If I deposit £1000 onto my credit card that has a limit of £500, will I be able to purchase something costing £1500?
You could call your credit card issuer and ask this question. This would be the simplest route. (I’ve tried this and the only way that my particular credit card company would allow this would be if I were to pay through a paper check.) You may be able to request a credit limit increase. The other option would be to put the money in the bank and pay via a debit card. I’d try to get a credit limit increase, however, because credit cards tend to offer more consumer protections than do debit cards.
I done this once with Capital One, they were not impressed!… I think my limit was only about £750 or so (I was only 18 or 19 at the time) and I wanted to buy a decent pair of turntables, new mixer and a load of disco lights and such like. I did call them [Capital One] and said I wanted to make a bigger purchase than my card could cope with and enquired about getting a credit increase, but they said I hadn`t had the card long enough to be able to get an increase and that I should call back in a couple of months… Needless to say, this really annoyed me as I was ordering out of ‘DJ’ magazine and none of the places I was thinking of ordering with were close enough to deal with directly. Anyway, I owed about £50 on the card when I got the statement, So I went to my bank and paid the outstanding balance plus an extra £1000 – the cashier looked confused, but I reassured her everything was fine, for the next two or three days I was calling the automated balance line on a rather regular bas
