Ok to Overpay AMEX SimplyCash For Large Purchase?

[shane82388]

I have an item to purchase for my business and my business credit card (AMEX SimplyCash) only has a $3000 limit...It wont allow me to go over when I check spending power ($3500 purchase) and I doubt a CLI would work at this point in my current situation.

Is it possible to overpay the card on purpose to make room for this item to be purchased?

Is there anything negative about this? 

Thanks for any info.

[redpat]

AFAIK you can't pay over $25 of your balance.  Too bad you don't want to see if you can get a CLI.

[shane82388]

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@redpatwrote:

AFAIK you can't pay over $25 of your balance.  To bad you don't want to see if you can get a CLI.

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I havent been keeping up with this stuff but if its still a soft pull maybe I'd consider it? I'm at the limit right now though and it would probably be automatically denied based on that. Plan was to pay off entire card, plus some, to be able to use it for the purchase.

[simplynoir]

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@shane82388wrote:

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@redpatwrote:

AFAIK you can't pay over $25 of your balance.  To bad you don't want to see if you can get a CLI.

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I havent been keeping up with this stuff but if its still a soft pull maybe I'd consider it? I'm at the limit right now though and it would probably be automatically denied based on that. Plan was to pay off entire card, plus some, to be able to use it for the purchase.

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AMEX CLIs are SPs and assuming you haven't request on any other revolver you have with them you can use the request on the biz card to see if you can get the necessary credit to make your purchase.

[shane82388]

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@simplynoirwrote:

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@shane82388wrote:

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@redpatwrote:

AFAIK you can't pay over $25 of your balance.  To bad you don't want to see if you can get a CLI.

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I havent been keeping up with this stuff but if its still a soft pull maybe I'd consider it? I'm at the limit right now though and it would probably be automatically denied based on that. Plan was to pay off entire card, plus some, to be able to use it for the purchase.

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AMEX CLIs are SPs and assuming you haven't request on any other revolver you have with them you can use the request on the biz card to see if you can get the necessary credit to make your purchase.

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If I pay the whole thing off right now then click the CLI, will it be more likely to work do you think?

[Loquat]

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@shane82388wrote:

I have an item to purchase for my business and my business credit card (AMEX SimplyCash) only has a $3000 limit...It wont allow me to go over when I check spending power ($3500 purchase) and I doubt a CLI would work at this point in my current situation.

Is it possible to overpay the card on purpose to make room for this item to be purchased?

Is there anything negative about this? 

Thanks for any info.

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It may be a YMMV but I did exactly what you're speaking of.  When I first got my SPG card my limit was $3k.  I wanted to knock out the spend bonus at one time.  I had just recently purchased a new GMC Yukon Denali.  Sales tax on that bad boy was roughly $5600.  I pushed $3k from my bank account to Amex...once it posted I called customer service and told them my plans.  Was told that it shouldn't be a problem and the guy even offered to hold the line while made the charge.  I informed him that I wasn't calling from the DMV but wanted to see if there would be an issue.  He said it wouldn't be a problem and it wasn't.  Charge it to my SPG and the purchase went through without issue.  Again, if this is something you're wanting to do...call or chat ahead and make them aware. 

[SouthJamaica]

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@shane82388wrote:

I have an item to purchase for my business and my business credit card (AMEX SimplyCash) only has a $3000 limit...It wont allow me to go over when I check spending power ($3500 purchase) and I doubt a CLI would work at this point in my current situation.

Is it possible to overpay the card on purpose to make room for this item to be purchased?

Is there anything negative about this? 

Thanks for any info.

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I think you could but why not just split the payment, paying let's say 750 by check and the remaining 2750 with the card.

[Creditaddict]

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@shane82388wrote:

I have an item to purchase for my business and my business credit card (AMEX SimplyCash) only has a $3000 limit...It wont allow me to go over when I check spending power ($3500 purchase) and I doubt a CLI would work at this point in my current situation.

Is it possible to overpay the card on purpose to make room for this item to be purchased?

Is there anything negative about this? 

Thanks for any info.

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Checking spend currently while the card is maxed out is going to be different then after you pay the entire thing off... I would be surprised if the $3500 didn't go through once you made the payment.

But I would make the payment and then ask for CLI to $9k, 3x current and see if you can get a little more room.

Otherwise, as others stated you just have to push the amount above your balance directly from your bank instead of paying on amex.