and Chase allow you to pay over current balance?

QueenJ — Mon, 08 Mar 2021 17:38:59 GMT

I haven't been able to find this answered directly, but how much does Navy Federal and Chase allow one to pay above their current balances?

PSA: apologies but moderators could you please correct title of thread to say - "...allow you to pay..." thanks

Re: How much does Navy and Chase allow you to pay over current balance?

Remedios — Mon, 08 Mar 2021 17:39:22 GMT

Don't know about navy, but Chase doesn't allow you to pay anything over the balance unless you push the payment from your FI.

Are you trying to cover pending charge or something else?

Re: How much does Navy and Chase allow you to pay over current balance?

cashorcharge — Mon, 08 Mar 2021 19:30:52 GMT

I am one of those "pay before it hits" people and both NFCU, Chase and Wells Fargo permit this.

With a ZERO Balance and a pending charge...say for $20, I can go in to each of their websites and choose the "other amount" category for payment with all 3 banks and then pay what I'd like. Admittedly, I have not paid more than the pending charge...so I wouldn't have paid $30 knowing a $20 charge is pending...but it's worth a try.

The payment will post to your account the day of the payment...let's say today...but the pending charge while perhaps dated today may not post for 2 or 3 days so tomorrow morning when I log in...my account will show a CREDIT balance but it may not reflect in the Available Credit since the pending charge is still pending.

I do this a lot just to cover my bases and I've never had an issue. It warns you that it won't give you increased credit but it takes the payment, no problems...

Re: How much does Navy and Chase allow you to pay over current balance?

Loquat — Mon, 08 Mar 2021 23:10:58 GMT

If you push a payment from your checking account via bill pay then you can overpay as much as you’d like. I wouldn’t recommend creating a huge credit as theirs no need to give the lender an interest free loan.

Re: How much does Navy and Chase allow you to pay over current balance?

HHH71 — Tue, 09 Mar 2021 04:19:26 GMT

I'm not sure how much; but I just accidentally did just that. I put $10k - $15k a month on my credit cards for travel. So I pay them off every week, if not 2-3 times a week. I want to make sure they never report a balance for utilization. I noticed my Chase FU had a -$578 balance. I accidentally paid the current balance twice. So, as I charge it will bring my balance back to zero and then start to show a balance again.

I once had a customer tell me he accidentally paid $19,000 instead of $1,900 on his credit card. I don't remember what bank it was, but he said he had like $17,000 additional credit on top of his CL.

Re: How much does Navy and Chase allow you to pay over current balance?

MrDisco99 — Tue, 09 Mar 2021 04:55:06 GMT

With Chase, having a pending charge makes a difference. I tried overpaying in anticipation of a purchase, and it wouldn't let me until after the swipe.

Re: How much does Navy and Chase allow you to pay over current balance?

QueenJ — Tue, 09 Mar 2021 12:17:09 GMT

@Remedios wrote:
Don't know about navy, but Chase doesn't allow you to pay anything over the balance unless you push the payment from your FI.
Are you trying to cover pending charge or something else?

Yes because I wasn't to pay balance to zero on my csr but since it's my main driver, there's always something pending on it. Therefore, I was thinking I could pay more than the current balance. I've read here that citi allows you to pay 7.5 or 7.6% above the balance and thought chase might also.

Re: How much does Navy and Chase allow you to pay over current balance?

QueenJ — Tue, 09 Mar 2021 12:32:10 GMT

Thanks for all the feedback! What I also noticed is that if there are pending balances that have not posted prior to the statement closing date, then only the interest, if any, will on be reported as the balance. Let me know if I'm off on this.

Re: How much does Navy and Chase allow you to pay over current balance?

Remedios — Tue, 09 Mar 2021 15:14:50 GMT

@QueenJ wrote:
Thanks for all the feedback! What I also noticed is that if there are pending balances that have not posted prior to the statement closing date, then only the interest, if any, will on be reported as the balance. Let me know if I'm off on this.

You are right about that.

If those pending charges were not completed by the time statement cut, they will be reflected on your next statement.

However, if you are paying interest on the previous month's charges, you do not have a grace period so any charge you make starts accruing interest from the day it posts.

Re: How much does Navy and Chase allow you to pay over current balance?

Remedios — Tue, 09 Mar 2021 15:21:20 GMT

@QueenJ wrote:
@Remedios wrote:
Don't know about navy, but Chase doesn't allow you to pay anything over the balance unless you push the payment from your FI.
Are you trying to cover pending charge or something else?
Yes because I wasn't to pay balance to zero on my csr but since it's my main driver, there's always something pending on it. Therefore, I was thinking I could pay more than the current balance. I've read here that citi allows you to pay 7.5 or 7.6% above the balance and thought chase might also.

