Is it possible to transfer money to a credit card and use it to buy something that costs more than my normal credit limit?
More details:
I have limited credit and the only credit card that I have is my student card I got back when I was a in freshman in college. It only has a 1400 dollar limit.
I need to buy an engine for my car but I don't have enough in my checking account to pay for it, so I need to use the card, but it costs more than the credit limit.
Thanks. sorry for the long question
2007-09-03 09:48:23 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
I'm going to have to add on several thousand dollars. Probably at least 4x my normal limit
2007-09-03 09:58:27 · update #1
Just pay part cash and part credit, the place you buy it from will be willing to accept that more than likely, all they care is that they get paid. Lots of times you can overpay and that will work how you want it to but of course you'll want to receive proof the overpayment was credited to your account either by mail or online (possibly by phone) first. The problem is that some credit card companies will automatically issue a refund check to you when the overpayment is received. I would recommend also calling the number on the back of your card and ask about a credit limit increase, if you've had the card for a little while and it's in good standing they're likely to give you one. Lots of card companies also offer cash advances if for some reason the place you're buying the motor from won't accept a half cash half credit payment. You could also take out another card if you really needed too.
2007-09-03 10:04:41 · answer #1 · answered by Josh 6 · 0⤊ 1⤋
Do you have the other several thousand dollars that you'll need? If so, see if the place doing your engine will take cash for some of the cost, credit card for the rest.
Many credit card companies will just refund an overpayment. For some, doing what you suggest might work. It depends on their policies - you could call their customer service line and ask them.
2007-09-03 10:04:37 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
No. The CC company will just refund you the money.
Try calling the company to ask for a temporary increase to your limit. The worst they can tell you is no.
2007-09-03 10:05:35 · answer #3 · answered by zippythejessi 7 · 1⤊ 0⤋
Most will only allow you to over pay a very small amount.
2007-09-03 09:55:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