topic Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL in Credit Cards

Overpaid Cap 1 card to get to zero and they still took a charge off my CL

AzCreditGuy — Sun, 26 Mar 2023 15:06:41 GMT

I only use Cap 1 for my legal shield every month which is $24.95. Well since I have the too many cards with balances code on my fico, Ive decided to bring down 4 cards to zero. Hoping this will bump up my scores. I overpaid what was due this month by $24.95, thinking once that the legal shield posts to the card, that it would zero out. Nope Cap 1 took the $24.95 out of my CL, instead of zeroing out the balance?

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

TimFlorida — Sun, 26 Mar 2023 15:18:18 GMT

The new legalshield transaction is still pending, it hasn't cleared yet. I'm guessing all with straighten out when it posts.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

SouthJamaica — Sun, 26 Mar 2023 15:25:02 GMT

@AzCreditGuy wrote:
I only use Cap 1 for my legal shield every month which is $24.95. Well since I have the too many cards with balances code on my fico, Ive decided to bring down 4 cards to zero. Hoping this will bump up my scores. I overpaid what was due this month by $24.95, thinking once that the legal shield posts to the card, that it would zero out. Nope Cap 1 took the $24.95 out of my CL, instead of zeroing out the balance?

Not to worry. It's showing a credit balance of 24.95. That will post as zero.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

CreditMarathoner — Sun, 26 Mar 2023 21:03:57 GMT

Most banks will take pending charges out of your available credit line even if you have a credit balance. Once the charge posts, your actual balance will adjust to zero and your available credit will reflect this.

It should also report as zero when your statement cuts.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

AzCreditGuy — Sun, 26 Mar 2023 22:28:16 GMT

Thanks for the info, I feel I have experienced this before but the overage actually didnt get removed from my CL, from another card that wasnt Cap 1.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

UncleB — Sun, 26 Mar 2023 23:29:24 GMT

As others have already mentioned this is normal behavior for Capital One.

I once accidentally paid my old Quicksilver twice, and rather than request an overpayment refund I just let the credit 'ride'. For an entire month I saw transations that were pending deducted from my available credit, then a few days later when they posted my available credit would go back to 100% of my CL, and the credit balance would be reduced.

This effectively prevents people from giving themselves an artificially higher credit limit by making a payment in advance.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

bthebuilder — Mon, 27 Mar 2023 22:24:10 GMT

Cap one never lets me overpay my QS. Even worse is it takes forever to get my available credit back after a payment. They reguarly wait 14 or 15 days to pull the payment from my checking at 2 seprate banks. They act like some First Premier subprime card.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

TMDSCT — Tue, 28 Mar 2023 14:02:33 GMT

Ah.. CrapitalOne...

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

FireMedic1 — Tue, 28 Mar 2023 20:58:01 GMT

@TMDSCT wrote:
Ah.. CrapitalOne...

@TMDSCT Whats your point? I overpaid my AMEX last month. Is it AMEX's fault or Cap1's fault we both over paid. Back to topic.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

Horseshoez — Tue, 28 Mar 2023 16:26:14 GMT

@bthebuilder wrote:
Cap one never lets me overpay my QS. Even worse is it takes forever to get my available credit back after a payment. They reguarly wait 14 or 15 days to pull the payment from my checking at 2 seprate banks. They act like some First Premier subprime card.

CapOne will not "pull" a payment for more than has cleared, but many folks, myself included, "push" payments to CapOne. In this way, I can schedule a push today for the amount I know will be my balance in a few days; even if my push payment gets there before the pending charges post, I'm still covered.

Re: Overpaid Cap 1 card to get to zero and they still took a charge off my CL

Kforce — Tue, 28 Mar 2023 17:33:02 GMT

^^^ This

If one wants to do AZEO on a regular basis.

Continue full use of the card, and receive full reward benefits.

The only way is to push payments.

The only card where it causes a loss of rewards, that I am aware of, is City Double Cash

And even then the loss is extremely small

If one only does AZEO every two years for an upcoming loan app.

Just lose rewards, stop using early, pay early, eat the small rewards loss,

and benefit from a higher score for the new loan.

I don't do AZEO monthly, however prefer pushing for a lot of other reasons.

Have been pushing all payments for all my cards for 5+ years.