Want to make a £1500 purchase on a £1200 limit card, how?

jiras410

Hi,
I have just opened a new card to make a large purchase snd only then did it occur to me that my purchase is £300 over the credit limit of the card. Can i put the £300 on my card before i make the purchase? Do i need to check this with the provider of the card first? Any experience with that at all?
Thanks so much!

Hedgehog99

Make sure your balance is in credit (and time to clear!) by the time you do the transaction. For safety, perhaps pay in a bit extra in case the bill varies on the day?

eskbanker

Most cards prohibit such preloading in their Ts & Cs, so check yours carefully first!

grumbler

Also, AFAIK, even if the card is in credit, some cards can reject transactions bigger than the credit limit.

stator

Ask the seller/supplier to split the transaction onto multiple cards

Aquamania

jiras410 wrote: »

Hi,
I have just opened a new card to make a large purchase snd only then did it occur to me that my purchase is £300 over the credit limit of the card. Can i put the £300 on my card before i make the purchase? Do i need to check this with the provider of the card first? Any experience with that at all?
Thanks so much!

Talk to the credit card provider and explain the situation.

They may, for example, offer to increase the credit limit for you, even if just on a temporary basis long enough so that you can make the purchase and pay back enough to get the credit limit reduced back to the original again.

As mentioned, pre-loading of credit cards may be prohibited in the terms and even if permitted/performed, transactions of a value in excess of the agreed credit limit may be rejected anyway.

As it's a recently issued card, the credit card provider may be unwilling to assist you until you have built up some (good) history with them, typically of at least 6 months, but no harm in asking nicely.

Aquamania

stator wrote: »

Ask the seller/supplier to split the transaction onto multiple cards

Or if you don't have any other cards to use, ask if they will accept cash and card (so you don't bust the current agreed credit limit)

Or ask if they would be prepared to take a deposit of say £300 on the card, which you can then pay off in full, and once you are sure it has cleared your account, then pay the remaining balance of £1200 using the same card

lisyloo

Another possible option is to pay in two installments and pay it off in between.
If you have mobile banking this could even be a few minutes apart i.e. a faster payment from your mobile phone.

jiras410

Thanks everyone. I guess once I receive my card I'll just give them a call and see what they say. If not I might try to split the transaction cash and credit card if they let me. Cheers!

CKhalvashi

If it's purely for the added protection, it may be worth putting whatever you want on the CC, then paying the additional with DC.

chattychappy

Yep, don't try pre-loading.