In Credit on Credit Card?

xybadog

Hi

Can anyone please tell me can I go in credit on my credit card?

As an example if my credit card limit is e.g. £2000 and I wanted to make a purchase of £2500 using the card (because of the consumer credit protection as opposed to no protection on a debit card purchase), can I load the extra £500 onto my credit card? Never done this before so was just wonderign if it's possible.

Also, if it is possible to do this, will I get stung for purchase charges on the extra £500?

Thanks

lisyloo

It will be against the terms and conditions of your card.
Probably your payment will be returned.
If it did get there and your £500 was used fraudelently then you might find you aren't covered by the lender for fraud/theft.

Why not pay with 2 cards?

xybadog

Thanks for the reply

lisyloo wrote: »

Why not pay with 2 cards?

It would be an online transaction so not sure this is possible.

lisyloo

Have you asked your credit card company if they will increase your limit?

xybadog

lisyloo wrote: »

Have you asked your credit card company if they will increase your limit?

Not yet but that may be my only option.

Thanks for your help

lisyloo

Are they a company where you could also make a purchase by phone?

You could try it and see whether your payment gets returned.
You might get away with it.

There is a theoretical risk of theft/fraud but fora few days the chances are remote.

bigbloke45

xybadog wrote: »

Hi

Can anyone please tell me can I go in credit on my credit card?

As an example if my credit card limit is e.g. £2000 and I wanted to make a purchase of £2500 using the card (because of the consumer credit protection as opposed to no protection on a debit card purchase), can I load the extra £500 onto my credit card? Never done this before so was just wonderign if it's possible.

Also, if it is possible to do this, will I get stung for purchase charges on the extra £500?

Thanks

Some cards will allow it and others not; it depends upon their T&C's.

But you don't have to pay the full amount on one credit card to be covered by the section 75 legislation. If you pay part by credit card and the rest by another channel, you will still be covered. :cool:

lisyloo

Some cards will allow it and others not; it depends upon their T&C's.

Are you aware of any that do?
I'm asking as I'm not.
Egg money used to - they now turn a blind eye but technically it's not allowed.

If you pay part by credit card and the rest by another channel

This is correct, but if you are purchasing something on-line e.g. airline ticket, there is no part-payment option.
If you are dealing with a shop in person or over the phone, then they shouild be accomodating, but if full payment is due on line, then it's difficult.

ste_coxy

I recently transferred more than I needed to onto my M&S card from the 20 months interest free barclaycard as I needed the extra funds to pay off an overdraft - I was £1800 in credit until I got them to refund it into my bank account.

Check with your card company if they are ok with this. Some are funny about it others are ok.

lisyloo

Did you ask them in advance or just do it?

I have a funny feeling that if you'd asked them they would have said it's not allowed, but that doesn't mean they actively enforce it.

NekoZombie

I know someone who wanted to do exactly this - they had a lower limit than the item they wanted to purchase so they paid extra funds onto the credit card to cover the difference. They then attempted to make the transaction but the card kept declining. eventually she called the bank who explained they had blocked the card. Admittedly when she explained what she was trying to do they raised her limit, but this was 5 years ago, I have no idea if they would look so kindly on it now.