Originally Posted by Happy:19821776
Originally Posted by
StartinSanDiego
I find that when I really rack up the charges on any given card, they usually respond by increasing my credit line. Of course I pay in full at the end of the month, and often, now that I'm a points and miles freak, I pay mid-month to keep the utilization down.
HOWEVER-- here's a data point on my new Barclay's card... this was my first billing cycle with the card. I paid in full before the due date but after the statement closed, and they still auto-deducted the full amount of the statement. So I double paid and have a negative balance on the card right now. I called CS yesterday and (foreign based rep) said the computer will not recognize the earlier payment and reset my amount due to zero. HUH???? I'm glad it was just a piddly amount.
If you set your account to auto-pay, it will still execute regardless what your balance may be after the statement close date. This is how banks work - the software is not designed to check actual balance by due date then to process the auto-pay payment. Citi would run the auto-pay thru even if your current balance has dropped down to 0 or negative but it would still process the auto-pay with the balance at statement close date. The overpayment would rectify itself automatically by the 2nd billing cycle - either you have put charges on the card, therefore used up the credit balance, or you have a credit balance, therefore no payment due.
On the other hand, if your payment is manually entered, scheduled by yourself - then some banks' software would compare the outstanding balance at payment date and the scheduled payment amount - if the outstanding balance is lower than the scheduled payment it would adjust the payment to the outstanding balance Both AMEX and Chase do it this way on MANUALLY scheduled payments by you. AMEX would even send you an email to inform you such.
Citi as of a month or two ago adjusts the auto pay for any payment you may have made. Chase goes a bit further in that any credit against the account is deducted from your auto pay. So if you purchase an item and return it, if the amount is greater than the due statement balance, they will not deduct a payment and your account will be current for that month. However, your next statement will show a "higher" balance.