Paying off CC to make new purchase

Hominu

My CC limit is £500.
Tonight there is £300 left.
Monday, I want to spend £400.

I've just made a payment of £200 (the full amount outstanding). If I attempt the £400 spend on Monday, will it get rejected and say I only have £300 available?

The payment was made by faster payments.

I'm worried it might take them until end of business of Monday to recognise the payment made tonight.

CC Provider: Aqua

jonesMUFCforever

I think you are correct that Aqua won't update their account records until end of business on Monday.
Can you not put £300 on credit card and £100 on a debit card?

YorkshireBoy

Hominu wrote: »

I've just made a payment of £200 (the full amount outstanding). If I attempt the £400 spend on Monday, will it get rejected and say I only have £300 available?

The payment was made by faster payments.

I'm worried it might take them until end of business of Monday to recognise the payment made tonight.

CC Provider: Aqua

The best people to ask are Aqua. Maybe give them a call in the morning?

However, they have until close of business Tuesday (under the PSRs) to credit your account...which you may not 'see' until Wednesday morning.

Worryingly, their FAQ section says...

How long does it take after I have made a payment before I can start using my aqua credit card again?
If you have available credit you can continue using your card. If not, please allow up to 7 working days for your payments to clear before you try to use your aqua credit card again.

...but this may be old text which pre-dates the introduction of the PSRs.

But you'll be checking your available credit online before attempting to use the card won't you? Because even if they haven't yet processed/cleared your payment they may still allow your £400 transaction...and charge you £12 for the privilege (and possibly mark your credit file as being overlimit too!).

Hominu

I checked my account this morning before I was going to contact Aqua and got a nice surprise - even though the credit isn't showing on my list of transactions, the available balance has been increased to my credit limit.

My 'Current Balance' is still £200.
But 'Available to spend' is now £500 (my credit limit)

I really didn't expect them to update it so quickly. I expected Monday by the earliest.

:j Thank you Aqua! :j