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Increase credit card limit

  • 09-11-2015 4:48pm
    #1
    henke
    Registered Users, Registered Users 2 Posts: 2,359 ✭✭✭


    Hey,

    Might seem like a stupid question. If I have a credit card with a limit of €650 and transfer €200 from my account to it, resulting in the card being in credit, would that effectively increase the limit of the card allowing me to make a purchase of €850 on the card?

    Cheers.


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,504 ✭✭✭✭coylemj


    henke wrote: »
    Might seem like a stupid question. If I have a credit card with a limit of €650 and transfer €200 from my account to it, resulting in the card being in credit, would that effectively increase the limit of the card allowing me to make a purchase of €850 on the card?

    Yes, the credit limit specifies how far into the red you can go so in your example you would have €850 headroom to spend - from +200 to -650.


  • #3
    deathtocaptcha
    Registered Users Posts: 349 ✭✭deathtocaptcha


    henke wrote: »
    Hey,

    Might seem like a stupid question. If I have a credit card with a limit of €650 and transfer €200 from my account to it, resulting in the card being in credit, would that effectively increase the limit of the card allowing me to make a purchase of €850 on the card?

    Cheers.

    Yes.


  • #4
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,731 ✭✭✭GerardKeating


    henke wrote: »
    Hey,

    Might seem like a stupid question. If I have a credit card with a limit of €650 and transfer €200 from my account to it, resulting in the card being in credit, would that effectively increase the limit of the card allowing me to make a purchase of €850 on the card?

    Cheers.

    Yes. But beware (with some /many) Banks, if "someone" compromised your card and say fraudulent transactions to the value of say 800 euro were done on your card. You would only get back 650 (your credit limit) rather than the 800 taken.


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