"Overpaying" credit card with low limit for large purchase?

Delree

eskbanker wrote: »

Personally I think most people on here would recommend checking the product Ts & Cs and making your own mind up as to the risks! No doubt some (maybe even most) will get away with minor breaches, especially if it's only a small amount and/or for a short period of time, but equally it would be irresponsible to come on here and say that everything will be fine....

Fair point.

dzug1

Delree wrote: »

Most people here would have you believe that the sky will fall down if you put a card into credit ending with the Feds bashing your door down. Back in 2011 I left a £100 credit on my card for 3 months and heard nothing about it whatsoever. I can understand if it were thousands but come on people.

There's a difference between a refund putting a card into credit (OK) and paying money onto the card to put it into credit (frowned on, maybe tolerated for small amounts, maybe not)


Most institutions these days have enhanced money laundering procedures above £500 - certainly not thousands

Toe-Jam

Without getting bogged down in terms and conditions.

It doesn't work, i've tired.

The transaction checks that the amount is not greater than your limit as part of the authorisation, So even though the money is there it will still decline.

Aquamania

highspeedtrain25 wrote: »

I have a graduate credit card with RBS with a £500 limit, which I pay off in full every month. I am hoping to book a holiday next month, and the combined bill for flights and accommodation will be £600 at least. I have this money in my current account, but I'll be booking the holiday online so would prefer to use my credit card - I'm wary of using debit cards for online spending.

I'm wondering if it would be possible to pay more than the full balance on my credit card to give me enough money on it to pay for my holiday? For example, say I have £100 on my credit card just now - if I paid £200 on the card when the bill was due, would this give me £600 to spend next month?

The only alternative I can think of, other than using my debit card, is to ask for a credit limit increase - but I will need to apply for a mortgage in about three months, and I'm concerned that asking for more credit now might hurt my mortgage application.

Thanks in advance for any advice.

If you are worried about paying online by card, why not pay by cheque?

MisterBaxter

dzug1 wrote: »

There's a difference between a refund putting a card into credit (OK) and paying money onto the card to put it into credit (frowned on, maybe tolerated for small amounts, maybe not)


Most institutions these days have enhanced money laundering procedures above £500 - certainly not thousands

Even a refund putting my account in credit left me spending ages on the phone with customer services, in the end just bought something to put it back into debit. I was told when it happened that under no circumstances should my account be in credit (vanquis card), quoted money laundering and T&C's, the usual type of stuff. With that said I was able to spend the credit and my next balance was correct so their systems can cope with it.

talkshowhostess

I just got a Barclaycard Initial, or what I like to call, my Fisher Price card. The day I got it, I was booking £600 flights with my £400 credit limit. I called customer services, asked if it was possible to pay money onto my card before I bought the flights, and I was told this was not a problem. I owe about £200 on it now since my statement was issues, all my payments went through fine, I booked three flights, although I did get an automated call from the fraud dept to make sure the transactions for the US flights were not an issue, I said they were fine, and bobs your uncle. Call customer services, they will tell you fairly fast!