Why can't UK credit cards have a positive balance ?

CM66

I guess it depends on the card as i currently have a £5k positive balance on my Lloyds Avios one

GingerBob_3

CM66 wrote: »

I guess it depends on the card as i currently have a £5k positive balance on my Lloyds Avios one

Did you load the card with the money, or has it ended up there as a result of refunds and cancelled transactions?

CM66

I loaded it myself (by bank transfer) in preparation for a large payment being taken!

King_Of_Fools

CM66 wrote: »

I loaded it myself (by bank transfer) in preparation for a large payment being taken!

If the large payment is more than your credit limit it will probably be refused irrespective of how much positive balance you have on the account.

grumbler

CM66 wrote: »

I guess it depends on the card as i currently have a £5k positive balance on my Lloyds Avios one

>> Avios Rewards Draft Terms & Condition

15.9 You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

You can get away with this, but it doesn't mean that you always will.

safestored4

I don't think that there is a hard and fast rule on this. Our son who has lived in the States for the past few years has kept his Natwest deposit account and credit card open for convenience. If he is travelling somewhere where he thinks the credit card may be useful he just transfers over a lump sum and Natwest have always accepted this without question.

afly

I hit a strange one with my halifax clarity reward card. They pay me a fiver every month direct to the card as long as I spend > £300 but their interest rates are high so I clear the balance every time I use it.

Essentially this leaves me with a +£5 balance each month of their own making, violating their own T&C's

grumbler

afly wrote: »

Essentially this leaves me with a +£5 balance each month of their own making, violating their own T&C's

The T&C disallow you to put the card it credit, not them.

SnowTiger

afly wrote: »

I hit a strange one with my halifax clarity reward card. They pay me a fiver every month direct to the card as long as I spend > £300 but their interest rates are high so I clear the balance every time I use it.

Essentially this leaves me with a +£5 balance each month of their own making, violating their own T&C's

http://www.halifax.co.uk/creditcards/help-guidance/terms-and-conditions/clarity-card/:

16.9 - You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

d123

SnowTiger wrote: »

http://www.halifax.co.uk/creditcards/help-guidance/terms-and-conditions/clarity-card/:

16.9 - You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

Though to be strictly correct it doesn't say you can't transfer funds from a bank account or debit card..