I don't believe so. I'll explain how I think it works.
[x] Turn on extra usage to keep using Claude if you hit a limit.
^^^ This toggles whether it will automatically spend from your pre-paid balance when you hit limits.
$20
Monthly spend limit
^^^ I'm not actually sure which this toggles, but I think it is either a maximum amount to reload per month, OR I think it is a maximum amount of your balance to spend per month. I think it's how much to auto-reload but it is a confusing setting.
Auto-reload off
^^^ This toggles whether it auto-reloads. It accepts a trigger balance and how much to top it off to. This setting shows the following text, which is
You agree that Anthropic will charge the card you have on file in the amount above on a recurring basis whenever your balance reaches the amount indicated. To cancel, turn off auto-reload.