Credit card protection over limit purchase

Inoshe

I have a credit card that I pay money onto with faster payments from my bank account. I know that if my limit credit is £100.00 and i have a zero balance i can pay £100.00 (or more) onto that card and within 2 hours I will be able to purchase an item up to £200.00. 
The question is as the purchase is over my credit limit would the credit card company still cover the entire cost of the purchase if something went wrong or would it be just the £100.00 credit limit.

jonesMUFCforever

No you would be covered for the whole purchase. (S75 only covers transactions between £100 and £30k)

D3xt3r5L4b

You also shouldn’t put the card into a positive balance

Inoshe

jonesMUFCforever said:

No you would be covered for the whole purchase. (S75 only covers transactions between £100 and £30k)

Thanks for the answer. I get section S75 for purchases between £100.01 and £30k. It's the fact that the card is only authorised to £100 and the transaction on the card would be more than that that worries me. 

Inoshe

D3xt3r5L4b said:

You also shouldn’t put the card into a positive balance

I think you mean negative balance but it would literally be for no more than an hour 

Arthurarthur52

I can understand the idea of not overpaying but i am anal about odd numbers. If my interest charging card bill was for 342 I would pay 350. 18 months ago I overpaid by 22 on my lowest limit card and tried to make a payment for 120 for the deposit on a rental apartment. They bounced the payment on the basis that “the computer” flagged up money laundering. 

Another card approved a transaction with viagogo which took 2 years to recover but refused a payment for a lesser sum to one of the biggest shirt printers as suspicious, because both were done overnight which is when I do a lot of banking. It’s 427 now but pad everyone. 

dr_adidas01

Inoshe said:

D3xt3r5L4b said:

You also shouldn’t put the card into a positive balance

I think you mean negative balance but it would literally be for no more than an hour 

It would be a positive balance like @D3xt3r5L4b says, If your credit limit is £100 and you haven't used it, yet you pay £100 onto it it would be a positive balance..  Also as @D3xt3r5L4b has eluded to most credit card companies have T&Cs that say you should not deliberately put your account into a positive balance.

kimwp

NOT an expert on this, but the section 75 seems to be that purchases between £100 and £30k are covered when only part of the payment is made using a credit card. I thought at least £100 had to be on the credit card, the "internet" seems to think it's any amount- you'd need to check this, but it could be a solution if you can pay in two chunks.

I'd be concerned about breaking the t's and c's by loading the card positively, though.

Inoshe

dr_adidas01 said:

Inoshe said:

D3xt3r5L4b said:

You also shouldn’t put the card into a positive balance

I think you mean negative balance but it would literally be for no more than an hour 

It would be a positive balance like @D3xt3r5L4b says, If your credit limit is £100 and you haven't used it, yet you pay £100 onto it it would be a positive balance..  Also as @D3xt3r5L4b has eluded to most credit card companies have T&Cs that say you should not deliberately put your account into a positive balance.

Pretty sure it's negative and Google agrees 

[Deleted User]

kimwp said:

 I thought at least £100 had to be on the credit card, the "internet" seems to think it's any amount

The "internet' is correct.

phillw

Inoshe said:
Pretty sure it's negative and Google agrees 

Maybe something wrong with your google, mine shows that people use both negative and positive to mean the same thing.
If someone is using either word they likely mean credit balance, but you should be able to work it out from the context.