topic Re: Apping While Over The Credit Limit in Credit Cards

Apping While Over The Credit Limit

Cotton_Britches — Fri, 30 Dec 2011 16:04:07 GMT

I paid off a credit card this week but at the moment, it shows over-the-limit on my report due to an automatic payment I forgot about. The card won't update until next month.

I wanted to app for an Amazon Visa. Will that over-the-limit balance hurt my chances? Should I just wait until next month or February and app then?

Thanks.

Re: Apping While Over The Credit Limit

LS2982 — Fri, 30 Dec 2011 16:05:58 GMT

@Cotton_Britches wrote:
I paid off a credit card this week but at the moment, it shows over-the-limit on my report due to an automatic payment I forgot about. The card won't update until next month.

I wanted to app for an Amazon Visa. Will that over-the-limit balance hurt my chances? Should I just wait until next month or February and app then?

Thanks.

I would wait, the computer may flag it and deny you.

Re: Apping While Over The Credit Limit

Anonymous — Fri, 30 Dec 2011 16:12:11 GMT

I would wait till your reports update next month.

Re: Apping While Over The Credit Limit

Anonymous — Fri, 30 Dec 2011 16:25:33 GMT

I would wait until your CR updates.

Re: Apping While Over The Credit Limit

jefftca925 — Fri, 30 Dec 2011 16:59:33 GMT

+1000 An over limit card showing on a CBR is a deal-breaker for sure

Re: Apping While Over The Credit Limit

boomhower — Fri, 30 Dec 2011 17:21:35 GMT

Wait until it updates. If for nothing else it's killling your UT, your score will go up quite a bit with it payed off. What's the rest of your report look like. The Amazon Visa is through Chase and not the easiest thing in the world to get. If your report isn't top notch go for the store card, it has great financing deals but no rewards. It's through GEMB.

Re: Apping While Over The Credit Limit

pizzadude — Fri, 30 Dec 2011 17:40:57 GMT

I agree that you should wait. What will your overall %util look like once it reports as paid ??

Re: Apping While Over The Credit Limit

Cotton_Britches — Fri, 30 Dec 2011 19:27:16 GMT

@pizzadude wrote:

I agree that you should wait. What will your overall %util look like once it reports as paid ??

Zero. I have no balances on any other cards at the moment.

I'll wait until next month. Patience is a virtue, they say.

Re: Apping While Over The Credit Limit

sdoonan — Fri, 30 Dec 2011 19:35:33 GMT

@Cotton_Britches wrote:
@pizzadude wrote:

I agree that you should wait. What will your overall %util look like once it reports as paid ??
Zero. I have no balances on any other cards at the moment.

I'll wait until next month. Patience is a virtue, they say.

+1.

I tried the same thing once; although it wasn't an actual max out, it was at 90% util on this particular card, I still got denied.

(I guess I know where my tax refund is going this year! )

Re: Apping While Over The Credit Limit

Uncle_Money — Fri, 30 Dec 2011 20:48:26 GMT

Wait it out. Everything should be prestine prior to submitting a credit application.

My new rule is no apping until my utilization is at 7% or less and inquiries are at least six months old.

I never, ever want to see "we couldn't approve your application at this time" again!

Re: Apping While Over The Credit Limit

LS2982 — Fri, 30 Dec 2011 21:12:00 GMT

@Uncle_Money wrote:
Wait it out. Everything should be prestine prior to submitting a credit application.

My new rule is no apping until my utilization is at 7% or less and inquiries are at least six months old.

I never, ever want to see "we couldn't approve your application at this time" again!

UM

Same here!

Re: Apping While Over The Credit Limit

Anonymous — Sat, 31 Dec 2011 00:00:17 GMT

go for it

Re: Apping While Over The Credit Limit

JusdoNit — Sat, 31 Dec 2011 07:06:54 GMT

@Uncle_Money wrote:
Wait it out. Everything should be prestine prior to submitting a credit application.

My new rule is no apping until my utilization is at 7% or less and inquiries are at least six months old.

I never, ever want to see "we couldn't approve your application at this time" again!

UM

YES! YES!!!!

Re: Apping While Over The Credit Limit

GB44 — Sat, 31 Dec 2011 16:14:18 GMT

@Anonymous wrote:
go for it

Just wondering your thought behind this?

