Business

Credit card transactions (Question!)

Hello everyone!

I have just been approved for my first credit card ever, a Scotia Momentum (VISA) with a $1k limit!

So I have a small question for you guys, it might seem a little bit stupid though!

I plan on changing my gaming monitors, which would be a total of about 1300$CAD, but my debit card has a limit of 1000$/day and my new credit card has a limit of 1000$. Both are with the same bank, Scotia. So as we can see here, I won’t be able to make only one transaction.

My question is: Would I be able to go in store, let’s say BestBuy, buy one monitor with the credit card, then pay it off from my bank’s app, and after that make the other transaction for the second monitor a few minutes later? I am guessing I would be able to do so.

If it doesn’t work, I’ll buy one with my debit card and one with my credit card, but I have a 7.5% cash back on my new credit card for the first 3 months with a max of 2000$ in spendings, so it would be grand, calm to have 7.5% back from the about 1300$ that my monitors will cost me instead of getting the cash back on one monitor only.

I hope my question was clear enough, thanks!

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One Comment

  1. I’m not familiar with that particular bank but it would depend if they allow you to do instant payments. Most banks make you wait a few days for the payment to post to give you the credit limit back. Others give it back to you as soon as you make the payment even though it’s pending.

    So it would come down to if the bank has the option.

    If they don’t, you would have to buy one, pay it off, wait a few days and come back again. Or split your payments at the store. Like pay $1,000 with the cc and $300 with the debit.

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