Capital One- checking purchasing power before large purchase

[delaney1]

I noticed the other day that I could check my  purchasing power on my Savor. I understand why charge cards offer this feature.  Capital One is pretty easy going with letting charges through, interesting that they are now offering  this feature. I guess it would be useful if you want to go over your limit, and don't want to have to pay down the balance first. I did check by putting in an amount that took me over my credit limit, and it approved me.

[Anonymalous]

That could have been useful this holiday season. I like using my Quicksilver's virtual cards for online purchases, and I kept bumping up against my toy limit despite paying it off a couple times a month. But I definitely don't see that feature on my Quicksilver.

[Jnbmom]

Maybe I am missing something here it's a credit card with a set limit, so they will allow you to see if you can go over your limit then charge you a feee if you do?

[Anonymous]

my capital one savor is a flexible spending credit card(as is my Chase freedom flex) so I know I can go over the limit on those 2 cards. I haven't tried either card. I think a fee might involve but I never read too much into it.

[OmarGB9]

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@Jnbmom wrote:

Maybe I am missing something here it's a credit card with a set limit, so they will allow you to see if you can go over your limit then charge you a feee if you do?

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Capital One doesn't charge over limit fees. 

OP, that's a cool feature I guess. I don't think I've seen it on my QS.

[Anonymalous]

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@Jnbmom wrote:

Maybe I am missing something here it's a credit card with a set limit, so they will allow you to see if you can go over your limit then charge you a feee if you do?

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Not exactly. See below for what I see when I go into "Overlimit Preferences", and then choose "Learn More". Because of concerns like yours, I've currently got it turned off, which is probably why I don't see the option @delaney1 posted.

[OmarGB9]

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@Anonymalous wrote:

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@Jnbmom wrote:

Maybe I am missing something here it's a credit card with a set limit, so they will allow you to see if you can go over your limit then charge you a feee if you do?

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Not exactly. See below for what I see when I go into "Overlimit Preferences", and then choose "Learn More". Because of concerns like yours, I've currently got it turned off, which is probably why I don't see the option @delaney1 posted.

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But the second bullet clearly states they won't charge an overlimit fee.

[Anonymalous]

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@OmarGB9 wrote:

But the second bullet clearly states they won't charge an overlimit fee.

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Yes, that's the point I was making. @Jnbmom said they charged a fee, and I posted a pic showing they do not. I have it turned off because I'm not sure if there are other implications or traps, like with overdraft protection on deposit accounts. It could be a positive feature, or it could be something where they tell the literal truth (that they won't charge an overdraft fee), but don't mention other negative consequences.

In general, I'd like to know more about how it works.

[Jnbmom]

@OmarGB9  Thank you . I guess I am old school . Showing my age 🤣

[OmarGB9]

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@Jnbmom wrote:

@OmarGB9  Thank you . I guess I am old school . Showing my age 🤣

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No problem! I believe in the past they did charge overlimit fees, so that may be where the confusion stems from.