Can you increase your credit limit on a credit card by adding money?

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Posted 6th Dec 2019
The question I want to ask is, if for example, I have a credit limit of £1000 but to hire a car I need to leave a deposit/block the card for £1200, can I just add the £200 to my credit card? Would that increase the limit? If not, are there any ways to do this?

Thanks!
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No you can’t. If you have outstanding balance your only options would be to pay the minimum or the full amount. You can’t put your own amount in.

You could try and send a standing order to it, that might force the extra money on but the CC company won’t like it at all.
Could they not split the deposit off two cards?? £200 off your debit card and £1000 off the credit card?
I've done it before on my Halifax Clarity. Should be ok.
Edited by: ".MUFC." 6th Dec 2019
It worked with me, but to be on the safe side call your card provider
I don’t think they like you adding money to it for security reasons.
I always pay the excessive insurance upfront,great peace of mind if the worst happens you just hand keys back and walk away
It would technically work like an overpayment and would show the account in credit (a minus) however don’t forget the monthly payment cycle on a credit card can be different to a real-time current bank account and might not show instantly. Obviously any outstanding debt on the card will be automatically paid and the account will not go into credit until a zero balance is reached. An overpayment has no bearing on your credit limit, that remains unchanged.
Edited by: "petegaffney" 6th Dec 2019
.MUFC.06/12/2019 07:47

I've done it before on my Halifax Clarity. Should be ok.


Lately?

My clarity card refused to accept a credit last week that would have put me in credit
Pablo14806/12/2019 08:37

I always pay the excessive insurance upfront,great peace of mind if the …I always pay the excessive insurance upfront,great peace of mind if the worst happens you just hand keys back and walk away


In cash?
Overpayment and credit limit are two different things. The limit exists because the bank is not comfortable letting you borrow more. Have you tried asking for an increase in the limit itself? If you have a spotless record of payments, then the limit may be increased.
chocci06/12/2019 08:54

In cash?


I think I paid on my card it was around £200,the list of charges for scratches dinks etc is horrendous
The answer is yes. You can add £200 and then the avalible balance would be £1200. However it would be against the terms of your credit card blah blah blah but im sure a one off would be okay.
Not all block £1200. Some block a lot less. Have a quick check with those you're likely to use. Some however may make you take their stupidly expensive excess insurance to get the lower block.
chocci06/12/2019 08:53

Lately? My clarity card refused to accept a credit last week that would …Lately? My clarity card refused to accept a credit last week that would have put me in credit



Not recently no, however it did let me go into a positive balance.
bigwheels06/12/2019 07:35

Look at part 5, excess cover.Could save you …Look at part 5, excess cover.Could save you thousands.https://www.moneysavingexpert.com/travel/cheap-car-hire/#needtoknow-5


Yes but a big deposit is still required with a 3rd party insurance. £1500 is typical.
joyf453606/12/2019 10:33

Yes but a big deposit is still required with a 3rd party insurance. £1500 …Yes but a big deposit is still required with a 3rd party insurance. £1500 is typical.



At least it would stop you loosing all your money.

Call you credit card and ask if they will raise your limit if only for 2 or 3 weeks.
as others have said, i don't think this will work as your credit limit will not change. if you need more credit, speak to your card provider and explain why you need more credit. they will often be able to increase your credit limit.

i don't do it now, but i used to ask for my credit limit to be increased after i have used the card for 6 months, and then every 6 months afterwards, and i always got an increased limit. it was a way for me to build a bigger credit limit as they can see from my payment history that i am good credit.
Edited by: "mutley1" 6th Dec 2019
winzzz06/12/2019 07:17

No you can’t. If you have outstanding balance your only options would be t …No you can’t. If you have outstanding balance your only options would be to pay the minimum or the full amount. You can’t put your own amount in. You could try and send a standing order to it, that might force the extra money on but the CC company won’t like it at all.


