Can I prepay my credit card so I can spend more?

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Can I prepay my credit card so I can spend more?

Postby jfish » Wed Oct 24, 2012 11:32 pm

Sorry if this is a stupid question.

I have a business worldpoints credit card with $5k limit. However my business daily expenses are around $5k+ and i want to use my credit card for this instead of my debit card.

Can i transfer to my credit card for example $50k from my bank account so i could use them on my credit card or is prepaying/positive credit a bad thing/not allowed?

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Postby cashback » Fri Oct 26, 2012 1:50 pm

Nothing concrete in this answer, but I don't think they would allow that much money to be prepaid. Credit card companies don't like to owe you, it's supposed to be the other way around lol. Have you called them and asked for a credit limit increase? Explaining to them your situation?
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

Exp 772 - TU 781 - Equ 781

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Postby circle_k » Fri Oct 26, 2012 4:05 pm

Sending a $50k payment when CL is $5k will throw up a serious red flag. Internally credit card companies don't like over-payments even with the overpayment is by error. Two common errors are sending payment twice and sending payment to the wrong card. I have a friend who sent an accidental $300 payment to an account he didn't owe money on and they promptly sent him a refund check without him even asking. What you are talking about is a huge overpayment and you might get away with it one month but several months in a row, the FBI will most likely be investigating you for money laundering. I would strongly suggest reviewing your cardholder agreement and calling the bank before proceeding as such an action may result in your account being closed for misuse.

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