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    • Chrisinnes
    • By Chrisinnes 11th Feb 18, 8:41 AM
    • 1Posts
    • 0Thanks
    Using normal CC as a ‘top up’ CC
    • #1
    • 11th Feb 18, 8:41 AM
    Using normal CC as a ‘top up’ CC 11th Feb 18 at 8:41 AM
    I want to keep a couple of CCs for various sensible reasons (protection, travelling, etc). However I don’t want the ability to owe money on them.

    Currently they are maxed out (although I always make min pmts on time). I am moving house soon and can pay all debts off with sale of my house (woohoo). Being maxed out is oviously bad for my credit files.

    So my idea is to have as low a credit limit as they will let me have (Ł0 ideally) and ‘top up’ wh n I get paid so I can spend on them with my own money.

    But will this still have a bad effect on my credit files? I’m guessing I’ll put about Ł500 a month on them and just spend as I go.
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    • zx81
    • By zx81 11th Feb 18, 8:44 AM
    • 16,462 Posts
    • 17,515 Thanks
    • #2
    • 11th Feb 18, 8:44 AM
    • #2
    • 11th Feb 18, 8:44 AM
    You can't have a zero limit. That's a closed account.

    It's also against the terms to put the account in credit.

    You'll need to either use the credit card properly, or use your debit card instead. I'd suggest the former if you need to build a better credit history.
    • Tarambor
    • By Tarambor 11th Feb 18, 1:33 PM
    • 2,711 Posts
    • 1,946 Thanks
    • #3
    • 11th Feb 18, 1:33 PM
    • #3
    • 11th Feb 18, 1:33 PM
    You can't do what you're wanting to do however there are products that do do what you want to do. You can get pre-paid credit cards. With these there is no credit facility, you load money onto them then spend that. The downside is that you don't get Section 75 protection because you aren't being offered credit. However for controlling spending and definitely for travel they are worth having. If you go abroad the best one for you to use would be Revolut. Revolut charges no currency conversion fees, has excellent currency conversion rates (fractions of a cent below Mastercard rates), no charges for cash withdrawals from cash machines and you can transfer the balance to different currencies in an instant with a mobile phone app.

    I would keep a normal one for purchases over Ł100, getting them to lower the limit you currently have available, but I'd leave it at home and only take it out specifically to purchase an item over Ł100.

    As with all budgeting you're going to have to exercise some willpower, there is no magic fix, that is the only one. Only you can prevent yourself spending on a card.
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