topic Re: CapitalOne over limit in Credit Cards

CapitalOne over limit

Horseshoez — Wed, 22 Jun 2022 13:10:12 GMT

My wife and I are planning a European and Icelandic vacation this summer and on Sunday I purchased airfare and hotel accomodations on my CapOne Quicksilver card as I don't have any "Travel" cards. Cutting to the chase, before the purchases my Quicksilver card had a $0.00 balance, after the second purchase I got a notification from CapOne the charge had been approved but I was over the limit on the card; albeit only by $10.13. I immediately scheduled a "push" payment from my bank to pay the card off in full, which should hit today; so basically my card will have gone from zero to over the limit and back to zero in a span of 72 hours.

I have no experience with over the limit balances and very little experience with CapOne; will my excursion into over limit territory hurt my chances of a CLI? I've been planning on asking one just prior to embarking on our vacation in August given my Quicksilver card is one of my two cards which don't charge foreign transaction fees.

Re: CapitalOne over limit

GatorGuy — Wed, 22 Jun 2022 13:25:02 GMT

Capital One doesn't charge over the limit fees. They like for you to use your limit and since you are paying it off it shouldn't impact you. If anything you are more likely to get a CLI since you are using your card so heavy.

Re: CapitalOne over limit

Murph5065 — Wed, 22 Jun 2022 13:27:41 GMT

@GatorGuy wrote:
Capital One doesn't charge over the limit fees. They like for you to use your limit and since you are paying it off it shouldn't impact you. If anything you are more likely to get a CLI since you are using your card so heavy.

I wish i keep both cap1 at limit and had one 10 to 12 yrs and the other at 8 yrs no cli for me

Re: CapitalOne over limit

Anonymous — Wed, 22 Jun 2022 14:28:28 GMT

@GatorGuy wrote:
Capital One doesn't charge over the limit fees.

The CARD Act bans over the limit fees unless the user opts in to them. I've never been given an opportunity to opt in and not sure that any (at least mainstream) issuer does this. Issuers have the option to decline any charge that puts you over the limit without the opt in, but then they can decline any charge anyway!

Re: CapitalOne over limit

Horseshoez — Wed, 22 Jun 2022 14:59:07 GMT

Thanks for the responses folks.

A quick update; my payment hasn't posted yet so I'm still over the limit; however, they just approved my monthly $19.99 Netflix charge which in turn takes me up to a whopping $30.12 over my limit. For the moment at least, it sounds like I'm still in their good graces.

Re: CapitalOne over limit

OmarGB9 — Wed, 22 Jun 2022 17:07:10 GMT

I think you'll be fine. Cap One is pretty lenient in that respect.

Re: CapitalOne over limit

GZG — Wed, 22 Jun 2022 18:15:15 GMT

I know I personally disabled the ability to do that when I got access to my new Cap1 account because I saw this in the email I got congrautlating me for getting the card.

I too want to put spending on the card in hopes of a less bucketed future CLI, and if some text somewhere says "staying within your credit lines" might be a part of "responsible use", I'd rather just push the payments through and deal with a slight inconvience than take advantage of the overage feature. I'm sure they're probably talking about not keeping a high utlization, but who knows.

I'm sure it's nothing considering ON is the default setting. Why would they offer the overage feature if they didn't want people to use it?, but I personally disabled it. YMMV

Re: CapitalOne over limit

Horseshoez — Wed, 22 Jun 2022 18:55:54 GMT

Thanks @GZG, time will tell if I hurt myself, for the moment at least I am 0.91% over my credit limit, so not exactly a huge amount; as of tonight when they post the payment my balance will drop to $19.99, so I should be good to go. Come August I'll ask for a CLI and will report back.

Re: CapitalOne over limit

righthererightnow — Wed, 22 Jun 2022 20:14:22 GMT

You should be fine. I've gone over my limit many times, and still received CLI. What's more important to them is that you pay off your balance and keep Utilization low. : )

Re: CapitalOne over limit

JFox418 — Thu, 23 Jun 2022 12:44:02 GMT

yep you'll be fine. The only thing I would be concerned about would be a statement closing with a balance over the limit. That would be bad, at least while it was reported. It would come back once paid down.

I can confirm that Cap1 likes spending and holding balances. Way more likely to give you Auto CLI if you do that. I had to carry some balances for a year or two and received 6 month Auto CLIs.

Re: CapitalOne over limit

Horseshoez — Thu, 23 Jun 2022 19:14:29 GMT

@JFox418 wrote:
yep you'll be fine. The only thing I would be concerned about would be a statement closing with a balance over the limit. That would be bad, at least while it was reported. It would come back once paid down.

I can confirm that Cap1 likes spending and holding balances. Way more likely to give you Auto CLI if you do that. I had to carry some balances for a year or two and received 6 month Auto CLIs.

Hmmm, I pretty much don't carry balances, regardless of financial institution or card. In the 26 months since I got my first credit card after my Chapter 13 discharge, I have yet to carry a balance or pay a penny of interest in spite of the fact I've charged almost $90,000 on them. I did just log into my CapOne account and see my balanced dropped to the expected $19.99, so I should be good to go.

Re: CapitalOne over limit

JFox418 — Thu, 23 Jun 2022 19:52:00 GMT

@Horseshoez wrote:
@JFox418 wrote:
yep you'll be fine. The only thing I would be concerned about would be a statement closing with a balance over the limit. That would be bad, at least while it was reported. It would come back once paid down.

