i have a visa and my grandmother told me that i have to wait and keep paying the bill before the card company puts money on it but i want more money now! is there a way were i can transfer money from my savings account into the credit card or something!!!!!! lol the first day of school is right around the corner so i spend alota money in hollster in american eagle lol i have a reputation to live up to! i had 500 bucks on that card but i have 3,000 dollars in my savings! i really want more money on that card! is there a way
2007-08-02 05:01:58 · 4 answers · asked by Smoke W 2 in Business & Finance ➔ Credit
You can pay off your credit card more than once a month so if you spend $300 today and pay it today you can spend it again tomorrow and pay it tomorrow. Why not just spend cash?
2007-08-02 05:12:36 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
I believe you may be confused.
Each credit card has a spending limit or credit limit. That is the most the bank is willing to loan you. Let's say that you have a 2000 limit. If you go out and spend 1000 in the first month, you'll get a credit card statement or invoice, and they will want you to pay some of it back. If you don't pay it all back, they'll send you a new statement a month later with new charges you've made plus interest. The interest is high on credit cards.
If you are at or over your limit, you can ask for a higher limit, or you can pay off some of what you owe. You can't go over your limit without getting denied or getting penalized.
2007-08-02 05:14:31 · answer #2 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
why don't u open a checking acct, transfer some of the money from savings into checking. why? w/ a checking acct, u can get a bank/debit card..u can use that like a credit card except the stores take the money directly out of ur acct
and no..u can't add money onto a CREDIT card...note the CREDIT..credit card company give u credit for spending and u pay them back..usually w/ interest
2007-08-02 05:25:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Your grandmother just doesn't want you to use the card unless you has a secured card, or debit card. That means you have to transfer the money from your checking to your credit card in order for you to use or if you have a debit card you may want transfer your money from saving to your checking so you can use. Otherwise, there's no transfer money to use a credit card. But if you have a debit card, you don't need to make monthly payment because it takes money directly from your checking account.
2007-08-02 18:34:41 · answer #4 · answered by Prenn 3 · 0⤊ 0⤋