Temporary Increase Limit for high value transaction

[YSanghi]

I need to make an international payment for exam registration of around ~1 Lakh rupees. The vendor only supports credit card payments at this time.
I have a SBI cashback card with limit of Rs. 61,000, Kotak league platinum with limit of Rs 38,000 and IDFC millennia credit card of Rs. 25,000.
Can i pre-emptively pay the bill for any of these cards to get a higher credit limit. I just need to make the one transaction and after that i am fine with whatever limit? If not, are there any other cards that will provide fast approval and have a limit greater than 1 lakh.

 

[vaibhav111vaibhav111 is verified member.]

I need to make an international payment for exam registration of around ~1 Lakh rupees. The vendor only supports credit card payments at this time.
I have a SBI cashback card with limit of Rs. 61,000, Kotak league platinum with limit of Rs 38,000 and IDFC millennia credit card of Rs. 25,000.
Can i pre-emptively pay the bill for any of these cards to get a higher credit limit. I just need to make the one transaction and after that i am fine with whatever limit? If not, are there any other cards that will provide fast approval and have a limit greater than 1 lakh.

try this.. pre pay the amount and total credit limit would increased for example sbi 61k to 62k if 1000 rs is added.. now you would need to pay 1000rs and you should be able to spend 62k.. that my insight that how it should work but there are thing like SBI can blocked cause it international so do it in the morning/evening of working day. kotak and IDFC won't are very far from 1 lkahs.. wait for more experience person to reply.. this came to mind so i have shared..

 

[Walter White]

try this.. pre pay the amount and total credit limit would increased for example sbi 61k to 62k if 1000 rs is added.. now you would need to pay 1000rs and you should be able to spend 62k.. that my insight that how it should work but there are thing like SBI can blocked cause it international so do it in the morning/evening of working day. kotak and IDFC won't are very far from 1 lkahs.. wait for more experience person to reply.. this came to mind so i have shared..

SBI overlimit charge laga dega. SBI doesn't allow you to pay more than your credit limit in normal cases.

 

[V G]

You wouldn't be able to pay more than credit limit as maximum limit available for single international online transaction is equal to your credit limit. You can make payment in parts.

 

[Rahul Gupta]

try this.. pre pay the amount and total credit limit would increased for example sbi 61k to 62k if 1000 rs is added.. now you would need to pay 1000rs and you should be able to spend 62k.. that my insight that how it should work but there are thing like SBI can blocked cause it international so do it in the morning/evening of working day. kotak and IDFC won't are very far from 1 lkahs.. wait for more experience person to reply.. this came to mind so i have shared..

Because of overlimit facility it allows around 10-20% above card limit but it won't allow 39k difference on 61k limit card.

 

[Rahul Gupta]

I need to make an international payment for exam registration of around ~1 Lakh rupees. The vendor only supports credit card payments at this time.
I have a SBI cashback card with limit of Rs. 61,000, Kotak league platinum with limit of Rs 38,000 and IDFC millennia credit card of Rs. 25,000.
Can i pre-emptively pay the bill for any of these cards to get a higher credit limit. I just need to make the one transaction and after that i am fine with whatever limit? If not, are there any other cards that will provide fast approval and have a limit greater than 1 lakh.

Use a International debit card or some prepaid card like payzap if accepted.

 

[asahi]

I need to make an international payment for exam registration of around ~1 Lakh rupees. The vendor only supports credit card payments at this time.
I have a SBI cashback card with limit of Rs. 61,000, Kotak league platinum with limit of Rs 38,000 and IDFC millennia credit card of Rs. 25,000.
Can i pre-emptively pay the bill for any of these cards to get a higher credit limit. I just need to make the one transaction and after that i am fine with whatever limit? If not, are there any other cards that will provide fast approval and have a limit greater than 1 lakh.

You can mail/call your bank for a temporary raise in credit limit quoting your requirement especially idfc bank, they themselves added this clause in their terms & conditions. So Good Luck.

 

[asahi]

I need to make an international payment for exam registration of around ~1 Lakh rupees. The vendor only supports credit card payments at this time.
I have a SBI cashback card with limit of Rs. 61,000, Kotak league platinum with limit of Rs 38,000 and IDFC millennia credit card of Rs. 25,000.
Can i pre-emptively pay the bill for any of these cards to get a higher credit limit. I just need to make the one transaction and after that i am fine with whatever limit? If not, are there any other cards that will provide fast approval and have a limit greater than 1 lakh.

If you wantt the quickest method , most of the banks issuing CC’s on FD’s so create a FD, get card instantly, make the transaction, pay card bill then cancel the card & revoke your FD, remember banks at most gives 90% of your FD amount as credit limit so, calculate accordingly & create FD. SBM Bank gives 100% FD amount as credit limit.
My suggestion after paying the fees or something like that, don’t close card immediately, wait at least for one billing cycle then close. Then There will be no issues in case of refunds etc.

 

[Deleted member 11974]

If you wantt the quickest method , most of the banks issuing CC’s on FD’s so create a FD, get card instantly, make the transaction, pay card bill then cancel the card & revoke your FD, remember banks at most gives 90% of your FD amount as credit limit so, calculate accordingly & create FD. SBM Bank gives 100% FD amount as credit limit.
My suggestion after paying the fees or something like that, don’t close card immediately, wait at least for one billing cycle then close. Then There will be no issues in case of refunds etc.

this wont be possible
as one card has a early closure fees
and opther banks would also be having the same

 

[Deleted member 11974]

I need to make an international payment for exam registration of around ~1 Lakh rupees. The vendor only supports credit card payments at this time.
I have a SBI cashback card with limit of Rs. 61,000, Kotak league platinum with limit of Rs 38,000 and IDFC millennia credit card of Rs. 25,000.
Can i pre-emptively pay the bill for any of these cards to get a higher credit limit. I just need to make the one transaction and after that i am fine with whatever limit? If not, are there any other cards that will provide fast approval and have a limit greater than 1 lakh.

banks have stopped allowing parking funds to increase the credit limit
max allowed would be 5% above credit limit and that too will be refunded within 48 hours to a bank acc
try to see if you can split your payments into smaller ones or ask sbi to allow you to spend over limit
they might charge a fee for this
or do the transaction on someone elses card