Question about over the limit

[Anonymous]

My cap one card has 1100 limit. My Balance is 850 with things still pending but my available credit is 0. I know i hit my limit it over.

Question is if i pay tonight before the pending items show in Balance an i technically still "over my limit", statement doesn't cut till the 19th and will be paid in full.

[OmarGB9]

Yes if you charge beyond your limit it will be seen as such until you pay the balance you went over down, regardless of statement cut.

[Anonymous]

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@OmarGB9 wrote:
Yes if you charge beyond your limit it will be seen as such until you pay the balance you went over down, regardless of statement cut.

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So even though I'm not "tecnically" over the limit yet because my balance is 850 and my CL is 1100 I'll still be charged if I make the payment tonight before the pending things post?

[OmarGB9]

Charged for what? Does you card charge an over the limit fee? If so then I would definitely make a large payment to ensure I don't go over limit and get slapped with that fee.

[Anonymous]

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@OmarGB9 wrote:
Charged for what? Does you card charge an over the limit fee? If so then I would definitely make a large payment to ensure I don't go over limit and get slapped with that fee.

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Since the CARD Act, is is VERY unusual for a card to have an over-the-limit fee, you need to opt-in.    If the charges have already been approved, you are OK and I wouldn't worry. 

If you have somehow opted in, then I don't know how pending charges impact that.   While pending charges reduce available credit, I doubt if they really could trigger an over the limit situation till they post.

[Anonymous]

I remember that when my mother got her C1 card two months ago, that they allowed her to go over the limit with a fee, and if she didn't want to go over the limit, she could opt-out, but could not opt-in again--it was a permanent opt-out. I remember finding this on her account online.

[Anonymous]

Basically I did it by accident last night, but I still have 7 pending transactions with a payment going through tonight.

Balance: 825.49

Available credit: 0.00

Credit limit: 1,100

So I guess i'm just curious if it's not considered "over the limit" if your balance isn't over your credit limit because of the pending transactions.

[Anonymous]

Pay down to below your limit before statement cut, though ideally within the next few days, there's little to worry about. Don't sweat it.

High balance on your credit reports may show higher than your current limit, but generally doesn't seem to matter. Cap 1 wouldn't have approved those charges, if they felt you were too much of a credit risk. It's possible, especially if you make a decent size payment, Cap 1 will boost your limit sooner than later.

[Anonymous]

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@Anonymous wrote:

Pay down to below your limit before statement cut, though ideally within the next few days, there's little to worry about. Don't sweat it.

High balance on your credit reports may show higher than your current limit, but generally doesn't seem to matter. Cap 1 wouldn't have approved those charges, if they felt you were too much of a credit risk. It's possible, especially if you make a decent size payment, Cap 1 will boost your limit sooner than later.

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Just happened last night and I have a payment going through tonight. 

Sorry for all the confusion, just don't want cap seeing a risk if I went over and was hoping they wouldnt "see" or "know" if I paid before it showed LOL.

[Anonymous]

I would probably pay a portion off just to be sure. 

Available credit takes pending transactions into account for most cards.