CapitalOne over limit

[Horseshoez]

My wife and I are planning a European and Icelandic vacation this summer and on Sunday I purchased airfare and hotel accomodations on my CapOne Quicksilver card as I don't have any "Travel" cards.  Cutting to the chase, before the purchases my Quicksilver card had a $0.00 balance, after the second purchase I got a notification from CapOne the charge had been approved but I was over the limit on the card; albeit only by $10.13.  I immediately scheduled a "push" payment from my bank to pay the card off in full, which should hit today; so basically my card will have gone from zero to over the limit and back to zero in a span of 72 hours.

I have no experience with over the limit balances and very little experience with CapOne; will my excursion into over limit territory hurt my chances of a CLI?  I've been planning on asking one just prior to embarking on our vacation in August given my Quicksilver card is one of my two cards which don't charge foreign transaction fees.

[GatorGuy]

Capital One doesn't charge over the limit fees. They like for you to use your limit and since you are paying it off it shouldn't impact you. If anything you are more likely to get a CLI since you are using your card so heavy.

[Murph5065]

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@GatorGuy wrote:

Capital One doesn't charge over the limit fees. They like for you to use your limit and since you are paying it off it shouldn't impact you. If anything you are more likely to get a CLI since you are using your card so heavy.

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I wish i keep both cap1 at limit and had one 10 to 12 yrs and the other at 8 yrs no cli for me

[Anonymous]

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@GatorGuy wrote:

Capital One doesn't charge over the limit fees. 

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The CARD Act bans over the limit fees unless the user opts in to them.   I've never been given an opportunity to opt in and not sure that any (at least mainstream) issuer does this.   Issuers have the option to decline any charge that puts you over the limit without the opt in, but then they can decline any charge anyway!

[Horseshoez]

Thanks for the responses folks.

A quick update; my payment hasn't posted yet so I'm still over the limit; however, they just approved my monthly $19.99 Netflix charge which in turn takes me up to a whopping $30.12 over my limit.  For the moment at least, it sounds like I'm still in their good graces.

[OmarGB9]

I think you'll be fine. Cap One is pretty lenient in that respect. 

[GZG]

I know I personally disabled the ability to do that when I got access to my new Cap1 account because I saw this in the email I got congrautlating me for getting the card. 

I too want to put spending on the card in hopes of a less bucketed future CLI, and if some text somewhere says "staying within your credit lines" might be a part of "responsible use", I'd rather just push the payments through and deal with a slight inconvience than take advantage of the overage feature. I'm sure they're probably talking about not keeping a high utlization, but who knows. 

I'm sure it's nothing considering ON is the default setting. Why would they offer the overage feature if they didn't want people to use it?, but I personally disabled it. YMMV

[Horseshoez]

Thanks @GZG, time will tell if I hurt myself, for the moment at least I am 0.91% over my credit limit, so not exactly a huge amount; as of tonight when they post the payment my balance will drop to $19.99, so I should be good to go.  Come August I'll ask for a CLI and will report back.

[righthererightnow]

You should be fine. I've gone over my limit many times, and still received CLI. What's more important to them is that you pay off your balance and keep Utilization low. : )

[JFox418]

yep you'll be fine. The only thing I would be concerned about would be a statement closing with a balance over the limit. That would be bad, at least while it was reported. It would come back once paid down.

I can confirm that Cap1 likes spending and holding balances. Way more likely to give you Auto CLI if you do that. I had to carry some balances for a year or two and received 6 month Auto CLIs.