Re: Apping While Over The Credit Limit

Anonymous — Sat, 31 Dec 2011 16:29:53 GMT

@GB44 wrote:
@Anonymous wrote:
go for it
Just wondering your thought behind this?

every other person says wait, im internet kinda guy, i want everything now. if the computer says no im a firm believer of the recon and talking to them and tell them ur story

Re: Apping While Over The Credit Limit

GB44 — Sat, 31 Dec 2011 17:16:27 GMT

@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
go for it
Just wondering your thought behind this?

every other person says wait, im internet kinda guy, i want everything now. if the computer says no im a firm believer of the recon and talking to them and tell them ur story

Ok. However, I think that OP is looking for the best conditions for approval. I think that apping while over the limit would lead to an instant denial and if approved on recon it would probably be at a lower limit than could have been attained by waiting.

Just my thoughts.

Re: Apping While Over The Credit Limit

Anonymous — Sat, 31 Dec 2011 17:28:24 GMT

@GB44 wrote:
@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
go for it
Just wondering your thought behind this?

every other person says wait, im internet kinda guy, i want everything now. if the computer says no im a firm believer of the recon and talking to them and tell them ur story
Ok. However, I think that OP is looking for the best conditions for approval. I think that apping while over the limit would lead to an instant denial and if approved on recon it would probably be at a lower limit than could have been attained by waiting.

Just my thoughts.

and me thoughts r if u want something go 4 it and dont stop till u get it... no try, only do or not do

Re: Apping While Over The Credit Limit

Odiseous — Sat, 31 Dec 2011 17:41:06 GMT

@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
go for it
Just wondering your thought behind this?

every other person says wait, im internet kinda guy, i want everything now. if the computer says no im a firm believer of the recon and talking to them and tell them ur story
Ok. However, I think that OP is looking for the best conditions for approval. I think that apping while over the limit would lead to an instant denial and if approved on recon it would probably be at a lower limit than could have been attained by waiting.

Just my thoughts.
and me thoughts r if u want something go 4 it and dont stop till u get it... no try, only do or not do

Didn't someone on this board recently follow that general thought process, for a particular AmEx they were after; then get FR'd for the 3rd year in a row?

I think a better plan, would be to decide what you want; then research what it would take, to maximize your chance of success of attaining it. Once the research is complete, go from there.

Re: Apping While Over The Credit Limit

Anonymous — Sat, 31 Dec 2011 17:46:11 GMT

@Odiseous wrote:
@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
go for it
Just wondering your thought behind this?

every other person says wait, im internet kinda guy, i want everything now. if the computer says no im a firm believer of the recon and talking to them and tell them ur story
Ok. However, I think that OP is looking for the best conditions for approval. I think that apping while over the limit would lead to an instant denial and if approved on recon it would probably be at a lower limit than could have been attained by waiting.

Just my thoughts.
and me thoughts r if u want something go 4 it and dont stop till u get it... no try, only do or not do
Didn't someone on this board recently follow that general thought process, for a particular AmEx they were after; then get FR'd for the 3rd year in a row?

I think a better plan, would be to decide what you want; then research what it would take, to maximize your chance of success of attaining it. Once the research is complete, go from there.

if u dont lie, why balk at FR?

Re: Apping While Over The Credit Limit

GB44 — Sat, 31 Dec 2011 17:51:43 GMT

@Anonymous wrote:
@Odiseous wrote:
@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
@GB44 wrote:
@Anonymous wrote:
go for it
Just wondering your thought behind this?

every other person says wait, im internet kinda guy, i want everything now. if the computer says no im a firm believer of the recon and talking to them and tell them ur story
Ok. However, I think that OP is looking for the best conditions for approval. I think that apping while over the limit would lead to an instant denial and if approved on recon it would probably be at a lower limit than could have been attained by waiting.

Just my thoughts.
and me thoughts r if u want something go 4 it and dont stop till u get it... no try, only do or not do
Didn't someone on this board recently follow that general thought process, for a particular AmEx they were after; then get FR'd for the 3rd year in a row?

I think a better plan, would be to decide what you want; then research what it would take, to maximize your chance of success of attaining it. Once the research is complete, go from there.

if u dont lie, why balk at FR?

So, then based on your logic.........you are coming out of the garden to apply for the BCP that you mention on the gardening post?

Please keep us updated on your approval.