Halifax credit card and putting money in before I spend

khampson

Hi, I have a Halifax credit card and I was wondering if it is possible to put money on the account before I use the card? Using it like a pre-paid credit card even though its not! I planned to put about £10 a week so when I use it I don't take the full hit of the amount spent, has anyone tried this and do banks allow this?

Keith

Tixy

I can't tell you specifically about the halifax - but for most cards is specifically against the T&Cs to go into credit. So you could find your money repaid to you or if it happens frequently even have you account closed.
When its a one off because people have overpaid the previous bill in error the banks generally aren't too bothered, but if you started to pay money before you even use the card I think they would query it.

Gromitt

Some banks are picky, specially if they are offering 'no fee' type cards.

Why not open an Online Saver account with Halifax, put £10 a week into that and then pay the card off from that account when the bill arrives? This way you would also get an interest of 2.8% rather than nothing.

jen245

From the Clarity card t&c

11.7 You must not make payments, or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account, to the account from which the money was sent.

In a nutshell, no you can't.