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A Few Credit Card Questions

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  • 11-10-2008 1:17pm
    #1
    humbert
    Registered Users Posts: 5,238 ✭✭✭


    Mainly revolving around credit limit...

    If you have a limit of say 1000 and you buy something for 500 then something for 600 what happens?

    Does the credit card simply get declined on the second transaction.

    Does it go through and there is a charge?

    Does it fail when the transaction is processed and the money is taken by the seller?

    The reason I ask is that I bought a few things recently and at some point I might have done what I described above. I transferred money from my bank account to the card to cover them but I am completely unsure about the timing of the various transactions.

    So basically as far as I can tell they all went through but when I look at my credit card statement online, after a week the most significant transaction is still missing. Would I receive any notification on the statement if there was a problem?

    I'll prob go into the bank on monday and check, but in the mean time if anybody knows how this works I'd appreciate it!

    Sorry if I have done a poor job explaining the situation.


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    #2
    Wertz
    Closed Accounts Posts: 11,909 ✭✭✭✭Wertz


    My BoI mastercard/Visa dual account will let you spend over the limit but then charge you a penalty fee (12.50 I think). That would be more POS type transactions though...I know when I tried to use it to fund a paypal transaction, paypal would not process it until I had "topped up" the CC account (which took 3 days to clear), which took some explaining to the eBay seller I was trying to pay. It probably also depends on your credit rating and history...certain cards may be declined, certain ones allowed to go over the limit.


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    #3
    humbert
    Registered Users Posts: 5,238 ✭✭✭humbert


    Wertz wrote: »
    My BoI mastercard/Visa dual account will let you spend over the limit but then charge you a penalty fee (12.50 I think). That would be more POS type transactions though...I know when I tried to use it to fund a paypal transaction, paypal would not process it until I had "topped up" the CC account (which took 3 days to clear), which took some explaining to the eBay seller I was trying to pay. It probably also depends on your credit rating and history...certain cards may be declined, certain ones allowed to go over the limit.

    Thanks, not quite as black and white as I was hoping for but it helps.

    Just read through the documentation and it says there's an 8.50 charge if that happens, which is fine.

    Also the transaction went through ok. Got confirmation from the seller and such like. It's for a hotel though so the last thing I want if to find out shortly before going there that there was a problem.

    Also the difference was only for about 20 euro and my credit history is fine, though obviously if there was some ridged rule a computer wouldn't care whether it was 20 or 200.

    Anyway, it looks like everything should be fine but I'll call into the bank Monday just to make sure.

    Oh, what's the likelihood for some reason the transaction hasn't gone through after 5 working days?

    I think all the others took 2 or 3 which is why I'm concerned.


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    #4
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


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    #5
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    humbert wrote: »
    If you have a limit of say 1000 and you buy something for 500 then something for 600 what happens?

    One of two things.
    More than likley the transaction would be declined.
    Or it would allow the transaction, you would then be beyond your limit and be charged a fee.
    humbert wrote: »
    Does the credit card simply get declined on the second transaction.

    Depends... see above.
    humbert wrote: »
    Does it go through and there is a charge?

    If it was allowed to go through you would be charged usually €5+ depending on the bank
    humbert wrote: »
    Does it fail when the transaction is processed and the money is taken by the seller?

    If the seller sold you say a tv for the €600 if it was properly processed it will be then charged to the card.
    humbert wrote: »
    So basically as far as I can tell they all went through but when I look at my credit card statement online, after a week the most significant transaction is still missing. Would I receive any notification on the statement if there was a problem?

    I heard, now im 100% sure but a retailer has 14 or so days but through a transaction. In most cases it will show a couple of days later. Again dont quote me on that.


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    #6
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    humbert wrote: »
    Also the transaction went through ok. Got confirmation from the seller and such like. It's for a hotel though so the last thing I want if to find out shortly before going there that there was a problem.

    Also the difference was only for about 20 euro and my credit history is fine, though obviously if there was some ridged rule a computer wouldn't care whether it was 20 or 200.

    Anyway, it looks like everything should be fine but I'll call into the bank Monday just to make sure.

    Oh, what's the likelihood for some reason the transaction hasn't gone through after 5 working days?

    I think all the others took 2 or 3 which is why I'm concerned.

    Does your bank not have a 24 hour callcentre? You could give them a call and ask.


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    #7
    humbert
    Registered Users Posts: 5,238 ✭✭✭humbert


    I had a quick look but didn't find anything specific but to be honest I'd have more faith in the info I'd get here than from a call centre and in all likelihood they couldn't tell me anything specific over the phone. It's ulsterbank btw.

    At this stage it's prob as easy just to call in.


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    #8
    humbert
    Registered Users Posts: 5,238 ✭✭✭humbert


    At the risk of asking a very stupid question. When you book a hotel online with a credit card, is the fee deducted there and then or later.

    I.e. when you arrive, or when you check out?

    Checked with the bank and no record of a transaction, processed or declined!


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    #9
    GerardKeating
    Registered Users Posts: 7,650 ✭✭✭GerardKeating


    humbert wrote: »
    At the risk of asking a very stupid question. When you book a hotel online with a credit card, is the fee deducted there and then or later.

    Depends on whom you do it with, every one could and can do it differently.

    If you used "Hotels Ireland", they take a fee up front, maybe €5, and the hotel charges the balance when you check out.

    Other like Starwood (which own Sheraton, Westin anda few other brands) take the entire charge for the stay upfront, and charge for extras when you check out.

    Others just charge you when you check out. It should have stated this (not always clearly) on the site when you booked.


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    #10
    humbert
    Registered Users Posts: 5,238 ✭✭✭humbert


    GerardKeating wrote: »
    Depends on whom you do it with, every one could and can do it differently.

    If you used "Hotels Ireland", they take a fee up front, maybe €5, and the hotel charges the balance when you check out.

    Other like Starwood (which own Sheraton, Westin anda few other brands) take the entire charge for the stay upfront, and charge for extras when you check out.

    Others just charge you when you check out. It should have stated this (not always clearly) on the site when you booked.

    Ah, that makes sense. It didn't say anything explicitly but I presume it would be more important if they were taking some fee. The general implication of the info provided was that the room was reserved rather than purchased and that there may be additional taxes upon arrival.

    Found an online facility to check or cancel the reservation and it seems fine. I would like it if it was made clearer but I'd say I just worry too much!


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