Go overlimit and pay off before closing date

[minipoly1]

I have a Discover IT cc. Today I plan to make a large purchase, apparently bigger than CL available.

I plan to pay off right after it showing on my balance and before closing date. Will they report over limit to CRAs?

[sccredit]

Are you sure the charge will go through?

[minipoly1]

This is also one of my concern. The charge is $50 bigger than my available CL. My CL for this card is 1K. Should I call them first?

[andre181]

Discover usually will let you go overlimit as long as your account is in good standing. And there is no over limit fee if you have an IT. But they don't make any guarantees about the ability to exceed your credit limit. But it can't hurt to ask them first.

If you pay before the statement closes, the high balance most likely won't show over the limit.

[Walt_K]

I have no specific experience with Discover on this, but you can usually push a payment from your bank's bill pay resulting in a credit and then run the large charge.  That way you never go over limit.

[minipoly1]

I use it as my main card, usually pay off so that the reporting balance is around 50-100

[enharu]

Call and ask if they can approve the charge. Then pay it down so it doesn't appear over limit. It's good to let your card report a high balance once, just so other creditors can see you are using your cards. Do not do this however if you are already reporting high balances on other cards or plan to apply for new cards or loans anytime soon.

[LS2982]

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@andre181 wrote:

Discover usually will let you go overlimit as long as your account is in good standing. And there is no over limit fee if you have an IT. But they don't make any guarantees about the ability to exceed your credit limit. But it can't hurt to ask them first.

If you pay before the statement closes, the high balance most likely won't show over the limit.

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I think if you have a strong positive payment history with them they will be more inclined to let you go overlimit. I wouldn't do it often but I IMO if you PIF quickly you might bring some auto-luv your way!!!!

[webhopper]

In my experience; discover will hold it against you in their internal scoring system; causing your limit not to be increased over time. I have called in and requested a CLI before; only to be declined because I had gone over my limit within the last 12 months. At that time discover was my only card and it had a 3500 limit. I recommend that you call and ask for a modest increase to 1200 so that you can safely make this charge without exceeding your credit limit.

[LS2982]

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@webhopper wrote:
In my experience; discover will hold it against you in their internal scoring system; causing your limit not to be increased over time. I have called in and requested a CLI before; only to be declined because I had gone over my limit within the last 12 months. At that time discover was my only card and it had a 3500 limit. I recommend that you call and ask for a modest increase to 1200 so that you can safely make this charge without exceeding your credit limit.

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Good info did not know that. I would think going over and PIF quickly would let them know "Hey, this cardholder needs a higher limit".