Aqua 3% (but low credit limit). Can you overpay?

lisyloo

Be aware that you might not be covered if YOUR money (credit balance) is stolen or used fraudulently.
They have insurance and cover THEIR money (debut balance).

For immediate use it may not be a biggie, but something to bear in mind.

Sillychuckie

Silky89 wrote: »

Any money you load on the card, your credit limit increases to the amount you have paid + the amount of the original limit (£200).
Would not help in your situation though, so pretty pointless - Sorry!

Sounds perfect to me - that is exactly what I want.

I have a credit limt of £500, but I want to purchase something worth £600. I load an additional £100, and my 'transaction limit' is now £600.
Thats exactly what I'm after.
Their 'transaction' limit, includes any 'in-credit' amount, and isn't restricted to that of the credit limit.

It means I can overpay by BACS, and make payments greater than that of my limit.

I take the point about theft and perhaps not having the money covered - but it would certainly be short term (same day it shows on statement would be the day I spend it).

SC

Plxply

Just to warn you, loading does breach the T&C's of the card and they can withdraw the cashback you've earned and make you in-eligible for the rest of the year.

Sillychuckie

Plxply wrote: »

Just to warn you, loading does breach the T&C's of the card and they can withdraw the cashback you've earned and make you in-eligible for the rest of the year.

Thats what I thought - but I have it in writing from them now that it is 'supported'. I'll recheck the terms before doing it. I have replied to their mail again to get them to confirm.

td_007

This needs a bit of planning - what I did was spend aprox £450 (of £500 credit limit) and made the payment on the day the statement was generated. On the direct debit date a further £450 was taken which put me in credit by £450 and overall I had £950 to spend:T

Mishomeister

Don't do it!!!

I think they use same system as Halifax as their statements look the same

I was buying something with my Halifax card for £1300 but my limit was only £1100 I have brought it in to credit by £200 thinking I can now buy for £1300 however that did not work. I've telephoned them and they told me that hence my limit is £1100 this is also the maximum transaction size.

Beware

Quartermass

I have just tested something tonight... I made a payment through internet banking on my bank account - a bill payment through faster payments, and it has affected my available balance immediately.

It may not be quite as good, but you could spend 500, pay in 400 and then spend 400 all in the same day.

Mishomeister

Quartermass wrote: »

I have just tested something tonight... I made a payment through internet banking on my bank account - a bill payment through faster payments, and it has affected my available balance immediately.

It may not be quite as good, but you could spend 500, pay in 400 and then spend 400 all in the same day.

But if you buy say computer from PC world for say £600 they will not allow you to pay say £500 than come back in few hours time ad pay another £100. You will have to pay all £600 in one go which will not be possible

Quartermass

Mishomeister wrote: »

But if you buy say computer from PC world for say £600 they will not allow you to pay say £500 than come back in few hours time ad pay another £100. You will have to pay all £600 in one go which will not be possible

And that's why I said it wasn't quite as good. I think it's pretty obvious that for some circumstances it'd be fine, and for others it would not.