Overloading Credit card to use extra limit on a single spend.

[phoenix99]

Hello Everyone,

I am new here and have taken my first CC - Amazon Pay ICICI CC. I have a spend that is 20K more than my credit limit. Can I over pay my CC bill for this month by 20K and utilize it in next month using my CC for the purchase and will I get full rewards for that purchase on Amazon.

I may be completely wrong in terms of over loading my card, if you have any other work around in this regard would be really helpful.

Thank You in advance

 

[amitvicky]

1. You can overpay, no bank stops you, but you will not earn any interest on that money.

2. Your can max transaction is based on the current outstanding balance or total limit, which ever is lower.

3. If you over pay and think bank will allow you to swipe more than limit then this is incorrect
This is called over limit function and will work irrespective you already have that extra amount in the CC balance.

 

[abhimarda]

Hello Everyone,

I am new here and have taken my first CC - Amazon Pay ICICI CC. I have a spend that is 20K more than my credit limit. Can I over pay my CC bill for this month by 20K and utilize it in next month using my CC for the purchase and will I get full rewards for that purchase on Amazon.

I may be completely wrong in terms of over loading my card, if you have any other work around in this regard would be really helpful.

Thank You in advance

If the entire spend is single transaction then bank may not allow amount exceeding the limit. However, if it is multiple transactions, then first your credit balance would get adjusted and then your limit so should go through till all the transactions are below full limit amount.

 

[phoenix99]

1. You can overpay, no bank stops you, but you will not earn any interest on that money.

2. Your can max transaction is based on the current outstanding balance or total limit, which ever is lower.

3. If you over pay and think bank will allow you to swipe more than limit then this is incorrect
This is called over limit function and will work irrespective you already have that extra amount in the CC balance.

Understood Thank You for the clarification

 

[phoenix99]

If the entire spend is single transaction then bank may not allow amount exceeding the limit. However, if it is multiple transactions, then first your credit balance would get adjusted and then your limit so should go through till all the transactions are below full limit amount.

Thanks that's a helpful tip