You can always push a payment from your FI if you need to.

Also if you have a tiny amount that you don't want to be reporting, Chase will re-report whenever the balance is brought down to $0.00.

Long time ago, I used Freedom for western union thinking it was my debit card. Even though the amount was in pending charges I could not pay it from "Pay card" interface.

Pushing it from checking worked.

Re: How much does Navy and Chase allow you to pay over current balance?

FlaDude — Tue, 09 Mar 2021 15:36:19 GMT

@Remedios wrote:
Also if you have a tiny amount that you don't want to be reporting, Chase will re-report whenever the balance is brought down to $0.00.

That's why I like using Chase for AZEO, if a balance accidentally reports on another card, I can pay the Chase to zero and still be AZEO for the month.

As far as paying ahead, Chase has generally let me pay pending charges, but no more than that.

Re: How much does Navy and Chase allow you to pay over current balance?

JakeRogue — Wed, 10 Mar 2021 14:42:09 GMT

I do this all the time with my Chase cards. They'll allow you to pay more than current balance up to the amount of pending charges. Shoot for the moon the pay wizard will let you know what the max you can pay when you're typing in the amount into the "Other amount" section.

Re: How much does Navy and Chase allow you to pay over current balance?

Anonymous — Wed, 10 Mar 2021 16:33:18 GMT

Each to their own etc, but just a reminder that to "normal" people (those outside credit card forums), one of the good features of a credit card is the float, the ability to buy things and pay up to nearly two months later (depending on statement cut), without interest charges. Doing AZEO, and worrying about utilization, has a real world opportunity cost. May make sense if you have an important app coming up, but certainly not always!

Amex does not allow that...but you can go through cust svc

W261w261 — Wed, 10 Mar 2021 16:57:45 GMT

Amex only allows a couple of dollars over the balance, but you can call customer service and they'll allow an overpayment. I have a 1k limit on my EDP card, and bought a set of tires for 1050, paying 1000 on the card. That left me with 0 available. I called cust svc, and they allowed a 1000 overpayment. Kind of a pain but I've done it several times

Re: Amex does not allow that...but you can go through cust svc

Horseshoez — Wed, 10 Mar 2021 17:39:01 GMT

@W261w261 wrote:
Amex only allows a couple of dollars over the balance, but you can call customer service and they'll allow an overpayment. I have a 1k limit on my EDP card, and bought a set of tires for 1050, paying 1000 on the card. That left me with 0 available. I called cust svc, and they allowed a 1000 overpayment. Kind of a pain but I've done it several times

Interesting; I'm thinking their rules have changed a bit; I haven't had an AMEX since our businesses failed nearly 8 years ago, however, prior to that I'd had one of their cards for over 30 years. During that span I had several extended road trips where paying a bill would have been problematic; back in 1989 or 1990 I was scheduled to be on a business trip covering much of the Pacific Rim and wasn't going to be able to return home for nearly two months. I called AMEX and was able to pre-pay $10,000 on my Platinum card; when I got back almost all of it had been used.

Re: How much does Navy and Chase allow you to pay over current balance?

MrT_521 — Wed, 10 Mar 2021 23:07:51 GMT

@Loquat wrote:
I wouldn’t recommend creating a huge credit as theirs no need to give the lender an interest free loan.

True. One could argue that any payment before the due date is giving the lender an interest free loan. Or, more accurately, it would be more like not accepting the interest free loan that the lender is offering.

Re: How much does Navy and Chase allow you to pay over current balance?

csl1 — Thu, 11 Mar 2021 00:54:57 GMT

NFCU allows overpayments. I've overpaid by as much as $75 with no problem. I was paying before the statement cut and included the sum of my pending charges in the payment amount. The payment posted prior to the pending transactions, causing the statement to cut with a $75 credit.

Re: How much does Navy and Chase allow you to pay over current balance?

W261w261 — Thu, 11 Mar 2021 21:00:26 GMT

Just tried to pay $75 to USAA with 0 balance and $100 pending. No dice.

Re: How much does Navy and Chase allow you to pay over current balance?

Horseshoez — Thu, 11 Mar 2021 21:17:18 GMT

I think the issue here is pull versus push, to pull money into an account, they may well restrict you to the amout owed, however, if you push via online bill pay, or even the old fashioned send a check via snail mail, you can overpay as much as you want.