American Express credit card overpayment

gmc600

Looking for some advice as I can't find anything online, I'm planning to make a large purchase (about £1000 more than my credit card limit), would it be possible/is it allowed to overpay my credit card by the amount required before making the purchase? I have asked the retailer if they could split into multiple transactions on multiple cards but they can't (most websites don't seem to be able to do this). My American Express Platinum Cashback Everyday Credit Card gives me 1% cashback, would I still get cashback on the full amount or only up to my monthly card limit?

Thanks

CliveOfIndia

It's against the T&Cs to pre-load a credit card.  In theory it could result in your card being closed - in practice this is probably unlikely.  What could very well happen though is that the overpayment is either not allowed or else immediately refunded.

Anecdotally people do get away with doing this, though I suspect you're more likely to get away with it if it's just a very small amount.

If you're wanting S75 protection then you only have to pay a small proportion of the total cost by credit card (even 1p would do it).  I'm guessing you're wanting the cashback, though?

You could always ask them if they'll increase your credit limit - this would be the simplest solution.

MattMattMattUK

gmc600 said:

Looking for some advice as I can't find anything online, I'm planning to make a large purchase (about £1000 more than my credit card limit), would it be possible/is it allowed to overpay my credit card by the amount required before making the purchase? I have asked the retailer if they could split into multiple transactions on multiple cards but they can't (most websites don't seem to be able to do this). My American Express Platinum Cashback Everyday Credit Card gives me 1% cashback, would I still get cashback on the full amount or only up to my monthly card limit?

Thanks

If I were you I would just ask Amex to raise the limit, or as Clive mentions if it is just for S75 you could split the transaction.  

DullGreyGuy

Pre-loading a card is against the terms and in many cases the card issuer will bounce the payment so the account never goes into the black.

AmEx can, at least for chargecards, be fairly amenable to a temporary uplift in limit for a one off purchase if you can prove you have the funds immediately available for repayment so could be worth a call... dont know if they are so flexible with credit cards.

prettyandfluffy

I believe overpaying a credit card is not allowed because of money laundering regs.  As others have suggested, give Amex a call - I have always found them to be very helpful.

gmc600

Thanks all, I spoke to AmEx and ended up just increasing my credit limit as they said there's no other way to do this. I'm sure I have managed to do it before, but as CliveOfIndia advised in their reply that was probably only possible as it was a small amount.

Marchitiello

gmc600 said:

Thanks all, I spoke to AmEx and ended up just increasing my credit limit as they said there's no other way to do this. I'm sure I have managed to do it before, but as CliveOfIndia advised in their reply that was probably only possible as it was a small amount.

Yes, Amex can be more flexible than other providers on this subject, particularly on their charge cards and they did temporary limit increases as well as preloading of funds, but it depends on who you speak to, particularly if they are based in Brighton or one of their foreign offices.