The credit limit is the amount your card can go into debt (the level of credit provided).Say ones credit limit is €6k, can one lodge €2k into it (bill is currently cleared) and would that mean you could use the card for transactions up the the value of €8k
In our case the preloading above the credit limit was for a single purchase so was an unusual transaction (although it was a student CC at the time with a CL of approx €1000 or so for a purchase of €3000 - approximate figures as a few years back).Going to ring the bank to tell them what I am doing though so there is no transactions declined if I hit €6k when I know there is €8k.
Bear in mind that if you lodge, say, €2K with the intention of using this for cash withdrawals (not advances) then any other transactions on the card (e.g. meals, accommodation etc.) will eat into this cash balance assuming that the retailers post the transactions fairly promptly.We are going on holiday on the 26th so I just want to make sure all funds to keep a family of 4 going are in order and hiding my cc until the 26th so we will use that for the 10 days of the holiday.
Mag, just for clarity as you may not be aware.....Bear in mind that if you lodge, say, €2K with the intention of using this for cash withdrawals (not advances) then any other transactions on the card (e.g. meals, accommodation etc.) will eat into this cash balance assuming that the retailers post the transactions fairly promptly.
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