£500 Credit Limit?

jamalfatty

cifpower wrote:

To get the credit card protection, not all the purchase has to be on the card. If the purchase is £100+ you could only pay £1 on a credit card and the protection is applied for the full cost.

I would very much doubt this is true, as an example, if I went out and bought a top of the range plasma tv for £8000, paid cash for majority and put £100 on my CC, I then break the tele somehow, the CC companies insurers will stump up £8000??

YorkshireBoy

jamalfatty wrote:

I would very much doubt this is true, as an example, if I went out and bought a top of the range plasma tv for £8000, paid cash for majority and put £100 on my CC, I then break the tele somehow, the CC companies insurers will stump up £8000??

I believe cifpower was talking about Section 75 (CCA) protection.

student100

u2o, first, set up a direct debit to pay off the natwest CC in full each month.

Second, ask if Natwest will raise your credit limit. If not, & if your finances are otherwise in good shape, consider applying for another CC in addition to your Natwest one. I had one CC for a year or so and was in a similar situation with a £500 limit (some CC companies have a policy of that being the max limit for a student whatever your other circumstances). I applied for a Nationwide CC as well and was given a £1500 limit on it! (They've since raised that even higher...).

Remember that as a student both student loan and any money your parents give towards living costs etc all count as income.

u2o

thanks all! yeah will set up a DD to pay off in full each month, should have thought about it ealier!

went on the online account and just clicked on Pay Credit Card button - transferred from current account, figured may as well pay the interest as soon as poss. apparently it takes up to 4 business days.

Hannah111

I dont know on all internet bankings you can do it, but with First Direct you can make a payment saying to go out of your account on a certain date, or to arrive to the beneficiary by a certain date. Therefore if i'm sorting my bills out a week before hand and i know it has to be with them on 9th Jan for example, i'd say... arrive by 9th January. I at least know it'll get there on time and if over bank holidays, etc, they'll work it out for you. Dont know if that helps.