CSP got double charged 8k and "maxed" me out... Transfer CLs to fix issue?

[dabearsv2]

I had a wedding vendor double charge me (on accident) for $8,000. This put me at $16,000 balance, even though my CL is $11,500. The charges were authorized because I have a rolling credit line on my CSP apparently.  The vendor decided to credit back my account, but that takes 3-5 days, so now I am showing a $16,000 balance on my $11,500 card.

Question: Even though Chase said this will not impact me negatively, will they report to the CRAs my high balance, and in essence claim that I maxed out my cc? I have a payment going thru today/tonight and my statement cut is not for 3 weeks...

[yfan]

It won't report until your statement period closes. So unless it doesn't get reversed by then, you have nothing to worry about.

[trumpet-205]

CSP is Visa Signature. Visa Signature allows you to exceed your revolving credit limit, provided you pay exceeded amount in full by due date.

Don't worry about it.

[-NewGuy-]

I do have to say that Chase has been known to report to CRAs more than once a month in some cases. Not sure of the specifics, but it's happened to me before.

Having said that, even if that were to happen it would only affect your score for a short time. And it probably won't happen at all.

[dabearsv2]

phew. thanks!!

I had a hard time sleeping last night! Was worried all my hard work fixing my credit would be screwed by 1 vendor error

[TheGardner]

It may report "high balance " but that won't hurt you.. May even help showing you can pay off a 16 k balance allowing for higher limits in the future.

Also, is the charge just showing as pending? Or did it actually pay out the additional 8k?

[Burned2manybridgesB4]

Yeah, that'd be sweet...showing a 16k reported balance, then having the chargeback hit...perfect scenario to have your other creditors take a closer look, and do AA, if your income can't fit a 16k charge...ugh.

[dabearsv2]

both charges posted. I caught it immediately, but Chase was unable to cancel the pre-authorization because of the high dollar amount. The vendor could have called to cancel it, but they said they had to credit me (so now I am waiting).

I will be under my CL as of tonight, so I have nothing to worry about, so it seems? If so, alls well that ends well!

[Anonymous]

Best of luck to you. I hope and think it'll work out. I don't blame you, though; I'd be sweating bullets worried that they'd have issues crediting my account.

[pip3man]

That $16k will eventually be reported as your high balance even if they had reversed the charges that same day but I don't think that really affects you.