Car insurance question

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Jimbob89

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James
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A little OT i know but i thought there may be someone who can help.

I am about to take out a new policy, as its an obscene amount of money due to my age (£1000+). I wanted to split the payment over two cards and they said this was not possible? One is a debit card, the other is a credit card. But they said they could not split over any cards? It must be a single card/single payment.

Do not want to wait until payday to get up and driving :thumbsdown:

Has anyone ever paid for their premium in this way? Is it allowed by some and not others? Insurance company in question is Elephant.

Thanks!
 
Can't help with your specific query but why not withdraw the cash from the account linked to the debit card, pay into the cc account and pay the insurance?
 
Slimbert said:
Just make a payment on your credit card from your debit card and pay the full amount on your credit card.
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Credit card has a limit on it at the moment, which can't be lifted (Again, due to being young :thumbsdown: )

Hacker said:
Can't help with your specific query but why not withdraw the cash from the account linked to the debit card, pay into the cc account and pay the insurance?
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I rang Barclays inquiring if it was possible to do this (Before starting the thread) and they said i am not allowed :shrug:
 
What on earth are you driving? is it a Supercharged Aston Martin or maybe a Lamborgini?

My insurance with Sainsburys is under £300

Realspeed
 
James

Little tip

Don't stay with the same insurance company each year, the first time of taking out a policy is the "hooker". Once they think they have got you up goes the premium

I strongly advise you look around at similar car insurance with other companies, you might be suprised.


Realspeed
 
This is the cheapest quote i could find at the moment, having shopped around :crying:

I don't mind paying it, i just can't pay it how i would like :LOL: Honestly didn't think it would be a problem paying over two cards!
 
Jimbob89 said:
Credit card has a limit on it at the moment, which can't be lifted (Again, due to being young :thumbsdown: )
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You can be in credit on a credit card.

Just make a payment so you have enough of a positive balance to add to your credit limit to cover the payment. I'm not aware of any fines for doing this in the short term. One or two lenders don't like it over long periods though.
 
James

Pay off some of your credit card balance with the amount you wanted to pay via your debit card then pay the full amount on your credit card (which has been per-charged via our earlier deposit.)
 
To do this do i go to "Pay your card bill"? And simply pay the amount i wanted to cover on the debit card?

I don't owe anything on this credit card, i am just wondering if i go to the trouble of doing this, will they authorise the full payment (Which is £1005) even though my card has a limit of £400?

Thanks!
 
Jimbob89 said:
To do this do i go to "Pay your card bill"? And simply pay the amount i wanted to cover on the debit card?

I don't owe anything on this credit card, i am just wondering if i go to the trouble of doing this, will they authorise the full payment (Which is £1005) even though my card has a limit of £400?

Thanks!
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I'm not suggesting this with any inside knowledge of the finance industry or credit cards, but I've been in credit on a credit card before and simply bought something to bring the balance back down to zero.

You might want to wait for someone who works in finance to clarify it before going ahead, but I genuinely can't see any problem with doing it this way. If £1005 is available on you account, then you should be able to make a purchase for that amount.

I do know some companies don't like customers doing it over longer periods, say a month or more, but I'm not sure why tbh.

You could always ring your credit card company and ask what will happen if you did do this, or ask for an explanation why it would not be possible/allowed. You'd be no worse off by asking.
 
Jimbob89 said:
To do this do i go to "Pay your card bill"? And simply pay the amount i wanted to cover on the debit card?

I don't owe anything on this credit card, i am just wondering if i go to the trouble of doing this, will they authorise the full payment (Which is £1005) even though my card has a limit of £400?

Thanks!
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I would think that the automated checking system at your credit card company would reject the transaction simply because it exceeds the limit on the card irrespective of how much is actually in the account.

I could be wrong though. I'd ask the credit card company before doing this or you might have problems getting the excess balance back from them quickly.
 
Sorry, forgot to mention......

Yes, with Barclaycard (I have one) just log in to your account and "make a payment" using your debit card. In a day or so your available balance should have changed and you should be able to make the payment in full using only your credit card.

Please check further before doing it though. I don't want to get you in a mess with your CC company!
 
Thank you all for the advice. I will ring Elephant customer services tomorrow morning to see if they can help me out, then i'll ring Barclays to see if they can and report back.
 
Jimbob89 said:
Thank you all for the advice. I will ring Elephant customer services tomorrow morning to see if they can help me out, then i'll ring Barclays to see if they can and report back.
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Expect a long wait on hold! Elephant call centres are awful :(
 
rssmrry said:
Expect a long wait on hold! Elephant call centres are awful :(
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I rang their new policy line and went straight through, not paying premium rate!

An update anyhow. A very nice lady allowed me to pay off my deposit today and remainder of my policy within 14 days. So i'll be back on the phone in a bit to pay the remainder off!

Thanks for the advice!
 
I think you'll find that it's against the terms and conditions of you credit card to put in into a positive balance i.e. where they technically owe you money....and that it's more than possible that they will still reject your transaction because it's great than your credit limit, be forewarned it could flag up under anti money laundering checks (I doubt it would for the amounts suggested but it is always a risk ;))
 
Re putting your credit card account into credit..... this will be possible on some accounts but not others.

I work for a 3rd Party electronic payment processor and look after a fraud prevention tool that will decline certain transactions. Some clients have rules in place that won't allow an account to go into credit.

There are other parameters that come into play that may be set to do the same thing so it might be best to speak to your card company first.
 
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