Credit card question – can I "pre-load"?
Just saw this in the FAQ:
Can I put money on my card to increase my available credit whilst on holiday?
Credit cards are not designed to be used this way. Using the card in this way breaches the product’s Terms & Conditions, which state:
7.7 You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money was sent.Posted 3 years ago
This feels like something I should know the answer to, but I don’t. Ahead of going on Holiday in a few weeks I have followed the advice here: http://www.moneysavingexpert.com/travel/cheap-travel-money#halifax and ordered a credit card which won’t charge me any fees for spending abroad.
Unfortunately, the initial credit limit isn’t going to quite cut it. Can I “pay into” my credit card from my current account and will this increase my credit limit by the amount I have paid in?
I have the spending money saved, I just want the protection of not getting loads of charges every time I use it.
CheersPosted 3 years agoandrewhMember
I’ve done it (Natwest MasterCard)Posted 3 years ago
Had a bill for £x, went and paid £x+n and it was fine, had £n to spend before I started using my allowance. They charge interest when in the red but don’t pay it if you are in the black. That was for going abroad too, it’s the only card I had which works there and I didn’t want to run out
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