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WF Can you prepay in advance to free up credit on pending charges?

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WF Can you prepay in advance to free up credit on pending charges?

So I have a small limit on my WF cash wise card and just purchased a piece of furniture that wont ship for two weeks. As a result it's been placed on a hold until they do ship it. I almost wish they'd charge me now so i could pay it. Sadly, Due to my limit it has left me with not much credit left that I need to use to make other purchases. 

 

I have cash on hand 100% to fully cover it so debt isn't the issue here at all. I did ask WF for a credit limit increase and they said no awhile ago. I figure if I ask again now it will be no as well. 

 

Can you pre-pay a credit in advance for pending charges to free up credit or no? 



Currently planning gardening until December 2021 when all HPs drop. Perhaps a bit extreme but want more history before applying again.
Message 1 of 29
28 REPLIES 28
Established Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?

I have a 1,648 balance on my Propel card. I tried a 4,000 payment. Message came up stating that I cannot make a payment that's larger than my outstanding balance. So, probably not.

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 2 of 29
Community Leader
Super Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?

Will WF allow a payment pushed from the your bank to the credit card to cover the purchase?

Message 3 of 29
Super Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?


@credit-user-19 wrote:

So I have a small limit on my WF cash wise card and just purchased a piece of furniture that wont ship for two weeks. As a result it's been placed on a hold until they do ship it. I almost wish they'd charge me now so i could pay it. Sadly, Due to my limit it has left me with not much credit left that I need to use to make other purchases. 

 

I have cash on hand 100% to fully cover it so debt isn't the issue here at all. I did ask WF for a credit limit increase and they said no awhile ago. I figure if I ask again now it will be no as well. 

 

Can you pre-pay a credit in advance for pending charges to free up credit or no? 


@credit-user-19, been with Wells Fargo for years. They have never allowed Me that privilege.

 

Message 4 of 29
Established Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?


@simplynoir wrote:

Will WF allow a payment pushed from the your bank to the credit card to cover the purchase?


That would be an interesting experiment. I wouldn't like having a payment rejection being logged on my account though.

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 5 of 29
Moderator

Re: WF Can you prepay in advance to free up credit on pending charges?


@simplynoir wrote:

Will WF allow a payment pushed from your bank to the credit card to cover the purchase?


I've pushed external payments to WF before without issues so that might work.  If there's no balance, then it would just be in the negative,  I'm just not sure once the payments posts to the OP's CC whether that would allow any additional charges due to the pending transaction and the current CL.

Message 6 of 29
Community Leader
Super Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?


@FinStar wrote:

@simplynoir wrote:

Will WF allow a payment pushed from your bank to the credit card to cover the purchase?


I've pushed external payments to WF before without issues so that might work.  If there's no balance, then it would just be in the negative,  I'm just not sure once the payments posts to the OP's CC whether that would allow any additional charges due to the pending transaction and the current CL.


If that's the case then OP I would contact WF to explore your options to see if the above is viable or maybe if they can allow the purchase beyond your credit limit

Message 7 of 29
Community Leader
Mega Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?

Last person who attempted this approach got their card restricted.
It wasnt WF, but the sentiment behind is the same. If you push payment from your bank, you will end up with credit, but in most cases charges over the limit will not go through.
If you make charges under your limit, they will deduct from available over the limit balance.
If it goes unused for a period of time, they will mail you a check.
Other person also had a low limit, which is usually indicative of some concern on lender's end, such as income, short credit history and/or negatives.
I would not do this.
Message 8 of 29
Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?

Overall, Seems like a bad idea.  I'll just have to try and make due and make a bunch of smaller payments and pay things off as soon as they post to keep as much credit as possible available. Their app is alreay saying I may not have enough credit to cover my normal expenses lol.

 

I haven't had much success with new credit so I guess i just have make do for now. Maybe they'll offer me more down the road... 



Currently planning gardening until December 2021 when all HPs drop. Perhaps a bit extreme but want more history before applying again.
Message 9 of 29
Established Contributor

Re: WF Can you prepay in advance to free up credit on pending charges?


@credit-user-19 wrote:

Overall, Seems like a bad idea.  I'll just have to try and make due and make a bunch of smaller payments and pay things off as soon as they post to keep as much credit as possible available. Their app is alreay saying I may not have enough credit to cover my normal expenses lol.

 

I haven't had much success with new credit so I guess i just have make do for now. Maybe they'll offer me more down the road... 


Yeah, its not worth pushing the envelope, when you know by trying it through the WF website that they don't allow it. Trying to get around that by pushing payments, especially if you succeed and keep doing it, will bring attention to your account.

 

By experience, other than typing an incorrect account # or routing #, I've had mini AA on my account when providing a VALID account and using it to move money/pay when it really isn't permitted. I had a MM acount that allows only 2 outside accounts to access it. I kept forgetting that situation, and I tried to move money from it to my brokerage account. It failed, and my broker permanently locked the external account. No biggie, I can't use it there anyway. I had it happen with another account, where I got a letter in the mail from the bank of the failed transfer. They don't like failures, maybe because they have to monitor my transfers afterward.

 

I closed that account (for this reason) and moved my money to Barclays. And for a final time, I AGAIN forgot and tried to move the remaining balance to Barclays. It failed. Forunately, no slaps on the hand. 

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 10 of 29
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