Which cards allow pre-paying?

[mguy]

I know that Chase does not allow pre-paying an account in order to charge large purchases that exceed the credit limit. Amex and Citi do allow it.

What about other cards? Anyone know if these players allow it: BOA, Barclays, US Bank, First National Bank of Omaha?

Thanks!

[Side incomer]

I know that Chase does not allow pre-paying an account in order to charge large purchases that exceed the credit limit. Amex and Citi do allow it.

What about other cards? Anyone know if these players allow it: BOA, Barclays, US Bank, First National Bank of Omaha?

Thanks!

Citi won't allow you online to pay more than 7.5% of the amount you owe. In the branch they will accept it.

[Saver2000]

I don't understand,  how does chase not allow it? If I walk into a chase branch, they still won't take the payment?

[sky121]

I don't understand,  how does chase not allow it? If I walk into a chase branch, they still won't take the payment?

If you do it that way then yes, it works.

Sent from my MB855 using Tapatalk

[mguy]

I don't understand,  how does chase not allow it? If I walk into a chase branch, they still won't take the payment?

With Citi and Amex it's officially allowed. Even if the online payment system doesn't accept it there's an account to which you can wire the money (that's the way I've done it, but presumably can mail it as well).

With Chase they tell you it's not allowed. But good point about paying at a branch or mailing it. Maybe it'll work anyway.

In any case, if anyone happens to know of other cards that officially allow it, please let me know.

[AsherO]

With Citi and Amex it's officially allowed. Even if the online payment system doesn't accept it there's an account to which you can wire the money (that's the way I've done it, but presumably can mail it as well).

With Chase they tell you it's not allowed. But good point about paying at a branch or mailing it. Maybe it'll work anyway.

In any case, if anyone happens to know of other cards that officially allow it, please let me know.

FYI, with Amex it's an FR trigger.

AFAIK any CC issuer you prepay by mail will cash your check and you'll have a credit balance.

[JOLLYJ]

if you have a chase checking and credit card, and you signed up for access online, here is how you can do it.

1) sign in
2) go to transfer
3) transfer from your checking to credit card

i have overpaid in the past, not by a crazy amount, but i never had a problem doing it this way.

hope this helps

[HelpMe]

I am not sure where everyone is getting there info. I will make this real simple. I have never had a problem prepaying as long as the payment was pushed to the card you were paying. This is for Citi, Chase, Amex and BOA. The problem is if when you prepay will this increase your available credit.

[Saver2000]

I am not sure where everyone is getting there info. I will make this real simple. I have never had a problem prepaying as long as the payment was pushed to the card you were paying. This is for Citi, Chase, Amex and BOA. The problem is if when you prepay will this increase your available credit.

Is that a question or a statement?

Do you know of any card that doesn't give you more available credit when prepaying?

[HelpMe]

Is that a question or a statement?

Do you know of any card that doesn't give you more available credit when prepaying?

I guess both.

With Amex I never needed extra credit so I would not know. Citi does increase your available credit limit and BOA does not. With Chase I am not sure if it increases you CL or the AARP just lets you go over your CL like a signature card.

[Name Changed]

if you have a chase checking and credit card, and you signed up for access online, here is how you can do it.

With Chase, I also have a checking account linked - but it DOES NOT work to overpay.

I do it often, so as soon as the pending charges fall off I have the avail balance - But chase counts what is pending and doesnt let you spend much over your limit.

The reason you prob were able to spend more on Chase - is they let you spend a few dollars over your balance (not too much)

Look Below

[HelpMe]

But chase counts what is pending and doesnt let you spend much over your limit.

What you should try is to increase how much you go over your CL each month. I am at about 50% over my CL for the AARP card.

[JOLLYJ]

With Chase, I also have a checking account linked - but it DOES NOT work to overpay.

I do it often, so as soon as the pending charges fall off I have the avail balance - But chase counts what is pending and doesnt let you spend much over your limit.

The reason you prob were able to spend more on Chase - is they let you spend a few dollars over your balance (not too much)

Look Below

just tried the transfer way. did not have any issue "over" transferring

[Saver2000]

With Chase, I also have a checking account linked - but it DOES NOT work to overpay.

I do it often, so as soon as the pending charges fall off I have the avail balance - But chase counts what is pending and doesnt let you spend much over your limit.

Do what often?

How do you have a negative balance if its not possible to prepay?

[HelpMe]

Do what often?

How do you have a negative balance if its not possible to prepay?

Overpay (prepay) and having it available to use are two different things.

[Saver2000]

I guess both.

With Amex I never needed extra credit so I would not know. Citi does increase your available credit limit and BOA does not. With Chase I am not sure if it increases you CL or the AARP just lets you go over your CL like a signature card.

Good info.  Thanx.

Wat does it mean that they don't increase my cl? If I have a $5k cl with citi and I make $1k payment amd then a purchase for $1k, I won't still have $5k available?

[HelpMe]

Good info.  Thanx.

Wat does it mean that they don't increase my cl? If I have a $5k cl with citi and I make $1k payment amd then a purchase for $1k, I won't still have $5k available?

Yes but that is not the only reason you prepay. If I have 5k line and prepay 5k I want to be able to purchase an item for 10k. It does not work that way for all the Major CC’s.

[mguy]

Overpay (prepay) and having it available to use are two different things.

I think I'm in complete agreement, but allow me to just confirm what you're saying...

What do you mean by "available to use"? Let's say you have a $5k credit limit, a $0 current balance and then you prepay $5k. My understanding/speculation is that at Chase, you can do two $5k transactions in rapid succession and they'll both go through (no worse than doing a $5k transaction, paying off the balance mid-month, then doing another). In this case it is "available to use".

But you can't do a single $10k transaction. In this manner, it's not "available to use" as if it were a credit limit increase.

And my experience with Amex and Citi is that you would be able to do the single $10k transaction.

[mguy]

I think I'm in complete agreement, but allow me to just confirm what you're saying...

Yes but that is not the only reason you prepay. If I have 5k line and prepay 5k I want to be able to purchase an item for 10k. It does not work that way for all the Major CC’s.

Okay, so while I was posting, you posted as well. And I see we're on the same page here. Thanks for the info.

[HelpMe]

What do you mean by "available to use"? Let's say you have a $5k credit limit, a $0 current balance and then you prepay $5k. My understanding/speculation is that at Chase, you can do two $5k transactions in rapid succession and they'll both go through (no worse than doing a $5k transaction, paying off the balance mid-month, then doing another). In this case it is "available to use".

IME this does not work with Chase. You have to wait for the first 5k to go from pending to posting (2-3 days) before you can do the second 5k transaction. Don't confuse this with Chase cards (example AARP) that let you go over the CL without prepay.