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Is it possible to buy something that costs more than your credit limit?
Zoolander
Registered User regular
Registered User regular
So I'm looking to make a large purchase, and there is no payment option but credit card. Unfortunately my credit limit is smaller than the cost of the purchase.
I have enough money in my bank account to make that purchase though. If I put the money on the credit card before I make the purchase, would that transaction go through?
I have enough money in my bank account to make that purchase though. If I put the money on the credit card before I make the purchase, would that transaction go through?
Zoolander on
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Do you (or can you get) a debit card linked to your bank account? In most cases, a debit card will be backed by Visa or MC and will allow you to use it like a credit card.
Also, you could try putting it through. You can usually overextend your credit limit by a certain amount (though I've never really been clear on how that works).
PSN: TheScrublet
I always pay my credit card on time, so I'm sure I would qualify for a credit limit increase. But the purchase I am looking to make is several hundred dollars above my credit limit, so it's kind of extreme.
edit - oh, and it goes on my credit report.
What is this large purchase that is more than your credit card can cover, why are you making this large purchase, and why is it important that you have it Right Now?
Because I'm seeing a setup for future H/A threads entitled "OH GOD I'M IN DEBT AND SCREWED."
Humour me?
Can trade TF2 items or whatever else you're interested in. PM me.
I'm buying an international airplane ticket for a trip in three months. Don't worry about debt, as I said I have plenty of money in my bank account to cover it.
You could also as a last resort buy a pre-paid credit card with a check/cash, then pay it with that; I think there are places that sell them in larger amounts, and if you do it at a bank they can probably do a specific amount
http://usa.visa.com/locators/gift-card-locations.jsp
Fair enough, and thanks for the response. Call me jaded by typical H/A threads but I was expecting "I need to buy a 103" plasma HDTV for the World Series right now" or something similarly asinine.
Have you tried calling the airline to ask them about a bank-to-bank transfer? Given that you're buying an airline ticket and not something from another person I'd be less wary about using that method.
Failing that, call your CC company - if you've got good credit and give them a reason "I need this for a plane ticket, I have the money in my account to pay for it (especially if it's your bank's card) - that's probably your best chance.
Can trade TF2 items or whatever else you're interested in. PM me.
Christ, what's your limit? Every time my limit has been raised it's been thousands of dollars more than the old one.
Just ask for the limit to be raised. If you've been good about paying your bills they will be thrilled to do this and salivate at the prospect of you giving them more money.
EDIT: I don't actually care what your limit is and obviously you shouldn't say. That question was rhetorical.
Well I'm fresh out of university and I guess my bank is extremely stingy with credit. It's a Canadian bank if that makes any difference.
I will definitely call them and see.
If that doesn't work, no harm, no foul. See about getting a reloadable visa/mc. They're popular now a days. You basically buy it like a gift card but it's not tied to a store and instead it's just a Visa or MC with $XXX.XX loaded on it.
If THAT doesn't work then see if the airline's site allows for paying by paypal or something then just transfer from you bank account into your paypal account and then pay it.
Lastly you could get a Debit card for your checking account as it's the year 2009 and I don't know anyone over the age of 15 that doesn't have a debit card. This is the last choice, it's the best solution, but will likey take a week or so for your card to come in the mail.
Does your debit card have a Visa or MC logo on it?
It may be a US thing, but nearly all debit cards here also function as a Visa or MC.
edit: yeah, a quick Google seems to indicate that -- at least as of early this year -- Visa/MC debit cards weren't offered in Canada, so this likely isn't an option for you.
What you can do is ask them to raise the limit on your credit card as advised by others. If it's by a considerable amount, they might only be willing to raise it temporarily. I've done this when going on holiday before. They may also want to see evidence that you'll be able to pay the greater amount, so explaining that it's a one off purchase and that you have the money in your bank account to pay the bill virtually instantly and can provide evidence that the money exists should be sufficient to get the limit bumped up for 30 days.
EDIT: just to clarify, I do keep a $0 balance
Seriously, even in Canada credit increases are insane. My first credit card was $2400 limit and in the 8 years or so I've had it, it's been raised by $2000 twice without me even asking. Just call and ask for them to raise the limit already!
You could call the credit card company first, but it really shouldn't be necessary.
If you ever need to talk to someone, feel free to message me. Yes, that includes you.
Yeah, nobody brought it up because he mentioned that he had more than enough money in his bank account, he just has a card with a low limit, and the only method of payment they take is credit card.
The way i work around it is to pay half with the debit card and half with the credit card. This gives me a maximum chargable limit of 2000 dollars which should cover almost anything. Not sure if it will work with expedia though. Do they have an option to pick up the tickets early and pay at the counter?
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Yeah, in those cases you have to call them and have them temporarily raise the limit to whatever you need.
Called up and they ask you a couple questions like how much you make at your job how long your working there. It should take no time at all.
However I have had a friend who tried to do this one with his AmEx and they froze his account. He then cancelled. For reference I do this all the time with my Visa and it works fine.
Satans..... hints.....
I agree, most credit card companies are generally giddy at the prospect of people spending more money and thus netting them more fees (credit card companies charge retailers a percent fee on every purchase made through their network, on the reasoning that they 'enabled' the sale; even if you never pay a dime in interest, if you spend a lot on your card, you've made them money). You can probably get your credit limit raised within about an hour by contacting them by phone or through whatever web tools they offer you.
Cards also have various behaviors on what happens when you hit your limit. Most will happily accept one or two overcharges while socking you with an outrageous fee. Occasionally they will instead raise your credit limit, some will reject the charge outright, and some business cards will bounce the charge but allow the cardholder to call in and authorize it.
That said, my credit card allowed me to pay $1000 more than I owed when I picked up my macbook, but I'm not sure if my limit went up $1000 because of it (I only did it because I wanted to make sure I didn't spend the money before the charge went through.) So YMMV, basically my macbook came to $1700, I had a credit card balance of -1000, so when it went through I had a balance of $700, I'm just not sure if it would have allowed me to charge the extra $1000 in the same transaction though.
The thing they are talking about with the Logo's doesnt exsist in Canada fyi. So their info wont work for you/ or me. :P
Also, I called CIBC once to get my credit raised, and I didn't even talk to a person. Just an automated service that asked how much a year I made, and how much I wanted to raise my limit. I was honest, and modest, so it worked and my limit was immediately raised, but you could easily lie like crazy. Maybe yours has the same function.
Glad it worked out for you.