Can i use ach credit that is pending if its in my available balance at chase?

I received a direct deposit from my school this morning at 2 am. My bank is chase and in my available and present balance it says i have the money but in my transactions it says that it is pending. is that just because it hasnt updated yet? i need to buy something important now and i dont know if i can use it without getting charged an overdraft fee|||If the amount is less than $5K, it should be available immediately and should be not be in pending state anymore by end of day - if you can wait until then, it's better to do so. If not you are OK to go ahead and make that purchase. However, if you need an answer for sure - you can always call your chase bank and talk to a customer representative and they can help you out in minutes.