Can't raise my spending limit to get max points on Tesco card

Mrs_Simpkin

I am having a new condensing central heating boiler and cavity wall insulation (yes, got all the offers and grants) and will be paying out £5,500. I have a Tesco credit card (old style) and thought I could get points by paying with this. However, my credit limit was £2,250 - I phoned up and they would only raise it to £3,250.

I don't like to miss out on a further £2,250 worth of points! Is it possible to pay £2,250 into my credit card account before I pay the bill? Would that take my credit limit to £5,500?

I have to move the money from my savings account anyway so putting the whole lot in the credit card account wouldn't be ln problem.

I would be grateful for any information.

stebiz

Mrs_Simpkin wrote: »

I am having a new condensing central heating boiler and cavity wall insulation (yes, got all the offers and grants) and will be paying out £5,500. I have a Tesco credit card (old style) and thought I could get points by paying with this. However, my credit limit was £2,250 - I phoned up and they would only raise it to £3,250.

I don't like to miss out on a further £2,250 worth of points! Is it possible to pay £2,250 into my credit card account before I pay the bill? Would that take my credit limit to £5,500?

I have to move the money from my savings account anyway so putting the whole lot in the credit card account wouldn't be ln problem.

I would be grateful for any information.

Paying £2,250 into your credit card would put you in credit and allow you to make the purchase.

Stebiz

YorkshireBoy

Some card providers limit the max purchase on a single transaction to that of your credit limit.

Some providers prohibit the creation of (large) positive balances, and return the money from whence it came.

Some providers will block the card if an unusually large credit appears, until they have completed their anti-money laundering enquiries.

Some providers limit the amount of cashback/reward points that can be earned in a statement period to that determined by your credit limit.

It's a bit of a gamble isn't it?

Can you not pay for the goods/services in two transactions, ideally spread over two statement periods? Perhaps just either side of your statement date with a payment inbetween?

Mrs_Simpkin

Thanks for your advice.

I thought about paying in two lumps, but the whole bill is payable upon completion of the work. Perhaps I should try moving the money and see what happens!

YorkshireBoy

Mrs_Simpkin wrote: »

Perhaps I should try moving the money and see what happens!

I don't want to appear alarmist, but if they do block your account do you have other means to pay the bill when it comes in?

Mrs_Simpkin

Yes, that is scary. I might tie up the money and not be able to pay the bill with my Debit Card! I don't have enough in my Savings Account to pay out twice and wait until things are sorted out - I wish!!!

YorkshireBoy

Alx_B wrote: »

...you could always phone Tesco CC and see if they allow it? Obviously don't mention that you want to do it for the points though

Even if the CSA says you can, you may come unstuck. Check out this (similar circumstance) horror story from last year...

http://forums.moneysavingexpert.com/showthread.html?t=528883

Mrs_Simpkin

Thanks YorkshireBoy.
This has certainly helped me to make up my mind. I think I will just pay up to my credit limit and the rest with my Debit card! So annoying to think of all those points...