Well not necessarily, I have a tsb credit card and almost all the time have a negitive balance as I just pay round sums into it to account for future spending.
Possibly achievable via refund of previous spend only. Ask @terriclarkfan who recently investigated "I'm told by Lloyds Bank that it's not possible to create a positive credit balance on a credit card" at hotukdeals.com/com…836
AndyRoyd06/12/2019 16:06

Possibly achievable via refund of previous spend only. Ask @terriclarkfan …Possibly achievable via refund of previous spend only. Ask @terriclarkfan who recently investigated "I'm told by Lloyds Bank that it's not possible to create a positive credit balance on a credit card" at https://www.hotukdeals.com/comments/permalink/38726836


I didn't take it any further than that.
I was able to overpay my Tesco credit card by £1000 accidently - I paid it as a separate payment and then the DD came out to take the money too.

I did get a letter from Tesco saying that I shouldn't have a positive balance and that I need to use the money or they will refund if after a couple of months.

So although my credit limit didn't change, my available balance was higher to spend, which should solve your issue.
.MUFC.06/12/2019 07:47

I've done it before on my Halifax Clarity. Should be ok.


Can't pay more than what is owed on Clarity now.
Azwipe06/12/2019 18:19

Can't pay more than what is owed on Clarity now.


Yes just tried, you definitely could a year or so ago.
Thanks everyone for the response! Very informative
joyf453606/12/2019 10:33

Yes but a big deposit is still required with a 3rd party insurance. £1500 …Yes but a big deposit is still required with a 3rd party insurance. £1500 is typical.


Hardly typical. I have never seen it that high. Most are around the £300 mark and some are zero (the ones I use)
chocci07/12/2019 06:01

Hardly typical. I have never seen it that high. Most are around the £300 …Hardly typical. I have never seen it that high. Most are around the £300 mark and some are zero (the ones I use)


Why the heck do you think the OP is asking the question then?
A lower deposit might be required if anyone is silly enough not to use their own car excess insurance . It costs £30 for the year in my case after TCB and saves me many hundreds of pounds on rip-off car hire company insurance charges.

My post above said "Yes but a big deposit is still required with a 3RD PARTY INSURANCE. £1500 is typical."

From some of my recent actual Hires

Thrifty Car Hire
Deposit / Excess Amounts
The rental company will require a security deposit of 1800,00 € when you pick your car up. The deposit will be returned after the rental, as long as all conditions have been met.

AVIS Car Hire Booking
Credit card in the name of the lead driver, with a large enough limit to cover the excess ( EUR 1500.00 )

ALAMO Car Hire Booking
Without these mandatory documents you cannot collect your car
Credit card in the name of the lead driver, with a large enough limit to cover the excess EUR 600.00

XXXXXX Car Hire
We noticed that you didn’t purchase damage refund insurance with your car hire. When you pick-up your car at the counter, the car hire company will block a deposit of up to £2,500 on your credit card. You could lose this deposit if the car is damaged or stolen.
Edited by: "joyf4536" 7th Dec 2019
joyf453607/12/2019 07:26

Why the heck do you think the OP is asking the question then? A lower …Why the heck do you think the OP is asking the question then? A lower deposit might be required if anyone is silly enough not to use their own car excess insurance . It costs £30 for the year in my case after TCB and saves me many hundreds of pounds on rip-off car hire company insurance charges.My post above said "Yes but a big deposit is still required with a 3RD PARTY INSURANCE. £1500 is typical."From some of my recent actual HiresThrifty Car HireDeposit / Excess AmountsThe rental company will require a security deposit of 1800,00 € when you pick your car up. The deposit will be returned after the rental, as long as all conditions have been met.AVIS Car Hire BookingCredit card in the name of the lead driver, with a large enough limit to cover the excess ( EUR 1500.00 )ALAMO Car Hire BookingWithout these mandatory documents you cannot collect your carCredit card in the name of the lead driver, with a large enough limit to cover the excess EUR 600.00 XXXXXX Car HireWe noticed that you didn’t purchase damage refund insurance with your car hire. When you pick-up your car at the counter, the car hire company will block a deposit of up to £2,500 on your credit card. You could lose this deposit if the car is damaged or stolen.


Tldr

You have too much time on your hands lol

Never hired a car with any holding deposit over €300 and I rent 4 times a year on average on holiday
Edited by: "chocci" 7th Dec 2019
Yes you can add money to exceed your credit limit but the extra money won't be covered
cliosport6509/12/2019 00:26

Yes you can add money to exceed your credit limit but the extra money …Yes you can add money to exceed your credit limit but the extra money won't be covered


What do you mean?
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