Capital One- checking purchasing power before large purchase

[Remedios]

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@BronzeTrader wrote:

Even if you could go over the CL without fee charged.  The question is that, should you go beyong the credit limit?

The limit is set for a reason.  The CC bank may not charge the fee.  But I just do not think CC bank considers that to be a positive thing to go over limit.

Just my two cents.

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If you go over the limit because you're drowning and interest payment pushes you past the limit, probably not a good thing.

If it's large purchase and lender wants it on their card, they will allow transaction. It's not like they have to approve it just because someone wants it. 

Additionally, that ability to go over the limit is "selling point" for Signature, Infinite, and Elite cards, so I'm not quite sure why you'd think banks assume everyone is broke or about to be. It's a way for them to get large purchase on their card without having to raise limits, and therefore reserves by extension 

Also, given your love for Amex....they live for this, so I'm double unsure why someone else doing it is giving you pause, but when you talk about Amex, you use situations like those as an example of successful "relationship" 

[Brian_Earl_Spilner]

True infinite and world elite cards have flexible limits. Unfortunately, cap1 has made all of their cards world elite or infinite without all the perks which is why people can't find the option on their quicksilvers. I'm sure there are people with true world elite quicksilvers with the option. That being said, a flexible limit card typically requires you to pay any overage along with your minimum payment come the next statement. Another thing to note, your balance will report to the bureaus as over 100% utilization as they don't distinguish between hard or flexible limits. 

[ptatohed]

Oh man... using my PC, there is an arrow to click to cycle through my three Cap1 cards - Savor (sock drawered but active), Quicksilver (long closed), and WalMart (used regularly).  Well, I swear, as I cycled continuously, one time, and one time only I got the Planning a Large Purchase? question (along with 2 other options that I forget).  I can't seem to reproduce it.  Now I just see "No cost to upgrade.....".  I don't see anything for QS or WM.   

[NoMoreDebt]

Just logged into my Quicksilver account and notice they added a feature that allows you to check your purchase power in real time. I have never noticed this before so im assuming this a new feature just added?

If one was to want to purchase beyond their actual credit limit I wonder how that would work if even approved

[Horseshoez]

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@NoMoreDebt wrote:

Just logged into my Quicksilver account and notice they added a feature that allows you to check your purchase power in real time. I have never noticed this before so im assuming this a new feature just added?

If one was to want to purchase beyond their actual credit limit I wonder how that would work if even approved

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There was another thread created on this topic a week or two back; apparently it only shows up for some folks (I have yet to see it), and only when you the "Allow over-limit purchases?" switch set to "Yes" (which I have).

[citymunky]

I don't have this option.

[BronzeTrader]

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@NoMoreDebt wrote:

Just logged into my Quicksilver account and notice they added a feature that allows you to check your purchase power in real time. I have never noticed this before so im assuming this a new feature just added?

If one was to want to purchase beyond their actual credit limit I wonder how that would work if even approved

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Cap1 do not have charge cards.  Not sure why it offers this feature.  I'll simply ignore it.  Sure I'll contact them if I wan to charge anything more than $10,000.

[FireMedic1]

The 3 below have the NSPL tag. Go OTL. Has to be paid the next month. Says no go.

[Horseshoez]

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@BronzeTrader wrote:

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@NoMoreDebt wrote:

Just logged into my Quicksilver account and notice they added a feature that allows you to check your purchase power in real time. I have never noticed this before so im assuming this a new feature just added?

If one was to want to purchase beyond their actual credit limit I wonder how that would work if even approved

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Cap1 do not have charge cards.  Not sure why it offers this feature.  I'll simply ignore it.  Sure I'll contact them if I wan to charge anything more than $10,000.

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The feature is because CapOne allows you to charge over your credit limit, to a certain degree.  I found this out last summer when I was paying for plane tickets, hotel reservations, and car rentals for a vacation and exceeded my limit; had I known there was a way to see how much above my limit I could go, I would have used it.  The good news is not only did CapOne not hit me with any overlimit charges, but they bumped my limit by 50% a week or so later.

[Brian_Earl_Spilner]

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@BronzeTrader wrote:

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@NoMoreDebt wrote:

Just logged into my Quicksilver account and notice they added a feature that allows you to check your purchase power in real time. I have never noticed this before so im assuming this a new feature just added?

If one was to want to purchase beyond their actual credit limit I wonder how that would work if even approved

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Cap1 do not have charge cards.  Not sure why it offers this feature.  I'll simply ignore it.  Sure I'll contact them if I wan to charge anything more than $10,000.

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All cap1 cards are world elite mastercards now. One of the features, if a lender allows it, is a flexible limit.

For op, when you spend over your limit the overage is due on the next due date after statement along with minimum payment. One thing to keep in mind is your reports keep track of limit and highest reported balance. How another lender interprets that could be problematic.