Purchase Greater than Credit Limit

dominic7il

Over the next few days I wish to buy a Mac which is going to cost me roughly £1,070 - I'd like to buy it on card so I can split the cost over two months. Unfortunately my credit limit is just under at £1,000, If I were to overpay my card by roughly £100 but spend it almost instantly would it have any negative repercussions?

molerat

Many cards will not allow you to put the account in credit and others will not allow a purchase that is greater than the credit limit amount. Paying part of the purchase in cash and the remainder on the card would be the easiest option with no trip ups waiting for you.

StuC75

agree with Molerat, that regardless of putting into credit, some cards will limit transactions to the credit limit. Other option is speak to your credit card company and see if they can up the limit...

analyst_2

Agree with StuC75.
Even if they won't permanently raise your credit limit, if you call them and ask for a temporary raise for a special purchase they'll usually do it.

Well, I mean, I have actually done it before, and my credit limit dropped again after the agreed period and all was well.

Wywth

dominic7il wrote: »

Over the next few days I wish to buy a Mac which is going to cost me roughly £1,070 - I'd like to buy it on card so I can split the cost over two months. Unfortunately my credit limit is just under at £1,000, If I were to overpay my card by roughly £100 but spend it almost instantly would it have any negative repercussions?

If you can't get a credit limit rise (even temporarily) ask the Mac supplier to take £1000 on the card and pay the remaining £70 by other means

covmike

some companies can do temporary credit limit increase but generally there needs to be some extunuating circumstances for that, and buying a new luxury item probably isn't on that list.

As has been said any benefit you get from paying on your card will be the same reagrdless of how much of the transaction is paid for on the card, so you can pay £1000 on the card and then pay the rest in cash or any other payment method and still have the ability to claim from the credit card if necessary in the future.