Possibly a stupid credit card related question...

[AB]

Booking a holiday with 7 friends, and the flights are approx £500 each. That is £4k for the 8 of us.

I only have a £3k credit limit on my credit card and none of them have anything higher. Obviously we want to pay by CC for peace of mind.

Could I therefore have my friends pay money onto the card so it is in credit and then spend the £4k i.e. we all pay £500 into my CC account, buy the flights and the balance will be £0.

I understand the protection element is due to the fact that you are spending the banks money, so if you are effectively spending your own, does it work?

Cheers

[robemcdonald]

I don't think you're allowed a positive balance on a credit card. The answer is to have a word with cc company and get your credit limit raised.

[Silver993tt]

Why don't you use your credit card and also one from your friends and split the total? The holiday company will accept payment on 2 or more cards

[AB]

I've overpaid my credit card bill a few times and ended up with a positive balance so I was imagining just 'overpaying' by £1k and taking it from there. Could have a word with the CC company, i guess they would be more accommodating if they knew it was being paid off right away.

[AB]

Silver993tt said:

Why don't you use your credit card and also one from your friends and split the total? The holiday company will accept payment on 2 or more cards

It's an online thing - might be worth a call to them to see if we could do that. Good thinking.

[Sarkmeister]

Im no expert but im pretty sure you can have a positive balance on a credit card...

Otherwise what happens when you make a payment to it that is too large?

[jaybkay]

Yes you can have a positive balance on a credit card.

[Baron Von Alders]

Ring them up & ask for a temporary increase in credit for the month. The worst they'll say is no.

Edited by Baron Von Alders on Thursday 29th January 08:17

[Vee]

yes you can pay into a card before spending.

[Asterix]

jaybkay said:

Yes you can have a positive balance on a credit card.

Yup agreed.

I often load my card up for a trips abroad (I'm in Dubai) as I often purchase a number of expensive items that are either overpriced here or not available. I keep a relatively low credit limit but the bank keeps wanting me to up it.

[Silver993tt]

Asterix said:

jaybkay said:

Yes you can have a positive balance on a credit card.

Yup agreed.

I often load my card up for a trips abroad (I'm in Dubai) as I often purchase a number of expensive items that are either overpriced here or not available. I keep a relatively low credit limit but the bank keeps wanting me to up it.

I presume you get paid interest on any credit you have on the card?

[AB]

I would doubt it but thanks very much for the advice people!

[Neil_H]

Are you booking online? Try phoning them, you should be able to pay the balance with more than one card.

[anonymous-user]

Asterix said:

jaybkay said:

Yes you can have a positive balance on a credit card.

Yup agreed.

I often load my card up for a trips abroad (I'm in Dubai) as I often purchase a number of expensive items that are either overpriced here or not available. I keep a relatively low credit limit but the bank keeps wanting me to up it.

If you are in Credit though on your Credit card would that bit be protected? The reason you are protected is effectively when you buy something on a credit card, the credit card company is buying the goods you are then buying the goods from the credit card company, if you are in credit at least part of the payment is made with your money not the credit card companys. So the protection may not apply.

Edited by anonymous-user on Thursday 29th January 10:20

[Asterix]

Silver993tt said:

Asterix said:

jaybkay said:

Yes you can have a positive balance on a credit card.

Yup agreed.

I often load my card up for a trips abroad (I'm in Dubai) as I often purchase a number of expensive items that are either overpriced here or not available. I keep a relatively low credit limit but the bank keeps wanting me to up it.

I presume you get paid interest on any credit you have on the card?

Dunno, never looked - I only load it up just prior to the trip so the money doesn't stay on there for long.

bluequay said:

If you are in Credit though on your Credit card would that bit be protected? The reason you are protected is effectively when you buy something on a credit card, the credit card company is buying the goods you are then buying the goods from the credit card company, if you are in credit at least part of the payment is made with your money not the credit card companys. So the protection may not apply.

Only time I've ever had to use any sort of protection was after booking some SilverJet flights. After going bust I was able to get a full refund through the CC - I think it was loaded up at the time.

Perhaps a quick call to yoru bank/issuer may help.

Edited by Asterix on Thursday 29th January 10:34