Credit card query

Candystore

Candystore

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I am sorry if people think my question is a stupid one.

My credit card limit is R20 000 and the credit is all used up, so the balance on the card is also R20 000. If I pay R30 000 into the account, does that then mean I will have R30 000 credit on the card to use, or only R30 000 minus the balance (debt) of R20 000, in other words R10 000 to use?
 
You'll have R30 000 available to use again. You just won't be paying interest on the positive balance.
 
Candystore said:
I am sorry if people think my question is a stupid one.

My credit card limit is R20 000 and the credit is all used up, so the balance on the card is also R20 000. If I pay R30 000 into the account, does that then mean I will have R30 000 credit on the card to use, or only R30 000 minus the balance (debt) of R20 000, in other words R10 000 to use?
Click to expand...

Your question is not stupid. How you are managing your money, is.
 
Candystore said:
I am sorry if people think my question is a stupid one.

My credit card limit is R20 000 and the credit is all used up, so the balance on the card is also R20 000. If I pay R30 000 into the account, does that then mean I will have R30 000 credit on the card to use, or only R30 000 minus the balance (debt) of R20 000, in other words R10 000 to use?
Click to expand...
Your 20K balance, is it a positive or negative balance?
 
Surv0 said:
besides stating the obvious (in a credit card thread) the above is a stupid comment, there are a ton of reasons resulting in the need to take up this credit quickly, no matter your financial planning ability or foresight.
Click to expand...

From the OP, it is clear that this is an ongoing trend, not a once off.
 
MightyQuin said:
From the OP, it is clear that this is an ongoing trend, not a once off.
Click to expand...

Not sure why you choose to lecture me. I asked a question about the workings of the credit card. I am far from perfect, but no need to go off on me about it. A lot of people have credit.
 
MightyQuin said:
From the OP, it is clear that this is an ongoing trend, not a once off.
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Why do you say that?

Just the fact he is asking a question relating to the repayment of this credit, shows that this isnt a trend or ongoing trend, seems more like a once off, and has never done something like this before.

Dont assume to know their financial position, or any position for that matter and your answers and judgement on this matter are completely nonconstructive to the initial question.

'Trolling' would be apt.
 
OP would be able to use the full R30 000 , in terms of technicalities he would then have R20000 credit, and R10000 capital.

Any purchases would go off against the capital amount first and thereafter the credit amount. Some banks will pay interest on the R10 000 ,just depends on which bank you use.
 
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