Is it permissible to supplicate with "O Allah, I ask You by Your mercy which encompasses all things"?

This supplication is part of the fasting person's iftar supplication, and its wording is: "O Allah, I ask You by Your mercy, which encompasses all things, to forgive me." It was narrated by Ibn Majah and graded as hasan by Ibn Hajar. This supplication is permissible and encouraged due to its inclusion of invoking Allah the Almighty by one of His attributes.