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Well, I screwed up (I think)

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    Well, I screwed up (I think)

    My wife and I are planning a European and Icelandic vacation this summer and on Sunday I purchased airfare and hotel accomodations on my CapOne Quicksilver card as I don't have any "Travel" cards. Cutting to the chase, before the purchases my Quicksilver card had a $0.00 balance, after the second purchase I got a notification from CapOne the charge had been approved but I was over the limit on the card; albeit only by $10.13. I immediately scheduled a "push" payment from my bank to pay the card off in full, which should hit today; so basically my card will have gone from zero to over the limit and back to zero in a span of 72 hours.

    I have no experience with over the limit balances and very little experience with CapOne; will my excursion into over limit territory hurt my chances of a CLI? I've been planning on asking one just prior to embarking on our vacation in August given my Quicksilver card is one of my two cards which don't charge foreign transaction fees.
    Latent car nut.

    #2
    I don't know. Generally speaking, being over the limit is a default unless the card provides for over-the-limit purchases such as with a "flexible spending card" such as the VISA Signature. CapOne is a strange bird anyhow. Whenever I want a CLI they say "payments too low" but I've maintained a $0 balance!
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      Thanks for the response; this is going to get interesting as I just got alerted to my monthly Netflix payment being approved, this in turn means I'm now $30.12 over my limit until later today when they post my payment, after which I should have a balance of $19.99.

      I'll keep y'all updated as to whether I get dinged with a penalty charge, an Adverse Action (like a credit limit decline), or if they say, "The excess charges were paid in full, so no harm, no foul."
      Latent car nut.

      Comment


        #4
        Hi shipo .. I think you should reach out to capital One, and explain that you would like to request a credit line increase. They normally have that option online, where you can state the reason, and in your case, of course, would be that you have large expenditures coming up related to a trip. I think the fact that they are honoring the charges, and sending you notice, as opposed to declining the charges because you’re over the limit, is a good sign. I don’t think I’d worry about it (unless they charge you for going overlimit) because you have a good credit standing with them, and this one time purchase shows that the limit wasn’t high enough. Good luck… Sounds like a fabulous trip you’re planning!
        Filed Chapter 13 - 07/20/12
        Discharged 8/2/16

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