Does anyone know if you can earn points with positive balance on credit card? For example I have a credit card limit of $1000 and I transfer $5000 to it and spend $6000. Will I get $6000 worth of points?
Thanks.
Earning Points with Credit Card While in Credit?
noone on 16/03/2020 - 15:54
Last edited 16/03/2020 - 16:03 by 1 other user
Last edited 16/03/2020 - 16:03 by 1 other user
Comments
Great! Thanks :)
Depends on the card
I have 2 points earning cc's
Bank 1 : Do not earn points on balances spent that were not "credit" as in positive balances
bank 2 Does pay points on positive balances.Check the terms of the card you have/are getting
The card issuer charges the fee to the retailer based on whatever amount you spend on the card. Whether or not you get points is based on whether they can charge the retailer this fee. In this case, they'll charge the fee on the whole $6,000, so you will get points.
When I bought a motorbike on credit (that was more than my credit limit), CBA advised to pay in parts so that the card was never in "credit", otherwise points wouldn't accrue.
Bank 1 in my comment above is CBA
They do not give points on purchases made with a positive balance
With American Express Plat you still get points even spending positive balance
Thanks, I was planning to use it on Amex too
Yes. I do it with my Coles CC all the time