Lisa asked:
I want to pay my credit card bill off before the due date but my bank account only has $50.00 available balance. My ledger balance is $500.00 but it is currently on hold because I just opened up a new bank account and it takes up to 7 days to verify that my payroll check is legit. Can I still pay my credit card bill even though I only have $50.00 available? I have $500.00 but again, it’s on hold. I don’t want my credit card bill to show as late or unsuccessful payment but I don’t want to past my due date.
I want to pay my credit card bill off before the due date but my bank account only has $50.00 available balance. My ledger balance is $500.00 but it is currently on hold because I just opened up a new bank account and it takes up to 7 days to verify that my payroll check is legit. Can I still pay my credit card bill even though I only have $50.00 available? I have $500.00 but again, it’s on hold. I don’t want my credit card bill to show as late or unsuccessful payment but I don’t want to past my due date.
#1 by dinesh j - December 22nd, 2009 at 14:12
ya you should pay
#2 by addie h - December 23rd, 2009 at 19:55
Be carefull you don’t want to overdraw your account. Can you pay only what you have to and then once the check is off hold pay the remainder. If you over draw it’s usually 30-35.00.
It would have been better to cash your check and then open a new account that way there would be no hold.
#3 by yerffejpalm - December 24th, 2009 at 21:54
In credit score terms, your credit card isn’t late until it’s over 30 days late. You will still have a late payment, but it won’t show up as late on your credit report.
But my advice would be to call the credit card company, explain the situation, and ask them for five extra days grace period. 99.99% of the time they will give it to you. Knowing you are paying your bill is more important to them than collecting a $30 “late fee.”
#4 by das_coon - December 25th, 2009 at 07:16
Paying the credit card is likely your best bet. The fee charged by the credit card company for late payment will likely be similar to what the bank charges for insufficient funds, and the credit card company will have a second fee for the returned check.
Late payment on the credit card may trigger a penalty re-pricing, causing the interest rate you pay to increase drastically.
Just make sure that you can do one or the other, don’t try to do one with so little time that you end up getting a fee from both. The late payment will not be reflected in your credit score, and early prompt calls to either institution will likely reduce, or totally eliminate the fee you will need to pay. The bank just got your business they want to keep it, the credit card company also wants to continue keeping you as a customer.
#5 by salahco505 - December 28th, 2009 at 18:40
you can use
#6 by amaya7 - December 28th, 2009 at 22:09
Only if you are paying via electronic check. A debit/credit card payment will not be approved.