Bogdan Roberts, Credit Cards Moderator
@bogdan_roberts
No, you cannot overdraft your Capital One credit card. Overdrafts do not apply to credit cards. However, you may be able to go over the limit of a Capital One credit card, but it is up to the issuer whether any particular charge that exceeds your credit limit is approved. Credit card issuers generally use the term “over limit” when referring to spending more than your credit limit.
Capital One used to have a policy whereby people could opt in to exceed their credit limit. They were charged a fee for each over-limit purchase, which couldn’t exceed the amount by which they went over. This particular policy has since been terminated.
What to Know About Going Over Your Capital One Card Limit
- Capital One will assess transactions that put balances over the limit and approve or deny them on an individual basis.
- There is no fixed amount that you can go over your limit and each transaction is approved individually. So, there is no guarantee that you will always be approved to exceed your credit limit.
- Approval of transactions that put your balance over your credit limit is based on Capital One’s eligibility criteria which aren’t disclosed publicly. In some cases, Capital One may decline a transaction that causes you to go over your limit, due to factors such as late payments and having recently opened your account.
It is worth noting that Capital One no longer charges any fees for over-limit purchases. So, if you make a purchase that goes over and it happens to still get processed, you won’t be penalized.
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