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Credit Card Limits
ravenk
Posts: 152 Forumite
in Credit cards
Just curious.
If you had a credit card with say a £1,000 limit.
You can administer the card on-line.
Week 1 - Spend £950 - £50 credit limit left
Week 2 - Pay £950 off card on-line
Week 3 - Spend £950 again.
Week 4 - Pay £950 off card on-line.
The question is basically , can you pay your credit card bill early / every time you get near the spend limit ?
I would say you could .....But ....
If you had a credit card with say a £1,000 limit.
You can administer the card on-line.
Week 1 - Spend £950 - £50 credit limit left
Week 2 - Pay £950 off card on-line
Week 3 - Spend £950 again.
Week 4 - Pay £950 off card on-line.
The question is basically , can you pay your credit card bill early / every time you get near the spend limit ?
I would say you could .....But ....
0
Comments
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You can do that however i owuld suggest to spend no more than £700 of a £1000 limit card as your dancing close to the limit!0
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That's good news then.
Yes staying below 70% of limit sounds a wise move.0 -
Just make sure the money is showing as being received by the lender before you start spending again.
There may be a delay of a couple of working days from you making the transfer to them acknowledging it as received.
This will be different for different lenders, some may show the payment instantly.0
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