cancel
Showing results for 
Search instead for 
Did you mean: 

Over Credit Limit

CivalV
Established Contributor

Over Credit Limit

So I have been making a bunch of large payments on my cap one QS for the last 3 weeks. I rented a vehicle for 14 days and now I am being charged for the toll fees of $220. My cap one account was already maxed out at $2730. The CL is $2750.

I am confused because 2 days ago the automatic charge from the rental company was denied since I didnt have enough credit to cover it. But today it was charged to my card.. so the account is reflecting a $2950 balance with $5.00 of credit still available! Whoa

Whats going to happen? I will push another payment through to cover the toll charges and some but has this happened to anyone else? I have never went over my credit limit like this and I am actually nervous this could ruin me lol
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 1 of 19
18 REPLIES 18
BrutalBodyShots
Super Contributor

Re: Over Credit Limit

Are you able to pay the card down now or very soon?  If so, it may be worth a call to CO just to let them know of your intentions, as hanging out over your limit is a sign of elevated risk and you could open yourself up to being balance-chased as you pay the card down.  A little "heads up" to CO really can't hurt, IMO. 

Message 2 of 19
CivalV
Established Contributor

Re: Over Credit Limit

Thank you! Yes I am going to pay it down either tonight or tomorrow. I definitely dont want to be balance chased 😩


Is it normal for cap one to allow charges over the limit like this? It still shows I have $5 available credit which is what I find odd
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 3 of 19
M_Smart007
Epic Contributor

Re: Over Credit Limit


@CivalV wrote:
So I have been making a bunch of large payments on my cap one QS for the last 3 weeks. I rented a vehicle for 14 days and now I am being charged for the toll fees of $220. My cap one account was already maxed out at $2730. The CL is $2750.

I am confused because 2 days ago the automatic charge from the rental company was denied since I didnt have enough credit to cover it. But today it was charged to my card.. so the account is reflecting a $2950 balance with $5.00 of credit still available! Whoa

Whats going to happen? I will push another payment through to cover the toll charges and some but has this happened to anyone else? I have never went over my credit limit like this and I am actually nervous this could ruin me lol

I second @BrutalBodyShots , would definitely Call ASAP and Explain!!!

Message 4 of 19
CivalV
Established Contributor

Re: Over Credit Limit

I can call now? What if i just pay now? Should I still call after?
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 5 of 19
M_Smart007
Epic Contributor

Re: Over Credit Limit


@CivalV wrote:
I can call now? What if i just pay now? Should I still call after?

Call Now, It may not be as bad as you think.? The CSR might be able to Help?

and Yes I would pay asap.

 

Message 6 of 19
NRB525
Super Contributor

Re: Over Credit Limit

Did they auto-increase your credit limit?
Pay, yes, but check on your account also to see what the limit is. CapOne may have allowed for the charge to go through. Banks can do that for good customers.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 7 of 19
HeavenOhio
Community Leader
Senior Contributor

Re: Over Credit Limit

Your numbers have me a little confused, i.e. a limit of $2750, a balance of $2950, and $5 still available.

 

But the bottom line is that you're going to be fine. If you're actually over the limit, the worst I see happening is becoming ineligible for CLIs for a while (twelve months I think).

Message 8 of 19
CivalV
Established Contributor

Re: Over Credit Limit

That is what I am confused about as well. Having $5 available credit but my CL is $2750 while my balance is $2950. Wouldn’t my credit reflect $0 if I went over limit!
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 9 of 19
BrutalBodyShots
Super Contributor

Re: Over Credit Limit

You would think.

 

When was the last time you requested/received a CLI on the account?

 

I could call them and let them know that you just paid it off, then after your statement cuts with the paid off balance request a CLI.  If you get one it could give you better future breathing room on the account.

Message 10 of 19
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.