Question about Credit Limit

[coit]

Hey folks, recently finished my Chapter 13, and now working to build my credit scores!

I got an Orchard Card with only a $300 limit. Basically, I want to use it for renting cars when on travel, as I have been *very* lucky to date that I have either been able to travel with someone else renting the car or having the car rental place not notice that I was renting with a debit card.

Anyway, since they won't raise my limit, I'm wondering if I can have the card show a higher limit by paying more than I owe on the card, and maintaining a negative balance? So if I owe $0 and pay $200, would it show like a $500 credit limit?

Is there a reason I shouldn't do something like that?

Thanks!

[tigergem]

If it were me, I would get a secured credit card and govern the balance myself with the security balance. But that is just me. I wouldn't count on Orchard giving you your overpayment in the form of a credit line if it isn't a secured card. They will just collect interest off your over payment.

[SPalin]

Most cc will not let you pay more than your statement balance, especially through their on-line website. You might be able to use your banks paybill and pay over the balance or send a check. If you send a check they may return it. They will not report that your credit limit is increased if you pay over your balance only the amount of last payment. If it was a secured card then yes it would be a cl increase.

[coit]

Thanks folks. Maybe I'll look into the secured cards, but I hate the idea of tying up my cash on them.

Would there be any benefit to using a secured card rather than just using my debit card?

[ForumReader]

Thanks folks. Maybe I'll look into the secured cards, but I hate the idea of tying up my cash on them.

Would there be any benefit to using a secured card rather than just using my debit card?

I believe with debit cards under visa logos that would not be reported to the credit bureaus (I could be wrong). I have also heard that with secured cards, they do not report the credit bureaus as unsecured. There are pros and cons to each type of card. Good luck.