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We have a vacation trip planned for next year and I will need to make a one-time payment of around $10k, which is over the limit for any one of my credit cards. I don’t want to ask for a credit limit increase or to spread the charge over a couple of cards. I was thinking of pre-paying the $10k so I would have that as credit when I make the charge.
Are there any issues with doing this? I’m guessing I should make the payment about a week or so before I do the charge, to make sure everything clears.
We have a vacation trip planned for next year and I will need to make a one-time payment of around $10k, which is over the limit for any one of my credit cards. I don’t want to ask for a credit limit increase or to spread the charge over a couple of cards. I was thinking of pre-paying the $10k so I would have that as credit when I make the charge.
Are there any issues with doing this? I’m guessing I should make the payment about a week or so before I do the charge, to make sure everything clears.
I don't see the point of pre-paying the ENTIRE $10,000 if you have a $10,000 credit limit. Instead, pay only a few thousand so that even when you charge the $10,000 debt, you won't be over the $10,000 balance limit.
We have a vacation trip planned for next year and I will need to make a one-time payment of around $10k, which is over the limit for any one of my credit cards. I don’t want to ask for a credit limit increase
What IS the limit, and why not ask for an increase?
Quote:
Originally Posted by don6170
Are there any issues with doing this?
My CCs don't let me pay more than what is posted to the account.
We have a vacation trip planned for next year and I will need to make a one-time payment of around $10k, which is over the limit for any one of my credit cards. I don’t want to ask for a credit limit increase or to spread the charge over a couple of cards. I was thinking of pre-paying the $10k so I would have that as credit when I make the charge.
Are there any issues with doing this? I’m guessing I should make the payment about a week or so before I do the charge, to make sure everything clears.
I would call the CC company first to confirm that they'll let you do it. Some might, some might not.
I don't see the point of pre-paying the ENTIRE $10,000 if you have a $10,000 credit limit. Instead, pay only a few thousand so that even when you charge the $10,000 debt, you won't be over the $10,000 balance limit.
I don't have a $10k limit. I think it is around $5k. I do have to make a single $10k payment to the travel agency. I would prefer to do it on my rewards card.
Quote:
Originally Posted by Pitt Chick
What IS the limit, and why not ask for an increase?
See above. I don't want to go through the hassle of a credit limit increase for something that is a one time event.
Quote:
Originally Posted by Threestep2
A pre paid card may not get accepted.
It is not a pre-paid card. It is a regular Citi Visa card.
You know, you COULD just write them a check and be done with it.
If you're struggling with being able to pay for a vacation and have to do all kinds of special manipulations, I'd suggest you can't afford it and ought to plan on something less expensive.
We have a vacation trip planned for next year and I will need to make a one-time payment of around $10k, which is over the limit for any one of my credit cards. I don’t want to ask for a credit limit increase or to spread the charge over a couple of cards. I was thinking of pre-paying the $10k so I would have that as credit when I make the charge.
Are there any issues with doing this? I’m guessing I should make the payment about a week or so before I do the charge, to make sure everything clears.
Get your travel agent to bill $5k, pay that with the card any pay it off, then bill the other $5k. Shouldn't be any issues doing it this way.
I don't have a $10k limit. I think it is around $5k. I do have to make a single $10k payment to the travel agency. I would prefer to do it on my rewards card.
See above. I don't want to go through the hassle of a credit limit increase for something that is a one time event.
It is not a pre-paid card. It is a regular Citi Visa card.
You're still going to have to call Citi and ask if your plan will work.
They may not accept your overpayment.
They may not approve a $10K purchase even if you made a higher payment.
They may not give you rewards on all $10K.
I have customers who make large purchases that are over their credit card limits or daily limits. I will break their total due into 2-3 payments over a few days for them.
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