Credit card... credit?

[a1ex2001]

I have a hunch his limit is not 10k to allow this. I could be wrong as he did not say his limit

I had the same problem, I opened a brand new card for the 2 years interest fee but the limit wasn’t quite enough so I rang them up and they increased it a couple of K no questions asked. I thought it was pretty shady practice as it could encourage someone to borrow more than they can afford!

You can always open another card if your credit record is up to it and you don’t mind any slight hit it will take!

 

[norm]

You can always open another card if your credit record is up to it and you don’t mind any slight hit it will take!

I took out 7 cards in the space of 3 months for stoozing purposes, the CC companies don't seem to care if your credit rating is good. It comes down more to how you manage your finances and your income which determines if they'll lend to you.

 

[Tony Edwards]

Hey,

Is it possible for me to transfer say 10k onto my natwest CC and then make a purchase on said CC which would use up the entire 10k?

Does it allow it to work like that??

Ta muchly

Yes. The credit limit is for the amount you would lend. So if you had a 2k limit and put 10k in it you could spend 12k.

 

[Goodie]

Guessing this is just a case of wanting to buy something that the credit limit doesn't allow for. ie £16k car, £6k limit so get £10k credit to allow for the purchase. Maybe?

 

[Semple]

I had the same problem, I opened a brand new card for the 2 years interest fee but the limit wasn’t quite enough so I rang them up and they increased it a couple of K no questions asked. I thought it was pretty shady practice as it could encourage someone to borrow more than they can afford!

You can always open another card if your credit record is up to it and you don’t mind any slight hit it will take!

I imagine for the majority of people with credit cards who clear their balances each month, the lender would have no issues increasing the credit limit a good few K.

Guessing this is just a case of wanting to buy something that the credit limit doesn't allow for. ie £16k car, £6k limit so get £10k credit to allow for the purchase. Maybe?

As others have pointed out though, you don't need the full purchase price paid via CC to get the protection.

 

[a1ex2001]

I imagine for the majority of people with credit cards who clear their balances each month, the lender would have no issues increasing the credit limit a good few K.



As others have pointed out though, you don't need the full purchase price paid via CC to get the protection.

Maybe it's a purchase that has to go through in a single transaction, it is quite difficult sometimes to split a purchase although for these sort of sums it shouldn't be!

 

[Diagro]

Maybe it's a purchase that has to go through in a single transaction, it is quite difficult sometimes to split a purchase although for these sort of sums it shouldn't be!

This was it exactly.
Mostly a limitation I wanted to assign the transaction myself.
I wanted to use my CC, and pay the lump sum in ONE transaction.

Which by the way, worked like a charm.

 

[Bald-Eagle22]

You might find the vendor has a limit on purchase amounts . I tried this buying a car once from Fords as the card was giving a point per pound at the time - Tesco’s . Fords only allowed me to use 5k of a 10k limit,.

 

[Vandle]

Did this when renovating our house. Preloaded the credit card for each instalment we paid the builder in amounts that were way higher than our credit limit to take advantage of the CC points scheme. Got some bits of new furniture and all new bedding and towels out of it, saved a couple of grand overall.