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I haven't been able to find this answered directly, but how much does Navy Federal and Chase allow one to pay above their current balances?
PSA: apologies but moderators could you please correct title of thread to say - "...allow you to pay..." thanks
Don't know about navy, but Chase doesn't allow you to pay anything over the balance unless you push the payment from your FI.
Are you trying to cover pending charge or something else?
I am one of those "pay before it hits" people and both NFCU, Chase and Wells Fargo permit this.
With a ZERO Balance and a pending charge...say for $20, I can go in to each of their websites and choose the "other amount" category for payment with all 3 banks and then pay what I'd like. Admittedly, I have not paid more than the pending charge...so I wouldn't have paid $30 knowing a $20 charge is pending...but it's worth a try.
The payment will post to your account the day of the payment...let's say today...but the pending charge while perhaps dated today may not post for 2 or 3 days so tomorrow morning when I log in...my account will show a CREDIT balance but it may not reflect in the Available Credit since the pending charge is still pending.
I do this a lot just to cover my bases and I've never had an issue. It warns you that it won't give you increased credit but it takes the payment, no problems...
I'm not sure how much; but I just accidentally did just that. I put $10k - $15k a month on my credit cards for travel. So I pay them off every week, if not 2-3 times a week. I want to make sure they never report a balance for utilization. I noticed my Chase FU had a -$578 balance. I accidentally paid the current balance twice. So, as I charge it will bring my balance back to zero and then start to show a balance again.
I once had a customer tell me he accidentally paid $19,000 instead of $1,900 on his credit card. I don't remember what bank it was, but he said he had like $17,000 additional credit on top of his CL.
With Chase, having a pending charge makes a difference. I tried overpaying in anticipation of a purchase, and it wouldn't let me until after the swipe.
@Remedios wrote:Don't know about navy, but Chase doesn't allow you to pay anything over the balance unless you push the payment from your FI.
Are you trying to cover pending charge or something else?
Yes because I wasn't to pay balance to zero on my csr but since it's my main driver, there's always something pending on it. Therefore, I was thinking I could pay more than the current balance. I've read here that citi allows you to pay 7.5 or 7.6% above the balance and thought chase might also.
Thanks for all the feedback! What I also noticed is that if there are pending balances that have not posted prior to the statement closing date, then only the interest, if any, will on be reported as the balance. Let me know if I'm off on this.
@QueenJ wrote:Thanks for all the feedback! What I also noticed is that if there are pending balances that have not posted prior to the statement closing date, then only the interest, if any, will on be reported as the balance. Let me know if I'm off on this.
You are right about that.
If those pending charges were not completed by the time statement cut, they will be reflected on your next statement.
However, if you are paying interest on the previous month's charges, you do not have a grace period so any charge you make starts accruing interest from the day it posts.
@QueenJ wrote:
@Remedios wrote:Don't know about navy, but Chase doesn't allow you to pay anything over the balance unless you push the payment from your FI.
Are you trying to cover pending charge or something else?
Yes because I wasn't to pay balance to zero on my csr but since it's my main driver, there's always something pending on it. Therefore, I was thinking I could pay more than the current balance. I've read here that citi allows you to pay 7.5 or 7.6% above the balance and thought chase might also.
You can always push a payment from your FI if you need to.
Also if you have a tiny amount that you don't want to be reporting, Chase will re-report whenever the balance is brought down to $0.00.
Long time ago, I used Freedom for western union thinking it was my debit card. Even though the amount was in pending charges I could not pay it from "Pay card" interface.
Pushing it from checking worked.