Please help needed with credit cards

davidjames001

Hi people
I have recently got a capital one credit card with a limit of 200
and a vanquis with a limit of 800
can i add more money then my credit limit
for example on capital one its 200 can i add 1000 and if i can can i shop with the money

are alll credit cards like that or credit cards dont allow to pay over the given limit

please do help me out
Thanks

dgtazzman

Vanquis and Capital One won't allow it, you'd have to get a prepaid topup credit card for that, which is a totally different product...

davidjames001

i heard from a friend that he has done it numerous times

so with all creditcards it cant be topped up over the limit?
i remember barclaycard i topped up over the limit before

dgtazzman

Other posts on here comfirm what I said. They will only allow you to pay 'up to your limit' and will not allow you to overpay to create more spending room. I think I even saw a post not so long that indicated they got charged for doing so...

Might depend on exactly which card you have with them though.

jen245

Some cc providers will block your account if you pay it into credit, as its against the terms and conditions, which you sign up to when you apply for the card.

kerri_gt

why are you wanting to add more money than your limit? Is it for a specifc purchase?

davidjames001

its to purchase a car
im waiting for my new debit card to arrive still aint arrived so im thinking to load money into my creditcard
but i heard i cant spend over my limit

is that true?
if so its not worth it

hayton2k3

davidjames001 wrote: »

its to purchase a car
im waiting for my new debit card to arrive still aint arrived so im thinking to load money into my creditcard
but i heard i cant spend over my limit

is that true?
if so its not worth it

Why not use cash?

bouncydog1

Some car dealers will also charge you a % for using a credit card to pay. Much better to be in a position with cash to negotiate a good deal or go elsewhere. You might not get a discount but you might get some additional extras thrown in - much better than paying top whack plus 2% charge for using your cc.

KingElvis

I would be careful in running that Vanqp*ss card up to £800 for a banger, you'll be in a very dark place if you do.

sharpy2010

Lets assume that you have a £200 limit on your credit card (for examples sake). Then lets assume you add £5000 to your card (again, just for examples sake).

You now have, in theory, £5200 available to you.

But the potential problems are as follows -:

1) Its against the terms and conditions of the credit card, and thus they will block the money from being used, until they can ascertain that it isn't some form of money laundering.

2) Even assuming that the credit card company didn't block the money, you would still only be allowed to spend up to your limit, per day. Thus, on the card in the example, it would take 26 days to spend all the money on it. i.e. 26x£200. You certainly couldn't put through a product for £5200 in one go, as it would be declined.

A pre-pay card is what you need, something like Cashplus would be ideal.