I can confirm that Cap1 likes spending and holding balances. Way more likely to give you Auto CLI if you do that. I had to carry some balances for a year or two and received 6 month Auto CLIs.
Hmmm, I pretty much don't carry balances, regardless of financial institution or card. In the 26 months since I got my first credit card after my Chapter 13 discharge, I have yet to carry a balance or pay a penny of interest in spite of the fact I've charged almost $90,000 on them. I did just log into my CapOne account and see my balanced dropped to the expected $19.99, so I should be good to go.

Yeh, I definitely DIDN'T want to carry balances at the time but had to. Cap1 showed me they appreciated the interest I was paying.

Re: CapitalOne over limit

Horseshoez — Mon, 18 Jul 2022 01:24:28 GMT

CapitalOne over limit update...

As I mentioned up stream, I paid the card down nearly zero (a few small charges posted between the day I went over limit and when my payment cleared) three days after running my balance from zero to about ten dollars over my limit. I again paid the card to zero just prior to the due date this month and today my latest statement was cut showing the zero balance. Figuring "no time like the present" I clicked on the "Request Credit Line Increase" link on my card and was happy to see they granted me a $1,500 bump to my limit. I figure that will cover me for the foreseeable future.

Re: CapitalOne over limit

arifjk — Mon, 18 Jul 2022 12:20:00 GMT

Congrats for the CLI. That should give you some leeway for your excursion during your travel.

Re: CapitalOne over limit

Anonymalous — Mon, 18 Jul 2022 15:53:36 GMT

@Horseshoez wrote:
CapitalOne over limit update...

As I mentioned up stream, I paid the card down nearly zero (a few small charges posted between the day I went over limit and when my payment cleared) three days after running my balance from zero to about ten dollars over my limit. I again paid the card to zero just prior to the due date this month and today my latest statement was cut showing the zero balance. Figuring "no time like the present" I clicked on the "Request Credit Line Increase" link on my card and was happy to see they granted me a $1,500 bump to my limit. I figure that will cover me for the foreseeable future.

That's a really big CLI from Cap1. What was your CL, before the increase?

Re: CapitalOne over limit

Horseshoez — Tue, 19 Jul 2022 16:03:14 GMT

@Anonymalous wrote:
@Horseshoez wrote:
CapitalOne over limit update...

As I mentioned up stream, I paid the card down nearly zero (a few small charges posted between the day I went over limit and when my payment cleared) three days after running my balance from zero to about ten dollars over my limit. I again paid the card to zero just prior to the due date this month and today my latest statement was cut showing the zero balance. Figuring "no time like the present" I clicked on the "Request Credit Line Increase" link on my card and was happy to see they granted me a $1,500 bump to my limit. I figure that will cover me for the foreseeable future.
That's a really big CLI from Cap1. What was your CL, before the increase?

I started at $3,000 in December 2020; I asked for a CLI four months later and got a $300 bump to $3,300. Last summer or early fall (don't remember exactly when) I asked for another and they denied me saying not enough time had gone by since my last CLI request. This time I got $1,500 which brought me up to $4,800.

Data points on how I've used the card; in the 20 months since I got it I've never carried a balance (although a few statements have shown a few trivial charges of no more than $50 which cleared between the due date and the statement date); that said, there have been two or three times now I've run in excess of $4,000 through the account within one billing period, and most monthly cycles show a transactional volume which handily exceed $2,000.

Re: CapitalOne over limit

Anonymalous — Tue, 19 Jul 2022 16:17:08 GMT

@Horseshoez wrote:
@Anonymalous wrote:
That's a really big CLI from Cap1. What was your CL, before the increase?
I started at $3,000 in December 2020; I asked for a CLI four months later and got a $300 bump to $3,300. Last summer or early fall (don't remember exactly when) I asked for another and they denied me saying not enough time had gone by since my last CLI request. This time I got $1,500 which brought me up to $4,800.

Data points on how I've used the card; in the 20 months since I got it I've never carried a balance (although a few statements have shown a few trivial charges of no more than $50 which cleared between the due date and the statement date); that said, there have been two or three times now I've run in excess of $4,000 through the account within one billing period, and most monthly cycles show a transactional volume which handily exceed $2,000.

Thanks for the DPs. The +$300 is their standard 10% increase, but the +$1,500 is definitely exceptional. The part about never carrying a balance is encouraging, and disproves some other posters' assertions. It does show that C1 likes big spend, which we knew, but quantifying it helps.

Re: CapitalOne over limit

GatorGuy — Tue, 19 Jul 2022 17:52:44 GMT

@JFox418 wrote:
@Horseshoez wrote:
@JFox418 wrote:
yep you'll be fine. The only thing I would be concerned about would be a statement closing with a balance over the limit. That would be bad, at least while it was reported. It would come back once paid down.

I can confirm that Cap1 likes spending and holding balances. Way more likely to give you Auto CLI if you do that. I had to carry some balances for a year or two and received 6 month Auto CLIs.
Hmmm, I pretty much don't carry balances, regardless of financial institution or card. In the 26 months since I got my first credit card after my Chapter 13 discharge, I have yet to carry a balance or pay a penny of interest in spite of the fact I've charged almost $90,000 on them. I did just log into my CapOne account and see my balanced dropped to the expected $19.99, so I should be good to go.
Yeh, I definitely DIDN'T want to carry balances at the time but had to. Cap1 showed me they appreciated the interest I was paying.

I can confirm that you do not have to carry a balance or pay interest to get CLI from Capital One. I have never done either with Capital One but have gotten many auto CLIs and requested CLIs from them.

They do like heavy spend though.