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CC limit question

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  • 17-12-2010 10:49am
    #1
    Cookie_Monster
    Registered Users Posts: 24,501 ✭✭✭✭


    havewant to make a purchase on my CC card, but purchase is greater than limit of card. I have transferred money today to the card so I can do this.

    Now this will not clear until Monday or Tuesday, can I go ahead and order the purchase today on the basis that the charge will not go through either for a few days or will it automatically reject as it pushes it over the limit?

    BOI Mastercard.


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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    It will most likely reject as the transaction would be sent for authorisation immediately (which would reflect your current balance) when you try to make the purchase.


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    #3
    Cookie_Monster
    Registered Users Posts: 24,501 ✭✭✭✭Cookie_Monster


    I tried it anyway and it validated and the order has been confirmed by email :)


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    #4
    noworries
    Closed Accounts Posts: 187 ✭✭noworries


    The payment from your card probably wont go through your account for a few days - depends where the merchant is and how frequently they settle. The only thing to bear in mind is that an autorisation has been recorded against your card so if you use it over the weekend, it may be declined.


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    #5
    GerardKeating
    Registered Users Posts: 7,652 ✭✭✭GerardKeating


    Cookie_Monster wrote: »
    I tried it anyway and it validated and the order has been confirmed by email :)

    Depends in the site, some do not authorise in real time, they do it later, maybe as part of a batch, so it might still decline...


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    #6
    Cookie_Monster
    Registered Users Posts: 24,501 ✭✭✭✭Cookie_Monster


    GerardKeating wrote: »
    Depends in the site, some do not authorise in real time, they do it later, maybe as part of a batch, so it might still decline...

    yeah, I got an email last night saying it failed. Online shows the money there now though :rolleyes: Feckin bank.


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    #7
    tatabubbly
    Closed Accounts Posts: 1,185 ✭✭✭tatabubbly


    Gonna bump this cos i'd like to know how far over your limit can you go without them rejecting your card?? Say like is it 20e, 30e??

    Just wondering cos i might be making a big transaction soon.


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    #8
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Technically 0.

    Sometimes, banks have let people go beyond the limit, but you can expect to be penalised for doing so if they do allow it.


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    #9
    Cookie_Monster
    Registered Users Posts: 24,501 ✭✭✭✭Cookie_Monster


    It was actually failed on security issues rather than the limit. I had to ring them to get them to approve it :rolleyes:

    As Buffybot said: I thought you could go over the limit but would be charged for it.


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    #10
    alexlyons
    Registered Users Posts: 2,182 ✭✭✭alexlyons


    You generally can't go over the limit for one simple reason. They agreed to give you a limit, say of €1000, you all ready owe them €1000, so there is no reason to let you go over that. It's not like a current account where you won the money in the a/c and can slightly dip into their funds for a few days (unexpected overdraft).
    The €1000 on the card is theirs, unlike you c/a funds.
    I know you all most likely know this, but it is these simple facts that mean they don't let you "overdraw" your CC. You're already overdrawn, if you want to put it like that.

    That being said, I bought two items online and with the timing of it all, didn't put enough money on the card, and went over the limit by a couple of hundred. I noticed this and fixed it. After the payment had gone through and onto the card, I got a letter saying there would be action taken if it happened again. The letter was sent as soon as it happened, but i had fixed it before i even got the letter (shows I'm watching the card) so I rang them and they basically got rid of the "warning" on the account.
    It is possible, but only if one payment doesn't even put a hold on the card, but is authorised, and a second goes through properly. Technically.


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