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Overpayment of credit card limit
orchard11
Posts: 1 Newbie
in Credit cards
Hi I need a bit of advice I have a capital one credit with £200 limit on it I pay the balance in full every month by DD and today when I contacted Capital One they would not offer me a credit limit increase. I need £300 limit on this card to put down a deposit for a hire car (as they only will accept a credit card in my name and not my debit card or a prepaid card) so I contacted capital one and was advised to send a faster payment to this account, which I did and I transfered £400. It is now saying my credit limit is £200 and I have an available to spend balance of £400. Can I use this card for the deposit?
Any information on this would be greatly appreciated!!!
Any information on this would be greatly appreciated!!!
0
Comments
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Yes, you can.
Be aware, deliberately putting your account in credit is a breach of the T&Cs. I wouldn't do it on a regular basis.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
I just did similar but in a much bigger way, I mistakenly had a refund of £2500 sent to my cap one account which has a balance of £150 on it! Have emailed them but suspect I'm in for a real headache sorting this one out!0
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I just did similar but in a much bigger way, I mistakenly had a refund of £2500 sent to my cap one account which has a balance of £150 on it! Have emailed them but suspect I'm in for a real headache sorting this one out!
I would not think this is an issue if you call and explain the situation as I have had offers of a refund or leave it on my card before, |Mine is not cap one but think for the most part the card companies work in a similar way.0 -
Thanks Stevie, just got off the phone with Capital One, just as you said it won't be a problem, have advised me they have received the money and just give them a call next week when it's processed, they will either transfer it to my bank or hold it on the card as a credit, either way it's not a problem.0
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glentoran99 wrote: »Is it? if they told him to do it?
Yes it is.Your account is a credit card facility and you should not therefore put it into credit.
taken from here http://www.capitalone.co.uk/creditcards/classic-mastercard-credit-card.jsfI’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0
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