A New Question about Visa Cards

supertall

There have been a few credit card threads here in the last little while, but my question is a little different.

My Visa is a student card, capped at $1000. I want to buy something for about $1300. If I transfer money onto the card to put it at a negative balance, would it be possible to run that through? Or will it see that 1300 > 1000 and deny it automatically?

I know I should just go into my bank, but I was hoping someone might be able to save me a long trip.

Staxeon

I've never heard of carrying a negative balance on a credit card that high.

Where are you buying from? If its a brick-and-morter shop they should let you pay with two forms (the 300 in cash and the 1000 on the card).

Lewisham

My bank's Visa card lets me do this, but I'm in NZ.

Just call the credit card company.

ihmmy

I second the call and checking. I get a balance like that when I overpay a bit (which has happened, oh, twice ever) but not by that much, just $20 or so

Aridhol

Every (brick and mortar) store in the world allows you to pay by as many means as you want (within reason).

Also Visa is generally excellent about upping your limit (even temporarily) if you have a good history so I'd call em up.

Thanatos

Call the number on the back of your Visa card and ask for a limit increase.

onceling

I've done this before, so its technically possible. You can often check your "Available balance" on a card via internet banking. This will show you if you have $1300 available after the transfer.

However, its likely that if you aren't regularly making purchases that large, the security settings on the card might block the transaction anyway. Typically, this is a pain in the ass. Depending on the situation, the card company may call you (depending if you have a cell on file), the clerk may get a phone number to call, or you may just have to be denied.

Best to phone first and tell them you're about to make a big transaction. Since you're already on the phone with them, you can also verify this will work and by the sounds, ask for a limit increase at the same time if you want.

HiredGun

Everyone has already said it, but just to reiterate: call them. It's easier than using two forms of payment or trying to fool your card with a negative balance. Plus it solves the potential security flags that people here have already mentioned.

VThornheart

Aye, and they're usually MORE than happy to increase the limit... because when you ask, that means you'll be using it for sure... and the Credit Card companies LOVE that. Remember, even if you pay it off immediately, they still get 2-3% of the purchase from the vendor himself.

Paying a phone representative to answer calls - 10 dollars per hour.

Cost of changing your information to increase your credit limit: 0 dollars.

An extra 2-3% of 300 bucks that they wouldn't have gotten otherwise, and possibly more if you use the new credit limit multiple times? Priceless.

Improvolone

They love giving increases. I have a Visa student card aswell.

supertall

Thank you for the advice everyone. I feel a little foolish now. I hadn't even considered asking them to raise my limit; I assumed that student cards were limited to the original amount.

And just in case anyone was curious, I'm using it on an employee purchase form that gets faxed to a vendor, so paying part with cash and the rest with credit isn't an option.

VThornheart

No worries! Not many people know that you can ask them for a limit raise I think... most card companies don't outright advertise it. I learned that you could do this once when one of my credit cards was automatically (i.e. I didn't ask for it) doubled in spending limit. I called to ask why, and they not only tried to talk me out of getting it lowered again (I didn't trust myself with that kind of limit), but they offered to increase it AGAIN. I'm surprised that more companies don't make it public knowledge though... I mean, it's basically printing money for them, so everyone wins... well, at the least they win.