I’m confused about my credit card balance/payment amounts.
This is a Capital One Savor Card
My credit limit is $4,000 and my available credit is currently $3,287.95, which means $712.05 of my credit is being used and obviously my posted balance is less because I have pending charges. But if I add my pending charges up to my posted balance I do get $712.05.
What confuses me is the payment screen is letting me make a payment of $727.30, which is higher than both the current balance and the amount being deducted from my available credit.
The available credit updates instantly whenever I use the card, so I don’t understand how I could owe more than what’s actually being taken from my credit limit. Do credit card companies allow slight overpayments?
FYI if I sound dumb this is my first ever credit card, I don’t really understand much about them.