Question about credit cards - TD BANK?
I got a credit card not too long ago and I am trying to pay my school fees which is about $1800.
I have $1500 in my bank and my credit limit is $1000.
Does that mean I can still pay the $1500 and borrow $300 from the bank? Or have I gone past my credit limit?
- ?Lv 78 years agoFavorite Answer
The two are not explicitly joined. When you go to pay, you will have to specify that you want to pay $1500 from your bank account and charge the rest to your credit card. If you have $1500 of your own money in your own bank account that's different from the $1000 you can spend on your credit card.
- SGEliteLv 78 years ago
Yes, the bank will loan you $300 out of the $1,000 credit limit you have.
However, it is advisable to request the bank to deduct $1,500 from your account and to charge the $300 from your credit card credit entitlement prior to the transaction.