credit card question.

teednab-el

Can someone help me out here and explain the following:

Lets just say my credit card limit is €1000 for the month and I want to book a hotel online and the cost is €1150 in total for example, can I transfer money from my current account and add to my limit on my credit card for that month?

So I would take 150 euro out of my current account and add it to my limit on my credit card. Can this be done or do I have to ring the bank and ask them to increase my limit of my credit card?

I only increased my limit at Christmas from 500 to 1000 euro so I dont think they would increase my credit card limit again for some time. I could be wrong though.

Any help would be appreciated.

Thanks.

coylemj

teednab-el wrote: »

I only increased my limit at Christmas from 500 to 1000 euro so I dont think they would increase my credit card limit again for some time. I could be wrong though.

If you pay your bill every month on time then you should have no problem getting the limit increased. Credit card companies used to progressively increase the limit without you even asking but pressure from the financial regulator means they can't do this anymore but if you have a good record they shouldn't have a problem upping your limit.

teednab-el

coylemj wrote: »

If you pay your bill every month on time then you should have no problem getting the limit increased. Credit card companies used to progressively increase the limit without you even asking but pressure from the financial regulator means they can't do this anymore but if you have a good record they shouldn't have a problem upping your limit.

All of my bills are paid through direct debit and are paid 100% in full and on time. Should I give them a ring and inquire? They said to me before that I couldn't increase my limit for 6 months or so and even at that it would be accessed.

Dubhlinner

yeah you can lodge to the card to put it in credit. When the hotel's system goes to debit the CC company computer will check the funds and debit the available amount.

coylemj

teednab-el wrote: »

All of my bills are paid through direct debit and are paid 100% in full and on time. Should I give them a ring and inquire? They said to me before that I couldn't increase my limit for 6 months or do and even at that it would be accessed.

Ring them and ask, even for a temporary increase in the limit.

Mellio

Why ring them and take out more credit than you need.
You can put the €150 off your credit card and it will have a credit balance of
€150.

There should be no issues with the hotel or credit card as you will not be exceeding your limit once you have applied the €150 to your Credit Card.

Just make sure the €150 is showing as cleared on your CC first.

coylemj

Mellio wrote: »

Why ring them and take out more credit than you need.
You can put the €150 off your credit card and it will have a credit balance of
€150.

There should be no issues with the hotel or credit card as you will not be exceeding your limit once you have applied the €150 to your Credit Card.

Just make sure the €150 is showing as cleared on your CC first.

You're assuming he has the €150 in spare cash to frontload his CC account. The OP mentioned taking the money from his current account to put the CC account in credit, this could potentially involve him paying interest. If he gets an extension of his credit card spending limit, he can potentially get free credit for the full amount for up to 7 weeks and it will cost him nothing.

Cash is king.