Credit Card Max

Little Sunshine

If a credit card has a max limit - can u exceed it i.e limit of €3,000 can u put €3,500 on it?

cookie1977

Possibly but there's usually a penalty charge for doing so. Check your cards t&c's to verify if and what the charge would be

beazee

You can definitely top-up your card with €500 in order to pay €3,500 having a limit set at €3,000

Liam D Ferguson

If you're looking to make a once-off purchase, you can usually ask your credit card issuer for a temporary increase in your limit, e.g. they agree to increase your limit to €3,500 for a period of six months and you agree to pay it down to €3,000 within those six months. Then it goes back to €3,000.

clint_silver

I had this last month, limit was 4k, they allowed spending of near to 4.5k, mixup between me and the missus, anyway, the bill came in with an overlimit charge of 7.50e.
My argument was if you allow someone to go over the limit, why have one at all, is it only there so they can generate a charge? to my mind, why not just disallow any payment that goes over the limit, but no according to the AIB guy, its up to me to self regulate the 4k.

Still confused on this one, there must be a clear rule for the limit that I dont see.

BuffyBot

Not really. Stores can have floor limits, which means that a transaction under a certain value doesn't have to be authorised with the card issuer.

A very rudimentary example i.e I have a limit of €3500. I have a balance of 3300. I go to a store with a floor limit of 300 and purchase 250 worth of goods, the transaction will most likely be approved - or if I am somewhere where the old clunk-clunk imprint method happened to be used for whatever reason. When the charge reaches the card issuing bank, your balance hits 3550, which is over your limit, and you get charged.

It's always up to the account holder to keep an eye on their balance to ensure they don't hit their limits.

Terrontress

Even with online authorisations, there are still circumstances where you can be authorised in excess of your limit.

Remember, the limit is as set by the credit card company and might not be a reflection of your risk.

If you are charged an overlimit fee, I would phone them and ask for it to be refunded as they have not set your limit correctly.

Marcusm

Terrontress wrote: »

Even with online authorisations, there are still circumstances where you can be authorised in excess of your limit.

Remember, the limit is as set by the credit card company and might not be a reflection of your risk.

If you are charged an overlimit fee, I would phone them and ask for it to be refunded as they have not set your limit correctly.

Huh? They have agreed to provide you a set amount of credit, you exceed it and think a 7.50 fee is unacceptable. An unauthorised overdraft fee s probably more like 35. Count yourself lucky to pay the smaller amount and maybe manage your cards better in the future.