topic Re: FYI on Citi Payments Policy in Credit Cards

FYI on Citi Payments Policy

lhcole77 — Fri, 10 Oct 2014 18:58:10 GMT

Tried to overpay balance last night so that statement would cut with $0. Had a $105 pending payment and a $8.50 pending charge.

Got this message. Not sure if this is new or not. Hadn't tried to overpay like this before. Just an FYI.

Re: FYI on Citi Payments Policy

FinStar — Fri, 10 Oct 2014 18:59:31 GMT

Is this your first statement cycle?

Re: FYI on Citi Payments Policy

rlx01 — Fri, 10 Oct 2014 19:15:06 GMT

This has been the case for a while.

Re: FYI on Citi Payments Policy

SunriseEarth — Fri, 10 Oct 2014 19:18:42 GMT

@lhcole77 wrote:
Tried to overpay balance last night so that statement would cut with $0. Had a $105 pending payment and a $8.50 pending charge.

Got this message. Not sure if this is new or not. Hadn't tried to overpay like this before. Just an FYI.

That sounds typical. As for me, I'm only allowed to pay the amount of the statement balance at Citi. Arg.

Re: FYI on Citi Payments Policy

FinStar — Fri, 10 Oct 2014 19:29:32 GMT

In the event I run into a similar situation for a zero payout (without the balance float), I PIF through Citi and push a payment through my bank for the remaining pending charges.

Re: FYI on Citi Payments Policy

DrZoidberg — Fri, 10 Oct 2014 19:57:46 GMT

Why would you want to report zero? For optimal scoring you need to report at least 1-2%of your limit minimum.

Re: FYI on Citi Payments Policy

Imperfectfuture — Fri, 10 Oct 2014 20:30:13 GMT

@DrZoidberg wrote:
Why would you want to report zero? For optimal scoring you need to report at least 1-2%of your limit minimum.

If reporting on several cards, I (and he) PROBABLY want one card reporting. Unfortunately, I lose out on rewards near cut off date, because I stop purchasing. Hence, the value of more than one reward card (my goal, I'm spoiled with cash back because of grandfathered 1.5% on PayPal debit card for years).

Re: FYI on Citi Payments Policy

lhcole77 — Fri, 10 Oct 2014 20:30:14 GMT

This is my first statement cycle. Already have some cards reporting a balance. Didn't want this one to report yet.

Testing effects on scores in general, though I'm not concerned about optimal at the moment due to being in the garden until late 2015.

Re: FYI on Citi Payments Policy

lhcole77 — Fri, 10 Oct 2014 20:31:10 GMT

@FinStar wrote:
In the event I run into a similar situation for a zero payout (without the balance float), I PIF through Citi and push a payment through my bank for the remaining pending charges.

You. Is. Smart!

Thanks for that input.

Re: FYI on Citi Payments Policy

rlx01 — Fri, 10 Oct 2014 21:24:02 GMT

No need to push payment.

You can pay Citi cards with a debit card over the phone.

Best Citi feature.

Re: FYI on Citi Payments Policy

FinStar — Fri, 10 Oct 2014 21:34:38 GMT

@rlx01 wrote:
No need to push payment.

You can pay Citi cards with a debit card over the phone.

Best Citi feature.

It depends on the timing. Mine was a simple illustration on the options (I don't usually run that close to the cycle date).

You can also pay CITI via ACH with your checking/savings account info - another CITI great payment feature.

Re: FYI on Citi Payments Policy

AvadaKedavra — Wed, 15 Oct 2014 16:04:33 GMT

@rlx01 wrote:
No need to push payment.

You can pay Citi cards with a debit card over the phone.

Best Citi feature.

My balance on my TYP was ~$800 and I only wanted $200 to report so I was trying to pay $600 by 10/16 and it wouldnt let me. In my head I was like "oh hell no" and asked them what the deuce is going on and they said I could do it over the phone. Worked like a charm. Now only if they'll remove the charge for $1364 that's been PENDING since 10/3 from a cancelled Apple store order....

Re: FYI on Citi Payments Policy

Anonymous — Wed, 15 Oct 2014 16:08:32 GMT

@rlx01 wrote:
This has been the case for a while.

+1. This is nothing new and isn't exclusive to Citi. Other lenders won't let you pay anything above the current balance or some small percentage above it.

Re: FYI on Citi Payments Policy

lhcole77 — Wed, 15 Oct 2014 16:24:45 GMT

@Anonymous wrote:
@rlx01 wrote:
This has been the case for a while.
+1. This is nothing new and isn't exclusive to Citi. Other lenders won't let you pay anything above the current balance or some small percentage above it.

It was new to me. I have overpaid on accounts before and never received a message like that. I guess perhaps I was below the threshold on those payments.

Re: FYI on Citi Payments Policy

Anonymous — Wed, 15 Oct 2014 16:30:46 GMT

@lhcole77 wrote:
@Anonymous wrote:
@rlx01 wrote:
This has been the case for a while.
+1. This is nothing new and isn't exclusive to Citi. Other lenders won't let you pay anything above the current balance or some small percentage above it.
It was new to me. I have overpaid on accounts before and never received a message like that. I guess perhaps I was below the threshold on those payments.

Most likely the case.

Re: FYI on Citi Payments Policy

JustinS — Wed, 15 Oct 2014 17:07:08 GMT

While I'm sure this has been said many times and is known to most. Why not just push a payment using your bank's billpay? That's how I've been paying mine so far (granted I have it setup to ACH from one of my accounts as well). Most ccc's don't allow an overpayment higher than 10% over (least from what I've seen thus far).

Re: FYI on Citi Payments Policy

Creditwiser — Wed, 15 Oct 2014 17:14:19 GMT

Cap1 does the same with me. I push a lot of money thru my QS1. I push, pay, push , pay etc and there are times when I become ahead of the payment cycle. It will only let me pay a certain amount. Naturally I too have to be careful on doing this when the statement cuts.

Re: FYI on Citi Payments Policy

lhcole77 — Wed, 15 Oct 2014 17:23:49 GMT

@JustinS wrote:
While I'm sure this has been said many times and is known to most. Why not just push a payment using your bank's billpay? That's how I've been paying mine so far (granted I have it setup to ACH from one of my accounts as well). Most ccc's don't allow an overpayment higher than 10% over (least from what I've seen thus far).

This makes sense based on my past experience.

I was able to get both payments through Citi while staying under threshold so I'm good to go.

Thanks for all the input. I'll keep it in mind in case I need to use it in the future.