Can't buy car on credit card

mwo

I was due to purchase a car at a dealership today. I paid a £1000 deposit on my credit card last week and went to pay the balance today. In preparation for the transaction I transferred money (£17000) to my credit card so that it was in credit (negative) therefore after paying the balance I would be near 0 balance again.

They initially took the 17k payment, then said that they had a £1000 limit on all credit card transactions, so cancelled the transaction.

My credit card shows the payment out, but not the cancellation and I'm told by my credit card company this may take a week to be refunded fully.

Assuming this all works, how can I transfer my credit from the credit card to another account in order to pay on a debit card? I don't know if this is even possible?

[Deleted User]

You shouldn’t put the card in credit as it’s against the terms and conditions.

When the money is returned you need to request them to refund it to your current account which could take another 7-10 days.

Terry_Towelling

When the refund comes in ask your card company to pay you the amount of the credit balance.

What do you imagine the card company might mean when they say it may take a week to be refunded fully? That makes it sound like it will come in in dribs and drabs - or was that your own wording?

Take care when doing this in future. Card companies generally don't want you to put your account in credit in this manner (it is often in the T&Cs) but it seems some will let you get away with it.

molerat

Why did you want to pay on a CC if you had the cash available ? You already had s75 protection from paying the deposit.

mwo

Terry_Towelling wrote: »

When the refund comes in ask your card company to pay you the amount of the credit balance.

What do you imagine the card company might mean when they say it may take a week to be refunded fully? That makes it sound like it will come in in dribs and drabs - or was that your own wording?

Take care when doing this in future. Card companies generally don't want you to put your account in credit in this manner (it is often in the T&Cs) but it seems some will let you get away with it.

By this I meant that it may show as a pending transaction before that but I would have to wait until it was no longer pending

mwo

molerat wrote: »

Why did you want to pay on a CC if you had the cash available ? You already had s75 protection from paying the deposit.

I thought I may as well as it would equate to £25 or so in tesco clubcard vouchers

stehouk

was it worth the hassle for £25 ?

The_Fat_Controller

Putting a card into credit is entirely possible with the agreement of the issuer, I had no problem doing exactly what the OP did when I bought my car, very similar amount too.

Card was with Nationwide and all it took was one phone call.

boo_star

The_Fat_Controller wrote: »

Putting a card into credit is entirely possible with the agreement of the issuer, I had no problem doing exactly what the OP did when I bought my car, very similar amount too.

Card was with Nationwide and all it took was one phone call.

But it's usually against the terms and conditions and in almost all other circumstances will require the consent of the card company.

It doesn't sound like the OP got consent.

roddydogs

If the card had, say 0.5% cashback, it would be well worth it, if you could get away with it!

DCFC79

What is the limit on the card ?


If its a suitable limit why not buy 1 for that limit ?