Credit Balance On A Card?

davids27

I am fairly new to credit cards. I have recently taken out my first card with my current bank HSBC. On the card i have a £2000 limit. This is as high as i can get it. In the next month i may need to make a purchase that could come to around £2300. This may not be the exact figure as i am hoping to get it for less. Is it possible with a card to make an automated bill payment for example £500 (to be on safe side) and get a temp limit of £2500?? Finally if it was not needed are you able to get your money back into your bank account or do you have to spend on the card?

YorkshireBoy

From the HSBC credit card T&C's...

5 Repayments
e You should not make payments that place the Account in credit. If you do, we may still restrict the use of the Card and the Account to the amount of your credit limit.

Always read the small print.

Systemaddict_2

Be very careful.

Credit card co do not authorise single transaction which takes you over the set credit limit (even if you are in credit ).They may refuse or impose penalty charges.

Why not phone the credit card co and tell them that you want to make a purchase which will take you over the credit limit but your credit card a/c will be in credit (i.e. the net result will be that that you will stay within your credit limit) and ask them if they would authorise such a transction (and to note that authorisation on your account).

Alternatively, it may be possible to put your card in credit and make payment in two transctions separated by a day or two.

angelica

Is it absolutely necessary to pay the whole amount by a single transaction by credit card? If you have money to put your card in credit, can you just pay £2000 by card and the rest by cash to avoid the problem all together?