How to go overdrawn?

adrianwarhol

Ok so I have ten quid left on my credit card and its ages till pay day... I have noticed that sometime your credit card will let you go overdrawn... So I was thinking of going to the supermarket tomorrow night and buying something on my card and then getting cash back for say 100 quid! I know I will get fined and its silly but I am desperate. But will my card actually allow me to do this? I am with Capital One!

lawstudent

Can't get cashback on a credit card at supermarkets. Don't know anywhere you can tbh. Could try the cash machine but the interest will be higher as it will be treated as a cash advance plus whatever happens you will get charged £12 for going over your credit limit.

Hominu

You can't go overdrawn on a credit card, but you can exceed the credit limit which may result in either a declined transaction or a £12 over limit fee.

You can't ask for cash back on a credit card. You can however visit an ATM and withdraw cash upto a set limit. You will incur fees and interest by doing this.

adrianwarhol

Hmmm I have put my card in the atm machine before and it hasn't allowed me to take anything out! Even when I have money!

212

Then your cash limit may be 0, although unlikely!

some pubs give cashback. they shouldn't , but use your card for a £10-15~ round and say... i normally get £30-50 added to the bill. All the CC company see is a £65 purchase.

I fear that both ATM & POS may be pre-authed for you though - so they check you have available funds, which you unfortunately do not.

Pre-auth limits do vary by shop so you may be 'lucky' - your Cc company will not be amused though, and will charge you

cockmad

If I were you adrianwarhol, forget about going over your limit with Capital One, it's just not worth it as it will trash your credit file and dealings with them. Could you possibly borrow the money from family or friends. What about pawning something until payday, maybe your stereo, jewellery just enough to raise say 40 or 50 quid so you can eat and pay your bus fares to work.

CRISPIANNE3

adrianwarhol wrote: »

Ok so I have ten quid left on my credit card and its ages till pay day... I have noticed that sometime your credit card will let you go overdrawn... So I was thinking of going to the supermarket tomorrow night and buying something on my card and then getting cash back for say 100 quid! I know I will get fined and its silly but I am desperate. But will my card actually allow me to do this? I am with Capital One!

Some cards have shadow limits. If say you have a cl of 200 the shadow limit could be another 100 on top of this. Also I have been offered cash back on my credit card at Wilkinsons.

CRISPIANNE3

adrianwarhol wrote: »

Hmmm I have put my card in the atm machine before and it hasn't allowed me to take anything out! Even when I have money!

The reason being you probably have used your cash limit up.

JakeGreen

What is the limit on your card?

What do you need the extra money for?