I used up my credit limit (Charge Card). How can I increase my Spending Power?

If you’ve used up your credit limit, here’s what you can do:

1 - Make an early payment:

Early payments made from a connected bank account can usually take up to 3 business days to process. Payments made from your Float Cash account are instant.

How to make an early payment:

1. Navigate to Accounts > Overview
2. Click your Charge account
3. Select "Pay Balance" in blue
4. Input the Amount, the account you'd like the transfer to come from (your Float Cash account of the same currency or connected bank), and optionally, add a Comment
5. Select "Continue" > Review the summary of your payment
6. Select "Submit"
    

2- Enable the Auto-Paydown feature:

This will automatically initiate a payment once your credit limit reaches a specific threshold, ensuring you always have spending power

How to enable Auto-Paydowns:

1. Navigate to Accounts > Overview 
2. Click your Charge account
3. Next to Auto-paydown, click "Enable" 
   
4. Set the "Automatically transfer" and "When my available balance falls below" amounts
   • We recommend setting each of these values to match at least three business days' worth of typical spending.
5. Select the account you'd like the transfer to come from (your Float Cash account of the same currency or connected bank)
6. Check "Enabled"
7. Click Save

For more details, see: Auto-Paydowns
 

3 - Overfund your Charge account:

From a Connected Bank Account:

1. Navigate to Accounts
2. Click "Add Funds" > "Bank Transfer"
3. In the Add Funds window:
   • Input the amount you'd like to top up
   • Select the connected bank account that you'd like to fund from
   • Select your CAD/USD Charge account to transfer the funds to
   • Add a comment (required)
4. Click "Continue" > Review the transfer summary
5. Click "Continue"
    

From your Cash Account Balance:

1. Navigate to Accounts > Select "Transfer"
2. In the Transfer Funds window:
   • Input the amount you'd like to transfer
   • Select the Cash Account you'd like to transfer from
   • Select the Charge account you'd like to transfer to
   • Add a comment (required)
3. Click "Continue" > Review the transfer summary
4. Click "Continue"

For more details, see: Overfunding your Charge Account 

If you have any further questions or wish to learn more about Float's Charge Card, read more HERE or please reach out to an account representative or support@floatfinancial.com for more information.