Adding Funds To Exceed Credit Limit On Credit Card.

kempiejon

Tony5896 said:
I’ve not found a way of randomly putting my Amex account into credit (tried to pay the fee in advance)

Do a balance transfer to another credit card for the amount due on your Amex just before the DD pays the balance on your Amex.

sausage_time

Nasqueron said:

sausage_time said:

Not against the T&Cs for all credit cards.   Does not seem to be an issue for Amex for example.

https://www.americanexpress.com/uk/customer-service/faq.credit-balance.my-account-balance-is-in-credit.html

I'm sure I have seen similar for non-Amex.  But a (temporary?) credit increase seems worth asking for if that's what is needed in this case.

That says only if you have an account in credit they want to refund it or similar - doesn't specifically cover deliberately putting the card in credit - you can accidentally do it e.g. if a DD is taken with a BT or a refund

I can't see anything specific in the T&Cs prohibiting.

https://icm.aexp-static.com/Internet/internationalcardshop/en_gb/pdf/platinum-cashback-everyday-credit-card/Plat-CB-everyday-TandC.pdf

But not something that would be useful to me I'm any case.

SuperAllyB

I thought I'd read somewhere on here that even if you can do it, you might not get S75 protection because you're effectively using some of your own money rather than the lenders.

eskbanker

SuperAllyB said:

I thought I'd read somewhere on here that even if you can do it, you might not get S75 protection because you're effectively using some of your own money rather than the lenders.

But, as above, section 75 allows the entire item value to be covered even if only partly funded by CC, as long as all relevant criteria are met.

CliveOfIndia

sausage_time said:

Nasqueron said:

sausage_time said:

Not against the T&Cs for all credit cards.   Does not seem to be an issue for Amex for example.

https://www.americanexpress.com/uk/customer-service/faq.credit-balance.my-account-balance-is-in-credit.html

I'm sure I have seen similar for non-Amex.  But a (temporary?) credit increase seems worth asking for if that's what is needed in this case.

That says only if you have an account in credit they want to refund it or similar - doesn't specifically cover deliberately putting the card in credit - you can accidentally do it e.g. if a DD is taken with a BT or a refund

I can't see anything specific in the T&Cs prohibiting.

https://icm.aexp-static.com/Internet/internationalcardshop/en_gb/pdf/platinum-cashback-everyday-credit-card/Plat-CB-everyday-TandC.pdf

Under Section 4 on that link you've posted:

"If you pay more than you owe us under this agreement, we'll return the amount you've overpaid unless
you owe us money on your other accounts with us. In that case, we can use your overpayment to pay
off the other sums you owe."

Gerry1

You may find that you can't top it up online but it may work if you pay in at their counter.  I did this with Santander to avoid paying interest on cash withdrawals from their Spanish ATMs.

Some years ago I had a Barclaycard that went into credit because of a season ticket refund.  Most spending was via other cards with better benefits so the balance reduced relatively slowly.

Savings rates were trivial then and cash withdrawals were expensive, so I didn't bother to ask for a refund.

In the end they sent me a cheque.

CliveOfIndia

Gerry1 said:

Some years ago I had a Barclaycard that went into credit because of a season ticket refund.

Having a credit balance due to a refund is treated differently, and is permitted.  And yes, you do then have the option of requesting a refund if you're not going to use it up via your normal spending patterns.

It's deliberately putting a card into credit that breaches the T&Cs.  Anecdotally, some cards are less strict about it than others (as in the Santander example you gave), but strictly speaking it is against the T&Cs of any card.

NoodleDoodleMan

Odyssium said:

I wish to purchase something that is more that the credit limit on my credit card. Is it fine to add the required extra funds to my credit card prior to the purchase, so I can purchase the item and not exceed my credit limit. 
If so, then will I still receive the added protection that a credit card purchase provides?
Thank.

 We had a similar situation when paying for new kitchen work  - by previous negotiation the company allowed me to settle using card by two separate instalments with minimal delay between each.

I ensured that there was a zero balance on the card - then paid almost the full amount of its credit limit to the supplier - then 24 hours later transfered sufficient funds into the card from our current account in order to restore the credit limit sufficiently to allow the second payment to proceed.

Obviously you need to arrange the mechanics in advance - but it can work where the other party is onside.