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31

You had a $35.50 credit for whatever reason. You got the statement, paid another $35.50, now have a $71 credit. Go fill up the gas tank a couple times and don’t worry about this. (Note: for those of us who use the card regularly, these credits, the potential of the bank owing us money, doesn't last long.)


29

Ultimately, in order to answer this, you need to check your cardholder's agreement, and/or call your issuing bank and ask them. Card behaviors around credit balances and purchases larger than your limit will vary from bank to bank. Most banks will be happy to let you carry a credit balance (after all, that's essentially you lending them cash for free), but ...


7

Most credit cards (at least here in the US) do have the concept of temporarily raising a credit limit for a purchase. It's always by request, and there's no guarantee of approval, so you would have to try and see. If the amount is grossly different from your current limit it will probably be a challenge unless your credit score and income have dramatically ...


7

Pros of Saving Points When you do decide to redeem them, you won't have to worry about meeting the minimum threshold. If there are "specials" for redeeming (like getting discounted gift cards) you'll be positioned to take advantage of them. It might feel better to be getting "more" all at once This doesn't sound like it applies to you, but for some point ...


7

Safe? No. Your 'authorized user' can simply call the credit card company and say he never got the card. They will ask him some personal data for verification (but obviously, he knows his name, address, and SSN), and he can change the delivery address and get a new card mailed, or write down the credit card number and use it online. Then he racks up the ...


6

I'm not sure about EU laws specifically, but as far as I know merchants can definitely discriminate between credit card issuers. I also do not see any official way to have AMEX contact a merchant to try and get their cards accepted. The best way to get that changed is to simply tell the merchant (at checkout or in some "tell us how we did" review). The ...


4

If your current balance is $180, many banks won't let you pay $200. And, at any rate, from an obligation standpoint, a current balance of $180 means you owe $180, and once you've paid that off, you have no obligation. It doesn't matter if your statement says you owed $200 or $20,000; if the current balance is $180 you only need to pay $180. In other words: ...


4

Unfortunately, the hard-truth answer to your question is it depends because different issuing banks can have slightly different policies for reporting data to the credit bureaus. So, if you want the literal answer for a specific bank, you should call them and ask. However, in a general sense, the process of submitting data to credit bureaus isn't inherently ...


4

Typically, that does not work. Calling the bank might give you different info, but there is a risk that it won't work, even though the bank explicitly confirms it (happened to me, BoA). At the end, the original credit limit of the card applies, even if you overpay it with a million. You can try to call and ask for a limit increase, even only temporarily; ...


3

Yes, you're required to pay the Minimum Payment Due. However, you're never required to pay more than the actual Balance Owed. This may not make sense in the Internet age. But the concept of a Statement Balance is rooted in the tradition of mailing statements: That is why "billing cycles" exist. Traditionally, you would be expected to keep track of ...


3

No, you will not get charged a fee by either bank for paying your card off in this manner. Sometimes there are extra perks for having a checking account and credit card with the same institution, but never a fee just for using different banks and paying between them.


3

Is there anything more I can do? Make and follow a budget. (The fred_do_u answer is more than adequate in showing you how to do that.) Live below your means. Apply all your extra cash to the debt. Use the Debt Avalanche method (more efficient) or the Debt Snowball method (can be more emotionally satisfying). We had $32K of CC debt, and that's how we ...


3

In contrast to @ChrisInEdmonton's credit card, my credit* card does allow such charging. It does have additional spending limits per purchase/per day etc, so I'd probably have to ask my bank to raise the limits for the foreseen transaction. * I'm in Germany, and my credit card (like many credit cards over here) look from the outside (e.g. the store where I ...


3

As others have said, it depends a lot on the card issuer (and country), and by experience, it can vary with time as well. I used to put a very large credit balance on one of the Amex cards I had, in order to have the ability to pay amounts much larger than the credit limit on that card (I wanted to use that specific card for some miles-related reason I don'...


3

If you have some flexibility in when you can start the course, here's what I would do with your $1,200 surplus: Wait 4 months, pay off card B completely, then pay for your course with cash. Anything else is playing with fire. All it takes is one "emergency" that prevents you from making a full payment, and you're paying much more interest that you could if ...


2

which of the following is a better estimate of my credit card utilization ratio: 0% This one: the credit scoring companies only know what the banks tell them, and -- in my experience -- they only after a billing cycle. Thus, if your balance is $0 on the statement date, that's what they tell the credit bureaus. Two of my own recent observations: 1 - ...


2

I'm assuming the context for your question is a checking account in the US with a debit card, and you know the BIN on the debit card and are trying to determine the ABA routing number for the checking account. Unfortunately, the answer is no - there is no inherent relationship between BIN and routing number, and there are inconsistencies from bank to bank ...


2

It all depends on how you received the cash back reimbursement of $20. With some credit card companies, the website tells that you have $20 available as cash back and offers the options of (a) getting a check in the mail for $20, (b) having the money credited towards your credit card balance, (c) getting a gift card usable at a specific merchant's store (in ...


1

If you intend to avoid using credit cards, that leaves cash and the requirement to manage it carefully. Of course, whatever method you choose to use to manage your money, willpower is a must. As a youth, I followed a self-created program that I later learned was called the envelope method. Mine was a virtual envelope system based on my checking account (...


1

It's really hard to give general answers to questions that present such specific scenarios, because the method your issuing bank uses to calculate balance and interest may be different than what we guess at, in ways that have big impacts on your result. You may also not be aware of details that make an impact: Is there a grace period on new purchases on ...


1

I don't think that any bank will issue a credit card solely to a minor (I suspect it isn't legal, but they wouldn't want an unsecured debt against a minor anyway). One option that I've seen is to open a joint credit card account with them with a low maximum (https://www.creditcards.com/credit-card-news/what-is-the-minimum-age-to-be-an-authorized-user.php ...


1

I'm not really clear why you don't just use a Visa Debit card for this purchase? I use Visa Debit for expensive purchases like long-haul international flights, hotels and health spas or whatever. It's really easy - I just transfer $12k or so into that account and then start spending. You can just put your $16k onto a Debit card and pay that way. There are ...


1

I have an upcoming purchase that will be just over $2000, and recalled this question. I tried to pay $2000 more than my balance on my card, and this is the note I got back via email. Now, I did try to pay it directly to the card issuing bank. I don't (yet) know what they'd do if I made a payment via ACH through my own bank. So for this type of situation, I'...


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