Can you pre load a credit card

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Hi
I'm looking at getting a bit of extra cash for my hols. I've got a nationwide classic credit card i use for spending abroad. I've also got a santandar credit card that's offering 0% for 12 month on balance transfers. All though i have no debt on the nationwide card i was going to balance transfer £1000 from my nationwide to my santander to effectively put £1000 credit in my nationwide card. Are you aloud to do this. I would much rather have the money put into my bank but these card don't have that facility. I have a couple of other cards that i have low interest debt on so carnt use them. I also have a capitalone card which has a permanent low 5.9 % but i don't think they have the facility ether to balance transfer to my bank.. So that's what i want to do and can it be done. Ie there's nothing in credit card terms and conditions to say i carnt do this ?
Thanks Richard
Richard W
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  • Foxn86
    Foxn86 Posts: 92 Forumite
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    No you can't ! yes you can make the payment but it will be refunded by CC they do not like your credit card to be in credit ever, unless in something small like a few pounds. But you most certainly cannot put your credit card £1000 in credit.

    :)
  • PLog86
    PLog86 Posts: 68 Forumite
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    This seems to vary between cards/companies. I have put a card several hundred pounds in credit before I went on holiday and it didn't cause any problems.

    I have heard of others who have done this and had snotty letters from their CC company.
  • dickdasdedly
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    Ok Thanks and its back to the drawing board then. I will most likely balance transfer to my capitalone card after my holls if there is no offer on the santander card. I will cancel the santander then so there's a chance they will offer something then to keep me hopefully.
    Cheers Richard
    Richard W
  • Paul_Herring
    Paul_Herring Posts: 7,481 Forumite
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    One other problem that there used to be some while back (I don't know if it still is), but if your CC is in credit (i.e. a positive balance) then any purchases made while in that state may not covered by Section 75, since technically you aren't creating a debt at that point in time.

    Willing to be enlightened as to if this has changed.
    Conjugating the verb 'to be":
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  • itsanne
    itsanne Posts: 4,992 Forumite
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    All the above is true, but I put £1000 onto a Halifax Clarity card before going on holiday last summer with no problem. It might be worth trying half of what you were thinking.
    . . .I did not speak out

    Then they came for me
    And there was no one left
    To speak out for me..

    Martin Niemoller
  • PLog86
    PLog86 Posts: 68 Forumite
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    Another possibility (assuming you have internet banking set up) is to simply make payments using phone/internet cafe as you use up your credit limit.
  • chattychappy
    chattychappy Posts: 7,302 Forumite
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    There is also the risk of getting the card frozen pending an investigation/assessment of money laundering issues.
    One other problem that there used to be some while back (I don't know if it still is), but if your CC is in credit (i.e. a positive balance) then any purchases made while in that state may not covered by Section 75, since technically you aren't creating a debt at that point in time.

    Willing to be enlightened as to if this has changed.

    I think it's in S75(1) itself:

    If the debtor under a debtor-creditor-supplier agreement falling within section 12(b) or (c) has, in relation to a transaction financed by the agreement, any claim against the supplier in respect of a misrepresentation or breach of contract, he shall have a like claim against the creditor, who, with the supplier, shall accordingly be jointly and severally liable to the debtor.[My emphasis added.]

    The theory goes that if you've put the CC into credit then the CC is no longer "financing" the transaction. It is arguable though, because "financing" isn't clearly defined. The transaction is still governed by an agreement under the act and monies are still being delivered to the merchant via the network. I'm not aware of any litigation on this except for some rulings by the FOS on the use of CCs as credit tokens (slightly different issue - the context was unauthorised use).
  • dickdasdedly
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    Hi
    Thanks for your reply's everyone. Don`t want to risk the card being frozen before or while I'm away. So ill try after the holls with santander and if they don't offer anything i will cancel it and put on my capitalone card for a couple of months then look about then for something.
    cheers all, Richard
    Richard W
  • jonnyb
    jonnyb Posts: 599 Forumite
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    I have twice put my tesco clubcard credit card into credit, to save having to pay it off in full for several months (which is what we normally do).
    Last time I managed to get it £4,000 into credit, and have spent that down over the last 6 months or so, as I had a few big purchases to go on it.
    No hassle at all from tesco about it being in credit. And I knew about the S75 issues - they were not a concern to me.

    In my opinion, no harm in trying it.:D
    Karma is a wonderful thing. ;)
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    jonnyb wrote: »
    I have twice put my tesco clubcard credit card into credit, to save having to pay it off in full for several months (which is what we normally do).
    Last time I managed to get it £4,000 into credit, and have spent that down over the last 6 months or so, as I had a few big purchases to go on it.
    No hassle at all from tesco about it being in credit. And I knew about the S75 issues - they were not a concern to me.

    In my opinion, no harm in trying it.:D
    Stupid advice if you don't mind me saying - what if the card was blocked while OP was abroad - its a lot more of a hassle trying to phone from abroad?
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