Just want to know.....

[Anonymous]

I have an Orchard Bank credit card with an credit limit of 300 dollars.  I am over the limit by $1.02.  For an total due of $301.00.  Payment is not due until May 31st, my question is if i want to see an increase in my score how much should I pay before May 31st.  I do know if I leave an balance of 10% that my score increases but I wont be able to do that.  I wanted to make an payment on May 23rd of $150 dollars and then pay the remaining balance on May 30th leaving an balance of $10 dollars on the card so I would pay 140 dollars. 

Would my score increase by the payment of $150  on May 23rd or will it increase by the payment on May 30th of $140.  When I pay it on the 30th of May I will do an rush payment that allows it to be posted the same day.  Will I be safe from the credit card company reporting on my credit card im over the limit. 

I have tried asking them when they post to the 3 credit bureaus but all I got was 30 days form the billing cycle?  Does this make sense?

This is my first time being over the limit so Im sort of nervous

Thanks

Strong

[Anonymous]

If your statement has already generated the over limit amount it doesn't matter how you break up the payment.

CC's don't report every payment they just report payments every 30 days or statement date or however that particular CC does it.

You have already lost the points for going over your limit, it doesn't matter how you pay it off....the total sum of the payments will hit your credit report at the same time.

[aftermath]

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@Anonymous wrote:

I have an Orchard Bank credit card with an credit limit of 300 dollars. I am over the limit by $1.02. For an total due of $301.00. Payment is not due until May 31st, my question is if i want to see an increase in my score how much should I pay before May 31st. I do know if I leave an balance of 10% that my score increases but I wont be able to do that. I wanted to make an payment on May 23rd of $150 dollars and then pay the remaining balance on May 30th leaving an balance of $10 dollars on the card so I would pay 140 dollars.

Would my score increase by the payment of $150 on May 23rd or will it increase by the payment on May 30th of $140. When I pay it on the 30th of May I will do an rush payment that allows it to be posted the same day. Will I be safe from the credit card company reporting on my credit card im over the limit.

I have tried asking them when they post to the 3 credit bureaus but all I got was 30 days form the billing cycle? Does this make sense?

This is my first time being over the limit so Im sort of nervous

Thanks

Strong

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Does your statement show up as $301? If it does, then it's too late. Orchard has already posted that balance to the CRA. I know, i've dealt with Orchard in the past when I was going through the credit rebuilding stage.

[Anonymous]

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@aftermath wrote:

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@Anonymous wrote:

I have an Orchard Bank credit card with an credit limit of 300 dollars. I am over the limit by $1.02. For an total due of $301.00. Payment is not due until May 31st, my question is if i want to see an increase in my score how much should I pay before May 31st. I do know if I leave an balance of 10% that my score increases but I wont be able to do that. I wanted to make an payment on May 23rd of $150 dollars and then pay the remaining balance on May 30th leaving an balance of $10 dollars on the card so I would pay 140 dollars.

Would my score increase by the payment of $150 on May 23rd or will it increase by the payment on May 30th of $140. When I pay it on the 30th of May I will do an rush payment that allows it to be posted the same day. Will I be safe from the credit card company reporting on my credit card im over the limit.

I have tried asking them when they post to the 3 credit bureaus but all I got was 30 days form the billing cycle? Does this make sense?

This is my first time being over the limit so Im sort of nervous

Thanks

Strong

---

Does your statement show up as $301? If it does, then it's too late. Orchard has already posted that balance to the CRA. I know, i've dealt with Orchard in the past when I was going through the credit rebuilding stage.

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So you guys are saying that I wont get any extra points no matter how much I pay on my credit card because I have already went over the limit.  Is that correct?

Strong

[Anonymous]

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@Anonymous wrote:

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@aftermath wrote:

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@Anonymous wrote:

I have an Orchard Bank credit card with an credit limit of 300 dollars. I am over the limit by $1.02. For an total due of $301.00. Payment is not due until May 31st, my question is if i want to see an increase in my score how much should I pay before May 31st. I do know if I leave an balance of 10% that my score increases but I wont be able to do that. I wanted to make an payment on May 23rd of $150 dollars and then pay the remaining balance on May 30th leaving an balance of $10 dollars on the card so I would pay 140 dollars.

Would my score increase by the payment of $150 on May 23rd or will it increase by the payment on May 30th of $140. When I pay it on the 30th of May I will do an rush payment that allows it to be posted the same day. Will I be safe from the credit card company reporting on my credit card im over the limit.

I have tried asking them when they post to the 3 credit bureaus but all I got was 30 days form the billing cycle? Does this make sense?

This is my first time being over the limit so Im sort of nervous

Thanks

Strong

---

Does your statement show up as $301? If it does, then it's too late. Orchard has already posted that balance to the CRA. I know, i've dealt with Orchard in the past when I was going through the credit rebuilding stage.

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So you guys are saying that I wont get any extra points no matter how much I pay on my credit card because I have already went over the limit.  Is that correct?

Strong

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If that is true that really sucks. This will not happen again.

Strong

[marty56]

If you pay down before the statement drops, it will report the total balance not the high balance.  If it reports as 301 and you pay more after the statement drops, the balance will be reflected on the next statement and your util will be the way you want it.  So if your score drops, it will be back up next month or the month after.

Keep in mind if you make extra payments before next months statement drop, some CCCs call it a double payment for last month and it wont count for next month.  You would still have to make the minimum payment for next month which would be based on the new, lower balance.  I got burned this way once by HSBC.